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    Property profile & analytics

    1501 N Grand Ave Gainesville, TX 76240

    • Retail space
    • 19,350 SF
    • 1.68 lot acres
    For Lease
    View listing
    Last Sale
    Jun 10, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-6462649
    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

    • Retail space

    Property Details for 1501 N Grand Ave

    Lot size
    1.68 lot acres
    Property size
    19,350 SF
    Property type
    Retail space
    APN
    22950
    APU
    22950

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,920,000
      Current use
      OFFICE BUILDING
      $2,275,000
      Change: +18% Conversion: Easy
      RESTAURANT
      $2,190,000
      Change: +14% Conversion: Easy
      MEDICAL BUILDING
      $1,925,000
      Change: +0% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,805,000
      Change: -6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Cooke
    State
    Texas
    Longitude
    -97.1342
    Latitude
    33.6424
    CBSA code
    23620
    CBSA name
    GAINESVILLE, TX MICROPOLITAN STATISTICAL AREA

    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
    $67,487
    $889,378
    $2,818,958
    $3,708,336
    -
    $889,378
    $2,818,958
    $3,708,336

    Comparable in this City

    • Value Estimation by Request
      989 SF

      302 Grand Ave

      RETAIL STORES (PERSONAL SERVICES) • 989 SF
      302 Grand Ave, Gainesville, TX 76240-4322
      View Details
    • Value Estimation by Request
      1,951 SF

      207 Taylor St

      RETAIL STORES (PERSONAL SERVICES) • 1,951 SF
      207 Taylor St, Gainesville, TX 76240-4247
      View Details
    • Value Estimation by Request
      3,500 SF

      300 Commerce St

      RETAIL STORES (PERSONAL SERVICES) • 3,500 SF
      300 Commerce St, Gainesville, TX 76240-3916
      View Details
    • Value Estimation by Request
      2,262 SF

      411 Commerce St

      RETAIL STORES (PERSONAL SERVICES) • 2,262 SF
      411 Commerce St, Gainesville, TX 76240-3917
      View Details
    • Value Estimation by Request
      1,750 SF

      323 Commerce St

      RETAIL STORES (PERSONAL SERVICES) • 1,750 SF
      323 Commerce St, Gainesville, TX 76240-3915
      View Details
    • Value Estimation
      $8,725,000
      208,499 SF

      1800 Lawrence St

      RETAIL STORES (PERSONAL SERVICES) • 208,499 SF
      1800 Lawrence St, Gainesville, TX 76240-2200
      View Details

    Similar Nearby for Sale

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      0.31 Acres

      Downtown Gainesville Retail/Office Opportunity

      Four units near courthouse with retail/office potential. Owner financing available.
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      View Details
    • New
      $140,000
      0.23 Acres

      Commercial Land on I-35 Service

      High-visibility commercial property with excellent frontage on I-35 service road.
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    • New
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      0.08 Acres

      Historic Downtown Gainesville Brick Building

      1,750 sq ft brick building in historic downtown Gainesville.
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    • $1,732,500
      10,500 SF

      Net Leased Family Dollar Store

      New construction Family Dollar store with corporate guarantee.
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    • $2,249,000
      1.01 Acres

      Prime Commercial Acreage in Gainesville

      High-traffic commercial property with multiple income streams and development potential.
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    Similar Nearby for Lease

    • $2,000 /Mo
      41,818 SF

      Gainesville Commercial Building For Lease

      Single-story commercial building with high visibility off I-35.
      2105 N Interstate 35 N, Gainesville, TX 76240
      View Details
    • $1,575 /Mo
      13,460 SF

      Downtown Gainesville Retail Space Available

      Retail space in downtown Gainesville, near courthouse and I-35.
      712 E California St, Gainesville, TX 76240
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Walmart Center

      Retail space available in Walmart-anchored shopping center.
      1501 N Grand Ave, Gainesville, TX 76240
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    • Contact for pricing
      12,000 SF

      Great Lakes Center Retail Space

      Prime Cooke County Retail Strip Center
      905 Us Highway 82, Gainesville, TX 76240
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    • $849 /Mo
      85,378 SF

      Gainesville Warehouse Storage Stalls

      Storage stalls available for lease in Gainesville, Texas.
      517 E Broadway St, Gainesville, TX 76240
      View Details
    • $250 SF/Yr
      85,378 SF

      Gainesville Warehouse Space Available

      Warehouse or storage space near Downtown Gainesville, approximately 1,000 square feet.
      517 E Broadway St, Gainesville, TX 76240
      View Details

    Property Visit Statistics

    • Visits by month
      987
    • Visitors by month
      698
    • Avg Time on site
      34 min
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    Gainesville, TX 76240
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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
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