NNN Leased Retail
For Sale
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222 W Hickory St, Denton, TX 76201
NNN leased retail building in Downtown Denton, Texas.
Property Size9,133 SF
Price / SF$208.04
Days on Market1129
Property Features for 222 W Hickory St
General Information
Standard status
Active
Size
9,133 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Net Operating Income
$138,740
Building Details
Year Built
1930
Year Renovated
2006
Stories
1
Tenancy
Multi
Listing Agency:
SVN VERUS Commercial
Listed By:
Kristofer Smith · License #TX 774764
(940) 381-2220
Source:
Crexi
Added: Aug 18, 2023
Changed: Sep 13
Last Checked: Sep 18 at 7:00AM
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 SVN VERUS Commercial
Investment Insights
Based on property information with market context.
The subject property is a 100% NNN leased retail building located in Downtown Denton. The property features a three-tenant mix. Rent escalations are in place.
Key Highlights
- 100% NNN Leased Retail Building
- Located in Highly Desirable Downtown Denton
- Fully Stabilized Property
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
$133,794
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
7.04%
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%
$2,675,880
$2.7M
Cap Rate 7%
$1,911,343
$1.9M
Cap Rate 9%
$1,486,600
$1.5M
Market Conditions
NOI Build-Up for 9,133 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
$200.6K $21.96/SF
− Vacancy
−$9.4K −$1.03/SF
EGI
$191.1K $20.93/SF
− OpEx
−$57.3K −$6.28/SF
NOI
$133.8K $14.65/SF
Area
Denton, TX
Vacancy
4.70%
Lease Rate
$21.96 /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%
$2,675,880
Cap Rate 7%
$1,911,343
Cap Rate 9%
$1,486,600
Alternative Uses
Best Use
Retail
$1.91M
$1.67M – $2.23M
NOI $133,794 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.85M
$2.50M – $3.33M
NOI $199,741 @ 7.0% cap · market cap 10.51%
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
2,406
Businesses Nearby
51k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Shops & Services 34%
Mellow Mushroom
Dining
11,092 visits/mo
0.3 miles
Rusty Taco
Dining
8,924 visits/mo
0.3 miles
Wells Fargo
Shops & Services
8,868 visits/mo
0.2 miles
Golden Chick
Dining
6,072 visits/mo
0.5 miles
Family Dollar
Shops & Services
4,393 visits/mo
0.4 miles
Demographics for 76201, TX
27,610
Population
13,087
Households
2.1
Avg Household Size
26
Median Age
46%
College-Educated
95%
High-School Grad
5.5 sq mi
ZIP Area
5,020
Density / Sq Mi
$37,863
Median Household Income
$18,308
Median Earnings
$1,128
Median Rent
$250,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - NNN leased retail building in Downtown Denton, Texas.
Where is this retail space located?
The property is located at 222 W Hickory St Denton, TX.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 100% NNN Leased Retail Building; Located in Highly Desirable Downtown Denton; Fully Stabilized Property
