Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    308 2Nd St Canadian, TX 79014

    • Commercial real estate
    • 15,000 SF
    • 0.69 lot acres
    For Lease
    View listing
    Value Estimations
    $365,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-9515074
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 308 2Nd St

    Lot size
    0.69 lot acres
    Property size
    15,000 SF
    Property type
    Commercial real estate
    APN
    1225
    APU
    1225

    Description

    This exceptional 6,941 square foot freestanding retail building is available for lease in Canadian, Texas. Located at 308 S 2nd Street, in Hemphill County, this property presents a unique opportunity for businesses seeking a prominent location. The entire building is currently vacant, offering a blank canvas for a new tenant to customize the space to their specific needs. The property is classified as a multi-tenant building, although currently all space is available for lease as a single unit. The building's total square footage is 6,941 square feet, providing ample room for a variety of retail operations. Its location in Canadian, TX, zip code 79014, offers access to a local market and presents a strong foundation for business growth. The property's coordinates are 35.9134401 latitude and -100.3879104 longitude. This is a prime opportunity to establish a retail presence in a well-positioned building within a thriving community. The property is categorized as commercial retail space and is ready for immediate occupancy. Serious inquiries are encouraged to explore the possibilities this versatile space offers. Contact us today to schedule a viewing and discuss lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $365,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Canadian
    County
    Hemphill
    State
    Texas
    Longitude
    -100.388
    Latitude
    35.9135

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $2,240
    $40,000
    $212,540
    $252,540
    -
    $40,000
    $212,540
    $252,540

    Comparable in this City

    • Value Estimation
      $255,000
      13.94 Acres

      Canadian, TX 79014

      COMMERCIAL (GENERAL) • 13.94 Acres
      Canadian, TX 79014
      View Details
    • Value Estimation
      $245,000
      0.20 Acres

      Canadian, TX 79014

      COMMERCIAL (GENERAL) • 0.20 Acres
      Canadian, TX 79014
      View Details
    • Value Estimation
      $295,000
      6,000 SF

      Canadian, TX 79014

      COMMERCIAL (GENERAL) • 6,000 SF
      Canadian, TX 79014
      View Details
    • Value Estimation
      $250,000
      1,226 SF

      Canadian, TX 79014

      COMMERCIAL (GENERAL) • 1,226 SF
      Canadian, TX 79014
      View Details
    • Value Estimation
      $275,000
      1,900 SF

      Exhibition Ctr Rd

      COMMERCIAL (GENERAL) • 1,900 SF
      Exhibition Ctr Rd, Canadian, TX 79014
      View Details
    • Value Estimation
      $265,000
      3,150 SF

      Canadian, TX 79014

      COMMERCIAL (GENERAL) • 3,150 SF
      Canadian, TX 79014
      View Details

    Similar Nearby for Sale

    • $270,000

      Historic Canadian Commercial Building

      Prime Location, Multi-Use Potential, High Returns
      200 3Rd St, Canadian, TX 79014
      View Details
    • $400,000

      Canadian Commercial Building Opportunity

      Prime 2.376-acre commercial lot with metal building.
      105 Hackberry Trl, Canadian, TX 79014
      View Details
    • $75,000
      15.47 Acres

      Canadian, TX Land Opportunity

      Approximately 15-acre tract with rolling terrain and beautiful views.
      83 Hwy, Canadian, TX 79014
      View Details
    • $375,000
      77.36 Acres

      Land Near Canadian Golf Course

      Approximately 77-acre tract near town with rolling terrain and views.
      83 Hwy, Canadian, TX 79014
      View Details
    • $75,000
      15.47 Acres

      Canadian, TX Land For Sale

      15-acre tract near Canadian, TX, ideal for custom homesite.
      83 Hwy, Canadian, TX 79014
      View Details
    • $75,000
      15.49 Acres

      Canadian, TX Land For Sale

      15.49 acre tract near Canadian with rolling terrain.
      83 Hwy, Canadian, TX 79014
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,941 SF

      Canadian, TX Retail Space For Lease

      6,941 SF Freestanding Retail Building
      308 2Nd St, Canadian, TX 79014
      View Details
    • $10,000 /Mo
      11,250 SF

      Spacious Warehouse with Fenced Yard

      11,250 SF warehouse on 2.5 acres with fenced yard.
      110 W Birch St, Canadian, TX 79014
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    308 2Nd St
    Canadian, TX 79014
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.