Side-by-Side Downtown Retail
For Sale
Contact for pricing
528 Main St, Garland, TX 75040
Two separately platted storefront buildings are currently occupied by Baker’s Main Street Furniture and support flexible use options.
Property Size4,840 SF
Price / SF$268.60
Days on Market146
Property Features for 528 Main St
General Information
Standard status
Active
Size
4,840 SF
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Built
1918
Stories
1
Listing Agency:
The Woodmont Company
Listed By:
Russel Wehsener · License #TX 817073
(619) 823-0253
Source:
Crexi
Added: Apr 16
Changed: Sep 6
Last Checked: Sep 7 at 10:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Woodmont Company
Investment Insights
Based on property information with market context.
Two separately platted retail storefront buildings at 524 and 528 Main Street offer flexible layouts that can be used individually or combined into a single footprint. The property is currently occupied by Baker’s Main Street Furniture, operating across both buildings.
Located on downtown Main Street in Garland, the buildings sit near popular restaurants, retailers, and civic uses. The offering benefits from daily pedestrian traffic and frequent community events held in the square, and it is adjacent to a high-profile pizza restaurant recently featured by David Portnoy (Barstool Sports).
There is also a value-add opportunity through repositioning, enhanced tenant mix, or owner-user occupancy, along with potential revitalization reimbursement for up to 50% of eligible interior and exterior improvements, subject to City of Garland program guidelines.
Located on downtown Main Street in Garland, the buildings sit near popular restaurants, retailers, and civic uses. The offering benefits from daily pedestrian traffic and frequent community events held in the square, and it is adjacent to a high-profile pizza restaurant recently featured by David Portnoy (Barstool Sports).
There is also a value-add opportunity through repositioning, enhanced tenant mix, or owner-user occupancy, along with potential revitalization reimbursement for up to 50% of eligible interior and exterior improvements, subject to City of Garland program guidelines.
Key Highlights
- Two separately platted storefront buildings at 524 and 528 Main Street in Downtown Garland
- Buildings can be used individually or combined to support restaurant, retail, office, or experiential uses
- Currently occupied by Baker’s Main Street Furniture across both buildings
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,878
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,557,560
$1.6M
Cap Rate 7%
$1,112,543
$1.1M
Cap Rate 9%
$865,311
$865.3K
Market Conditions
NOI Build-Up for 4,840 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$116.7K $24.12/SF
− Vacancy
−$5.5K −$1.13/SF
EGI
$111.3K $22.99/SF
− OpEx
−$33.4K −$6.90/SF
NOI
$77.9K $16.09/SF
Area
Garland, TX
Vacancy
4.70%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,557,560
Cap Rate 7%
$1,112,543
Cap Rate 9%
$865,311
Alternative Uses
Best Use
Retail
$1.11M
$973.5K – $1.30M
NOI $77,878 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.81M
$5.08M – $6.78M
NOI $406,532 @ 7.0% cap · market cap 31.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,368
Businesses Nearby
57k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Dining 17%
QuikTrip
Shops & Services
32,564 visits/mo
0.3 miles
Burger King
Dining
6,973 visits/mo
0.3 miles
Mobil
Shops & Services
5,135 visits/mo
0.3 miles
Valero Energy
Shops & Services
4,709 visits/mo
0.3 miles
U-Haul
Shops & Services
2,570 visits/mo
0.4 miles
Demographics for 75040, TX
64,035
Population
21,629
Households
3
Avg Household Size
36
Median Age
23%
College-Educated
77%
High-School Grad
15.7 sq mi
ZIP Area
4,079
Density / Sq Mi
$73,537
Median Household Income
$39,019
Median Earnings
$1,670
Median Rent
$245,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two separately platted storefront buildings are currently occupied by Baker’s Main Street Furniture and support flexible use options.
Where is this storefront property located?
The property is located at 528 Main St Garland, TX.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Two separately platted storefront buildings at 524 and 528 Main Street in Downtown Garland; Buildings can be used individually or combined to support restaurant, retail, office, or experiential uses; Currently occupied by Baker’s Main Street Furniture across both buildings
