Building Details

Year built 1987

Listing Agency: Coldwell Banker American Dream Realty Show Phone

Listed By: Laura Ward Show Phone

Added: Nov 2 Last Checked: Nov 2 at 5:06PM

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MLS# 113629

Copyright © 2026 Henderson County Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This mixed-use property combines residential accommodations with storage space on a 2.01-acre site. The improvements include 7 residential units, a 3-bedroom, 2-bathroom home, 29 storage units, an RV storage garage, and an additional garage. The property contains 3,125 square feet and was built in 1987.

Zoned COMM, the site is a short distance from a public boat ramp on Cedar Creek Lake, providing proximity to public lake access.

Key Highlights

• 2.01‑acre mixed‑use property zoned COMM
• Includes 7 residential units and a 3‑bedroom, 2‑bathroom home
• 29 storage units, an RV storage garage, and an additional garage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,325

Cap Rate

3.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$446,500 $446.5K

Cap Rate 7%

$318,929 $318.9K

Cap Rate 9%

$248,056 $248.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,125 SF

Gross rent

$46.1K $14.76/SF

− Vacancy

−$5.5K −$1.77/SF

EGI

$40.6K $12.99/SF

− OpEx

−$18.3K −$5.84/SF

NOI

$22.3K $7.14/SF

Area

Henderson County, TX

Vacancy

12.00%

Lease Rate

$14.76 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$446,500

Cap Rate 7%

$318,929

Cap Rate 9%

$248,056

Alternative Uses

Best Use

Apartment 5plus

$318.9K

$279.1K – $372.1K (±1% cap)

NOI $22,325 @ 7.0% cap · market cap 3.79%

Second Best

Warehouse

$278.1K

$243.3K – $324.4K (±1% cap)

NOI $19,464 @ 7.0% cap · market cap 3.30%

Theoretical Best

Office A

$1.10M

$961.9K – $1.28M (±1% cap)

NOI $76,950 @ 7.0% cap · market cap 13.06%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Self storage facilities

Suggested Use

Top Pick Auto Repair Shop Garden Center (Bike/Boat/Book/etc) Store Real Estate Agency Law Firm Pet Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

24

Businesses Nearby

Explore this area Business Placement

Demographics for 75156, TX

15,708

Population

8,969

Households

1.8

Avg Household Size

48

Median Age

17%

College-Educated

86%

High-School Grad

32.1 sq mi

ZIP Area

489

Density / Sq Mi

$59,303

Median Household Income

$35,316

Median Earnings

$932

Median Rent

$209,100

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Residential units, storage facilities, and garages occupy a commercially zoned site near Cedar Creek Lake.

Where is this mixed-use property located?

The property is located at 6625 HWY 198 S Mabank, TX.

What is the asking price?

The asking price for this property is $589,000.

What are key features of this property?

This property features: 2.01‑acre mixed‑use property zoned COMM; Includes 7 residential units and a 3‑bedroom, 2‑bathroom home; 29 storage units, an RV storage garage, and an additional garage