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    102 Gray St Henderson, TX 75652

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    For Sale
    Contact for pricing

    Office, Warehouse & Apartments, $295k

    Property size:
    5,200 SF

    Property Features for 102 Gray St

    General Information

    Property type
    Multifamily properties
    Square Feet
    5,200 SF
    Lot Size
    11,326 SF

    Building Details

    Units
    3

    We can help!

    Listing Contact
    Trenton Siskron
    Trenton Siskron

    Listing Agency: KW Commercial NWLA Listing Agent: Trenton Siskron

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This unique Henderson, TX property offers a compelling mixed-use investment opportunity. Located on the west edge of downtown, it combines a 5,200 square foot office/warehouse with two efficiency apartments (600 and 700 square feet each). The office/warehouse, currently owner-occupied by a local construction company, features old hardwood floors, a reception area, two private offices, a breakroom, and a warehouse section with semi-dock loading via a roll-up door. The apartments, each with a bathroom and kitchen, share a common laundry room. A second roll-up door, currently used as garage parking for one apartment, offers additional semi-dock loading potential. Situated on a 0.26-acre lot at 102 Gray St, 75652, this property presents an ideal owner-user scenario with income potential from the apartments, or a strong investment opportunity for leasing the entire space. The property's location in a vibrant downtown area also allows for potential short-term rentals to visitors. This three-tenant property offers a blend of commercial and residential uses in a desirable East Texas location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kenneth Orr Construction Construction Company

    Suggested Use

    Spa & Massage Center Hair Salon Nail Salon Building Supply Skin Care Clinic Auto Repair Shop Big Box & Wholesale Store Auto Parts Store Grocery & Convenience Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Henderson
    County
    Rusk
    State
    Texas
    Longitude
    -94.820727630272
    Latitude
    32.150856951033

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    FAQs

    What type of property is this?
    Multifamily property - Office, Warehouse & Apartments, $295k
    Where is this multifamily property located?
    The property is located at 102 Gray St Henderson, TX.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: $295,000 asking price.; Mixed-use property: 5,200 square feet, including office/warehouse and two efficiency apartments.; Three tenants currently occupy the property.
    (318) 213-1555 Call to check price and availability
    Request Owner's contact information
    102 Gray St Henderson, TX 75652
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    Henderson, TX 75652
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    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
    102 Gray St Henderson, TX 75652
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Trenton Siskron
    Trenton Siskron
    Real Estate License ID: 0995687110
    (318) 213-1555
    Learn more
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