Flex Building with Warehouse
For Sale
$224,900
650 N Main St, Paris, TX 75460
Metal commercial building combines finished offices with vehicle-accessible work areas.
Property Size2,016 SF
Price / SF$111.56
Days on Market10
Property Features for 650 N Main St
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Commercial
Building Details
Year Built
1980
Buildings
1
Construction
metal building
Listing Agency:
Hygge Homes and Land
Listed By:
Meagen Smith · License #0679901
(903) 609-2050
Source:
Divinerealtygrp
Added: Sep 9
Changed: Sep 13
Last Checked: Sep 16 at 10:12PM
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 Hygge Homes and Land
Investment Insights
Based on property information with market context.
Built in 1980, this 2,016-square-foot metal flex building combines finished office space with an open warehouse and shop area. The office portion includes several rooms, interior windows and doors, and an on-site restroom, while the warehouse offers a concrete floor, overhead lighting, exposed steel framing, and multiple large roll-up doors. The layout supports separation between administrative and operational functions while retaining convenient internal access.
Open exterior space provides room for parking, vehicle movement, equipment, inventory, or other outdoor needs. The property is located at 650 N Main St in Paris, Texas, and offers a practical configuration for business, service, storage, workshop, or other commercial operations.
Open exterior space provides room for parking, vehicle movement, equipment, inventory, or other outdoor needs. The property is located at 650 N Main St in Paris, Texas, and offers a practical configuration for business, service, storage, workshop, or other commercial operations.
Key Highlights
- 2,016‑square‑foot flex building with office, warehouse, and shop areas
- Finished office section with multiple rooms and an interior restroom
- Warehouse area features concrete flooring, overhead lighting, and exposed steel framing
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
$12,496
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
5.56%
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%
$249,920
$249.9K
Cap Rate 7%
$178,514
$178.5K
Cap Rate 9%
$138,844
$138.8K
Market Conditions
NOI Build-Up for 2,016 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
$16.2K $8.04/SF
− Vacancy
−$1.5K −$0.75/SF
EGI
$14.7K $7.29/SF
− OpEx
−$2.2K −$1.09/SF
NOI
$12.5K $6.20/SF
Area
Lamar County, TX
Vacancy
9.30%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
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%
$249,920
Cap Rate 7%
$178,514
Cap Rate 9%
$138,844
Alternative Uses
Best Use
Warehouse
$178.5K
$156.2K – $208.3K
NOI $12,496 @ 7.0% cap · market cap 5.56%
Second Best
Industrial
$147.0K
$128.6K – $171.5K
NOI $10,291 @ 7.0% cap · market cap 4.58%
Theoretical Best
Hotel Hospitality
$1.52M
$1.33M – $1.77M
NOI $106,294 @ 7.0% cap · market cap 47.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75460, TX
22,925
Population
11,210
Households
2
Avg Household Size
38
Median Age
17%
College-Educated
88%
High-School Grad
101.9 sq mi
ZIP Area
225
Density / Sq Mi
$44,241
Median Household Income
$30,546
Median Earnings
$895
Median Rent
$123,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Metal commercial building combines finished offices with vehicle-accessible work areas.
Where is this flex space located?
The property is located at 650 N Main St Paris, TX.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: 2,016‑square‑foot flex building with office, warehouse, and shop areas; Finished office section with multiple rooms and an interior restroom; Warehouse area features concrete flooring, overhead lighting, and exposed steel framing
