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    189 Elm St Lewisville, TX 75057
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    189 Elm St Lewisville, TX 75057

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    • Commercial real estate
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    Historic Office Building in Lewisville For Sale
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    2,319 SF

    Historic Office Building in Lewisville

    Own/occupy office building in Old Town Lewisville, Texas.

    189 Elm St, Lewisville, TX 75057
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    Property ID
    US83-2055869
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Odle Lloyd D / Law Firm
    • Crowley Collectibles / (Bike/Boat/Book/etc) Store / Arcade & Gaming Center
    • Theo’s Roast / Cafe & Coffee Shop / Specialty Food Shop
    • Master Restoration Guys / Hardware & Home Improvement / Construction Company
    • Jim Hughes Co / Electronics & Wireless Store

    Property Details for 189 Elm St

    Year built
    1984
    Property type
    Commercial real estate

    Description

    This exceptional executive office suite, located at 189 Elm Street in the thriving Lewisville business district, presents a unique opportunity for a single tenant. Boasting street frontage on Charles Street, this property offers unparalleled visibility and accessibility. While the total building square footage is not specified, the suite itself is a compact, efficient space ideal for a small business or professional needing a dedicated office. Built in 1984, the building is situated on a sizable 0.46-acre lot, providing ample space and potential for future expansion or outdoor use (subject to zoning regulations). The property's location within the heart of Lewisville's business district ensures easy access to a variety of amenities, including restaurants, retail establishments, and transportation links. This is an excellent opportunity to secure a highly visible, affordable office space in a prime Lewisville location. The single-tenant occupancy ensures privacy and control over the space. The property is classified as an Executive Office and is perfect for a business seeking a professional and convenient location. Further details regarding the interior layout and specific square footage of the suite are available upon request. Don't miss this chance to establish your business in a highly desirable area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewisville
    County
    Denton
    State
    Texas
    Longitude
    -96.9959557
    Latitude
    33.0456251

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      2,319 SF

      Historic Office Building in Lewisville

      Own/occupy office building in Old Town Lewisville, Texas.
      189 Elm St, Lewisville, TX 75057
      View Details
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      Multi-Tenant Office Building in Lewisville

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      Lewisville Office Space: Main St.

      Prime Medical/Office Suites in Lewisville, TX
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      Medical Office Space For Rent

      Medical office space attached to Medical City of Lewisville.
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      14,500 SF

      Lewisville Office Space For Rent

      Office space available near Medical City Lewisville.
      500 Richland St, Lewisville, TX 75057
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      Available Flex Space in Lewisville

      5,400 SF flex space with office and warehouse components.
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      82,677 SF

      Office Suite Near Old Town

      1160 SF office suite near Old Town Lewisville.
      118 Lynn Ave, Lewisville, TX 75057
      View Details
    View Listing
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    Lewisville, TX 75057
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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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