Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Carthage Commercial Property on Main Title is generated by Realmo AI

    640 W Panola St, Carthage, TX 75633

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime commercial property with high visibility and traffic exposure.

    Type:Land, Mixed Use, Office, Retail, Special Purpose
    Property size:
    2,400 SF
    Price / SF:
    $104/SF
    Added:
    Feb 4, 2026
    Days on Market:
    97
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 640 W Panola St

    General Information

    Standard status
    Active
    Size
    2,400 SF
    Property subtype
    Land, Mixed Use, Office, Retail, Special Purpose

    We can help!

    Listing Contact
    Alan Scarborough
    Alan Scarborough

    Listing agent Alan Scarborough License #TX 0584206

    Listing office Scarborough Realty Group

    Listing date Feb 4, 2026

    Source Crexi

    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 Scarborough Realty Group

    HighLights

    • Prime commercial location on the main strip in Carthage.
    • High visibility and traffic exposure due to corner lot.
    • Significant frontage: 125 feet on West Panola Street and 171 feet on Pecan Street.
    • Suitable for retail, restaurant, office, or service‑based businesses.
    • Includes two buildings, offering flexibility for repurposing.
    • Ideal for owner‑occupants or investors.

    Overview

    This commercial property is located on the main strip in Carthage, offering visibility and high traffic exposure. Situated on a corner lot, the property features approximately 125 feet of frontage on West Panola Street and 171 feet of frontage on Pecan Street. The property includes two buildings: a primary building currently used as a restaurant and a secondary building previously operated as a detail shop. The building only is for sale, providing flexibility for owner-occupants or investors looking to repurpose the space. With its strategic location, strong traffic count, and corner frontage, this property presents an opportunity for retail, restaurant, office, or service-based businesses. The property size is 2400 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Get It Right ... Car Wash

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Carthage
    County
    Panola
    State
    Texas
    Longitude
    -94.347987
    Latitude
    32.157022

    Nearby Similar for Sale

    • $2,615,000
      2,874 SF

      Texas Ranch with Stocked Lake

      377-acre ranch with lake, custom home, and barns.
      2365 CR 152, Carthage, TX 75633
      View Details
    • $189,000

      Carthage Commercial Property on 4.5 Acres

      Shop with renovated offices on 4.5 acres near Carthage.
      5302 US Hwy 59 South, Carthage, TX 75633
      View Details
    • $1,150,000
      3,736 SF

      East Texas Cattle Ranch

      Turnkey cattle ranch on 79 acres near Carthage, Texas.
      668 County Road 108, Carthage, TX 75633
      View Details
    • $1,497,500

      Carthage Office/Medical Property For Sale

      Established veterinary clinic on 7+ acres near future interstate.
      1024 N US HWY 59, Carthage, TX 75633
      View Details
    • $307,160

      Prime 43-Acre Development Tract

      43 acres with commercial and residential development potential.
      888 CR 201, Carthage, TX 75633
      View Details
    • $639,900

      Commercial Space in Carthage, TX

      5652 SF commercial space suitable for restaurant or retail.
      1315 West Panola, Carthage, TX 75633
      View Details
    • $895,000

      Carthage Commercial Property For Sale

      Commercial property in Carthage, TX with office and warehouse space.
      3466 SW Loop, Carthage, TX 75633
      View Details
    • $1,497,500

      Carthage Commercial Property on 7+ Acres

      Prime commercial land with established veterinary clinic near future I-69.
      1024 US HWY 59 N, Carthage, TX 75633
      View Details
    • $1,125,000

      225 Acre Panola County Ranch

      225-acre ranch with pasture, timber, pond, and utilities in place.
      0 CR 152, Carthage, TX 75633
      View Details
    • $45,000

      Carthage Acreage with Existing Utilities

      1.53-acre property with utilities, mature trees, and country setting.
      212 County Road 1041, Carthage, TX 75633
      View Details
    • $184,500

      Hangar at Sharpe Field Airport

      Almost new hangar with hydraulic door and highway access.
      1305 HWY 79, Carthage, TX 75633
      View Details
    • $145,000

      Carthage Acreage with Mature Pines

      19.63 acres featuring a professionally planted, established tree farm.
      1348 CR 448, Carthage, TX 75633
      View Details

    FAQs

    What type of property is this?
    Storefront property - Prime commercial property with high visibility and traffic exposure.
    Where is this storefront property located?
    The property is located at 640 W Panola St Carthage, TX.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Prime commercial location on the main strip in Carthage.; **High visibility and traffic exposure due to corner lot.**; Significant frontage: 125 feet on West Panola Street and 171 feet on Pecan Street.
    (903) 263-8443 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Alan Scarborough
    Alan Scarborough
    Real Estate License ID: TX 0584206
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    640 W Panola St, Carthage, TX 75633
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!