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$240,000

118 N Main St, Palmer, TX, 75152

$291,467 ARVInfo
On MarketInfo
Just AddedInfo
CommercialInfo
Baths0 Bath
Baths2,160 Sq Ft
OfficeOffice
Year BuiltBuilt in 1900

Highlights

Interior

Bathrooms 0Bathrooms 0
FlooringTile, Wood

Exterior

Lot Size2,483 sqft

Building Information

Year Built1900
Stories1

Land Information

APN65.2001.015.010.00.110
Lot Number10
SubdivisionO T Palmer-Rev
Land UseCommercial
Legal DescriptionLOT 10 BLK 15 O T PALMER-REV 0.057 AC
Census Tract060106
Assessed Land Value$38,005
Assessed Improvement Value$161,495
Assessment Year2025

About this property

Step into a piece of Palmer's history at 118 N. Main Street, a unique commercial opportunity in the heart of historic downtown Palmer, Texas. Previously used as a bank, this well-maintained property offers approximately 1,360 square feet of commercial space plus an 800-square-foot, one-bedroom, one-bath apartment, creating exceptional flexibility for business owners, investors, or entrepreneurs looking for a space with character. Walk through the front door and you'll immediately appreciate the charm that can't be replicated in new construction. Whether you envision a boutique, coffee shop, law office, real estate office, salon, creative studio, gallery, financial services, wellness business, or another destination business, this space provides the kind of personality that customers remember. The attached apartment adds tremendous flexibility. Live where you work, create an income-producing rental, provide housing for an employee, or use the space as a private office or executive suite. Opportunities like this are becoming increasingly difficult to find. Located in the heart of downtown Palmer, you'll enjoy the charm of a small Texas town while benefiting from one of the fastest-growing regions in the state. Palmer is part of booming Ellis County, where continued residential and commercial growth is attracting new residents, businesses, and investment. With I-45 just minutes away, the property offers convenient access to Waxahachie, Ennis, Corsicana, Dallas, and the greater DFW Metroplex, making it an ideal location for businesses that value both visibility and accessibility. Historic commercial buildings with flexible mixed-use opportunities are rare—especially when they're well maintained and ready for their next chapter. This is an opportunity to own a piece of local history while investing in its future!

Investor Tools

Property Icon
$199,500
Estimated Property Value
$0Estimated Mortgage Balance
$199,500Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$291,466
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,440 /month
Positive
Cash Flow Estimate:
$480 /month

Interested in this property?

Melissa McClain

Coldwell Banker Realty

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$414/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$3,973
$199,500
2025
$38,005
$161,495
$199,500
No

Tax History

Year
Tax Paid
Assessed Value
2024
$3,973
$199,500

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$199,500
100%
0%
$0/mo

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

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Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Palmer

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118 N Main St | Property Details | No Agent List