Mixed-Use Property with Adjacent
New
For Sale
$235,000
847 S 15th Street Comm, Corsicana, TX 75110
Remodeled commercial space includes a kitchen, private office, bathroom with stand-up shower, and extensive on-site parking.
Property Size900 SF
Price / SF$261.11
Days on Market2
Property Features for 847 S 15th Street Comm
General Information
Standard status
Active
Size
900 SF
Zoning
Industrial 1
Amenities
kitchen
office space
bathroom with stand-up shower
gate
Building Details
Year Built
1940
Year Renovated
2023
Buildings
2
Listing Agency:
Rise DFW Real Estate
Listed By:
Claudia Marquez · License #0665528
(817) 795-2500
Source:
Minteerteam
Added: Sep 13
Last Checked: Sep 13 at 2:56PM
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 Rise DFW Real Estate
Investment Insights
Based on property information with market context.
This mixed-use offering includes a remodeled commercial building with a kitchen, office area, and bathroom equipped with a stand-up shower. HVAC, flooring, plumbing, and electrical systems were updated during 2013 and 2014, and the roof was replaced in 2023. Parking is provided around the building, with access controlled by an installed gate.
The sale also includes a nearby two-bedroom, one-bath residence measuring 1,120 square feet. The home is currently occupied and may serve as housing for a business owner or as a rental property. The commercial property is zoned Industrial 1 and is located at 847 S 15th Street in Corsicana, Texas.
The sale also includes a nearby two-bedroom, one-bath residence measuring 1,120 square feet. The home is currently occupied and may serve as housing for a business owner or as a rental property. The commercial property is zoned Industrial 1 and is located at 847 S 15th Street in Corsicana, Texas.
Key Highlights
- Mixed‑use property includes a 2‑bedroom, 1‑bath home measuring 1,120sf
- Commercial building includes kitchen, office space, and bathroom with stand‑up shower
- HVAC, flooring, plumbing, and electrical updated in 2013 and 2014
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
$14,939
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
6.36%
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%
$298,780
$298.8K
Cap Rate 7%
$213,414
$213.4K
Cap Rate 9%
$165,989
$166.0K
Market Conditions
NOI Build-Up for 900 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
$22.5K $24.96/SF
− Vacancy
−$1.1K −$1.25/SF
EGI
$21.3K $23.71/SF
− OpEx
−$6.4K −$7.11/SF
NOI
$14.9K $16.60/SF
Area
Navarro County, TX
Vacancy
5.00%
Lease Rate
$24.96 /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%
$298,780
Cap Rate 7%
$213,414
Cap Rate 9%
$165,989
Alternative Uses
Best Use
Retail
$213.4K
$186.7K – $249.0K
NOI $14,939 @ 7.0% cap · market cap 6.36%
Second Best
Mixed Use
$130.2K
$113.9K – $151.9K
NOI $9,113 @ 7.0% cap · market cap 3.88%
Theoretical Best
Multifamily LT 5
$9.89M
$8.65M – $11.54M
NOI $692,121 @ 7.0% cap · market cap 294.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Explore this area
Business Placement
Demographics for 75110, TX
30,336
Population
11,980
Households
2.5
Avg Household Size
35
Median Age
17%
College-Educated
77%
High-School Grad
137.5 sq mi
ZIP Area
221
Density / Sq Mi
$53,053
Median Household Income
$29,804
Median Earnings
$1,043
Median Rent
$169,200
Median Home Value
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Remodeled commercial space includes a kitchen, private office, bathroom with stand-up shower, and extensive on-site parking.
Where is this mixed-use property located?
The property is located at 847 S 15th Street Comm Corsicana, TX.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Mixed‑use property includes a 2‑bedroom, 1‑bath home measuring 1,120sf; Commercial building includes kitchen, office space, and bathroom with stand‑up shower; HVAC, flooring, plumbing, and electrical updated in 2013 and 2014
