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$650,000 -$150,000 (-18.75%) Price Reduced

  • For Sale
  • Active
  • Business
  • 11,605 Sq. Ft.
  • 0.895 Acres
  • Updated 1 day ago
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Welcome to your next big opportunity-an impressive 11,000+ sq ft event venue unlike anything else in the area. This property blends rustic farmhouse vibes with industrial character and an elegance that's ready to shine. With a flexible open layout, the space has already hosted weddings, proms, family reunions, holiday markets, and intimate showers in the cozy front foyer. Whether you're expanding an event business or launching something new, this is the blank canvas you've been looking for. Two attached silos offer one-of-a-kind potential-envision them as a bridal suite, private lounge, or Instagram-worthy bar. A finished concrete drive leads to a large roll-up garage door for seamless vendor access. Inside, tables, chairs, and a wide variety of décor are ready to go. The soaring ceilings and open floor plan allow for creative layouts, lighting, and guest experiences. The possibilities go far beyond events: reimagine the space as a showroom, shared workspace, or even multi-family living. There's plenty of land to build out additional residential units, expand parking, add a commercial kitchen, or develop outdoor event areas. This property hasn't reached its full potential-but with vision, polish, and the right strategy, it could become the region's go-to destination. For the right buyer, the opportunity is as expansive as the space itself.

Full Property Details for 151 S 5th St

General

  • Price: $650,000
  • Taxes: $19,303
  • Status: Active
  • Type: Business
  • Source: NTREIS
  • MLS ID: 20996243
  • Updated: 3/2/2026
  • Added to Site: 235 day(s) ago

Business

  • Name: The Rails
  • Business Type: Arts and Entertainment

Interior

  • Flooring: Concrete

Parking

  • Parking Features: Additional Parking, Gravel

Location

  • County: Fannin
  • Subdivision: T & P Ry Add
  • Driving Directions: From downtown Honey Grove, turn S onto 5th Street. Go through 2 stop signs. After 2nd stop sign, you will see the venue in front of you. It is on the corner of 5th and Commerce Streets. There will be a sign out front.

Heating & Cooling

  • Central air: Yes
  • Air Conditioning: Yes
  • Cooling Type: Central Air, Electric
  • Heating Type: Central, Electric

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • Utility Description: Electricity Connected, Sewer Available, Separate Meters, Water Available

Structural Information

  • Detached/Attached: Detached
  • Construction: Aluminum Siding, Brick
  • Roof: Metal
  • Stories/Levels: 1
  • Square Feet: 11,605
  • Sq. Ft. Source: Public Records
  • Year Built: 1983

Lot Features

  • Lot Size (Acres): 0.895
  • Lot Size (Sq. Ft.): 38,986.2
  • Lot Size Source: Public Records
  • Frontage: City Street, Asphalt, Gravel
  • Lot Features: Cleared, Corner Lot
  • Potential Use: Other
  • Zoning: Commercial and Residential

Financial Considerations

  • Tax Amount: $19,303
  • Terms: Cash, Conventional, 1031 Exchange
  • Owner Pays: All Utilities
  • Tenant Pays: None

Disclosures and Reports

  • Exclusions: Metal sign over upper deck
  • Inclusions: Furniture, Inventory, Land & Improvements
  • Property ID: 94719
  • Block: 5
  • Lot Number: 1

Listed by Hygge Homes and Land, Lore Lane

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Listing agent

— 151 S 5th St —

  • Lore Lane

    Hygge Homes and Land

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 151 S 5th St

School District:Honey Grove Independent School District
NameGradesDistance
Honey Grove Elementary School
1202 North Seventh Street, Honey Grove, TX 75446
PK-50.4 mi
Honey Grove Middle School
1204 North Seventh Street, Honey Grove, TX 75446
6-80.4 mi
Honey Grove High School
1208 North Seventh Street, Honey Grove, TX 75446
9-120.4 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 151 S 5th St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/02/2026
Price Reduced
$650,000
-18.75%
MLS
12/15/2025
Price Reduced
$800,000
-20%
MLS
9/15/2025
Price Reduced
$1,000,000
-16.67%
MLS
7/11/2025
Listed
$1,200,000
—
MLS
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Be ready to buy your new home!

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NMLS#: 1598647

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Listed by Hygge Homes and Land, Lore Lane

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151 S 5th Street, Honey Grove, TX 75446 (MLS# 20996243) is a Business property. 151 S 5th Street is currently listed for $650,000 and was received on July 11, 2025. Want to learn more about 151 S 5th Street? Do you have questions about finding other Business real estate for sale in Honey Grove? You can browse all Honey Grove real estate or contact a Coldwell Banker agent to request more information.

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