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Property profile & analytics
OFF-MARKET
Estimated value
$1,080,000
Retail space
905 Hwy 82 Gainesville, TX 76240-2267
Individually Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-6431545
Property summary
AI-generated overview
This exceptional Class A retail strip center, known as Great Lakes Center, presents a fantastic opportunity for discerning businesses. Located in Cooke County, this single-story, 12,000 square foot building was constructed in 2015 and sits on a generous 2.62-acre lot. The property is currently configured for multiple tenants, offering a minimum divisible space of 1,750 square feet. The maximum contiguous space available is also 1,750 square feet, ideal for a single tenant seeking a prominent location. The building boasts a modern design and high-quality construction, reflecting its Class A designation. Its convenient location within Cooke County ensures high visibility and accessibility for customers. With one building and a single story layout, this property offers efficient use of space and easy navigation. The property's APN is available upon request. This is an excellent investment opportunity for businesses seeking a well-maintained, strategically located retail space in a thriving area. Don't miss this chance to secure your place in this successful retail center. Contact us today to learn more about leasing options.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2012
Total area
11,096 SF
Lot
2.59 ac (112,951 SF)
APN
9923
UPID
US82-6431545
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.08M
Owner & transaction history
Robin M Watts · 3 yrs held
Robin M Watts
since 2023
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.3M
+18.4%
Restaurant
$1.3M
+14.0%
Medical building
$1.1M
+0.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Gainesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gainesville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,100,000
Current use
OFFICE BUILDING
$1,305,000
Change: +18% · Conversion: Easy
RESTAURANT
$1,255,000
Change: +14% · Conversion: Easy
MEDICAL BUILDING
$1,105,000
Change: +0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,035,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$1.08M
Range $972k – $1.19M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$97 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$79,442
Tax year 2022
Assessed value
$5,500,000
Assessed 2023
Previous assessed
$5,500,000
+0.0% YoY
Effective rate
1.44%
On assessed value
Assessed land
$1,140,810
Assessed improvement
$4,359,190
Land market value
$1,140,810
Improvement market value
$4,359,190
Total market value
$5,500,000
Applied tax rate
71.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2012
Heating
NONE
Buildings
2
Total area
11,096 SF
Lot
2.59 ac (112,951 SF)
APN
9923
UPID
US82-6431545
Jurisdiction
COOKE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.3M
RESTAURANT
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.0M
RETAIL STORES Current
OFFICE BUILDING
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2012
Heating
NONE
Buildings
2
Lot
2.59 ac
Current owner
From public records · entity-resolved
Robin M Watts
Individual
Free & Clear · 3 yrs held
Mailing address
2221 PO BOX 431ST RD STE #119, VALLEY VIEW, TX 76272-0431
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2023
—
Robin M Watts
Alan Ritchey INC
Warranty Deed
—
Jan 6, 2022
—
Great Lakes Ctr Gainesville Tx Seri
Rjs Marine INC
Correction Deed
related
—
Apr 5, 2011
—
Rjs Marine INC
G Ville Properties LP
Special Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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