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    215 W Mcgregor Dr McGregor, TX 76657
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    215 W Mcgregor Dr McGregor, TX 76657

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    • Office Units
    • 5,606 SF
    For Sale
    $439,000
    View Listing →
    Versatile Commercial Property in McGregor For Sale
    $439,000
    5,606 SF

    Versatile Commercial Property in McGregor

    5,606 SF commercial property suitable for diverse business ventures.

    215 W McGregor Drive, Mcgregor, TX 76657
    View Listing
    Property ID
    US82-5390265
    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

    • Office Units

    Property Details for 215 W Mcgregor Dr

    Property size
    5,606 SF
    Property type
    Office Units

    Description

    This exceptional 5,606 square foot creative office building is strategically located at the highly visible intersection of W McGregor Hwy 84 and Hwy 317 in McGregor, Texas, zip code 76657. The property, currently vacant, offers significant potential for a variety of businesses. The building features four spacious offices, a fully equipped kitchen, and ample outdoor storage space. Convenient paved parking is located at the front of the building. The property benefits from central heating and cooling systems. The interior layout is adaptable to suit diverse business needs, from insurance agencies and salons to general office spaces and automotive services. The C zoning allows for mixed-use office functions, providing flexibility for future development. This prime location ensures easy access for both local businesses and residents, making it an attractive investment opportunity. The asking price is $439,000. The property is situated on Hwy 84 frontage, offering excellent visibility and accessibility. McLennan County location.

    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
    McGregor
    County
    McLennan
    State
    Texas
    Longitude
    -97.407893926117
    Latitude
    31.444620433727

    Comparable in this City

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      Commercial/Office Building in McGregor, TX

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      Lorena Rd & Hwy 84, McGregor, TX 76657

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      5,606 SF

      Versatile Commercial Property in McGregor

      5,606 SF commercial property suitable for diverse business ventures.
      215 W Mcgregor Dr, McGregor, TX 76657
      View Details
    • $400,000
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      McGregor Office Building - $400K

      Prime downtown McGregor office & land. High-traffic location.
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    • $400,000

      Corner Lot in Commercial District

      Located on a hard corner in McGregor's General Commercial District.
      300 S Main St, McGregor, TX 76657
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,000 SF

      Highway Frontage Mixed-Use Property

      Versatile commercial property on 17.5 acres with highway frontage.
      31589 W Hwy 84 & 31631 Hwy 84 W, McGregor, TX 76657
      View Details
    • New
      $495,000
      0.50 Acres

      Commercial/Office Building in McGregor, TX

      Well-maintained commercial/office building with climate-controlled storage and roll-up doors.
      365 Val Verde Rd, McGregor, TX 76657
      View Details
    • Contact for pricing

      Lorena Rd & Hwy 84, McGregor, TX 76657

      Mixed-use properties
      Lorena Rd & Hwy 84, McGregor, TX 76657
      View Details
    • Contact for pricing
      5,606 SF

      Versatile Commercial Property in McGregor

      5,606 SF commercial property suitable for diverse business ventures.
      215 W Mcgregor Dr, McGregor, TX 76657
      View Details
    • $400,000
      0.17 Acres

      McGregor Office Building - $400K

      Prime downtown McGregor office & land. High-traffic location.
      300 Main St, McGregor, TX 76657
      View Details
    • $400,000

      Corner Lot in Commercial District

      Located on a hard corner in McGregor's General Commercial District.
      300 S Main St, McGregor, TX 76657
      View Details

    Similar Nearby for Lease

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      3,600 SF

      Downtown McGregor Commercial Space Available

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    • $2,160 /Mo
      12,023 SF

      Downtown McGregor Commercial Space Available

      Versatile commercial space with high visibility and flexible layout.
      400 S Main St, McGregor, TX 76657
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      51,562 SF

      Mc Gregor Office Space Available

      Two-story office building with basement, suitable for various businesses.
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      14,440 SF

      Historic Downtown McGregor Corner Building

      Historic building on Main Street in downtown McGregor for rent.
      300 S Main St, Mc Gregor, TX 76657
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    • $2,160 /Mo

      Retail Space on Main Street

      Retail property available for lease on Main Street.
      400 S Main St, McGregor, TX 76657
      View Details
    View Listing
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    McGregor, TX 76657
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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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    215 W Mcgregor Dr, McGregor, TX, 76657
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