Medical Office Building with Private
For Sale
$425,000
1312 N US Highway 281, Lampasas, TX 76550
CommercialSale, Lampasas, TX
Property Size1,071 SF
Lot Size1.43 Acres
Price / SF$396.83
Days on Market188
Property Features for 1312 N US Highway 281
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Driveway
Lot features
One To Three Acres, Level, Mature Trees, Outside City Limits
Directions
Located close to the junction of Highways 190, 183, and 281 on the north side of Lampasas. Property is on east side of Highway 281 going north.
Standard status
Active
APN
8558
Size
1,071 SF
Lot size
1.43 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ABST 110 J R COOK, ACRES 1.43, VET CLINIC
Tax Annual Amount
2886
Legal Description
ABST 110 J R COOK, ACRES 1.43, VET CLINIC
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Window Unit(s), Central Air
Amenities
lobby
receiving desk
tile flooring
private exam rooms
built-in cabinetry
wash sinks
executive office
restroom
Building Details
Year built
2000
Floors in Building
1
Flooring type
Tile, Paintedstained, Concrete, Carpet
Building materials
StoneVeneer
Roof type
Metal
Listing Agency:
Texas Real Estate Sales
(512) 556-9090
Listed By:
Leah Caruthers · License #0561403
(512) 627-6670
Added: Feb 18
Changed: Aug 20
Last Checked: Aug 25 at 11:06AM
MLS# 604950
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,071-square-foot medical office property occupies 1.43 acres and includes a reception lobby, receiving desk, several private exam or consultation rooms, a private executive office, and one restroom. Built in 2000, the building features extensive built-in cabinetry, wash sinks, tile flooring, a metal roof, central heating, and central air conditioning. Parking is provided via driveway access, with septic service in place.
The property is located at 1312 N US Highway 281 in Lampasas, Texas, along a commercial corridor reporting more than 13,500 vehicles per day. Its highway-facing position and front-door parking support professional office operations requiring a shared reception area and multiple private rooms. The prior veterinary-clinic layout is suited to continued medical or professional office use without relying on a large open-plan configuration.
The property is located at 1312 N US Highway 281 in Lampasas, Texas, along a commercial corridor reporting more than 13,500 vehicles per day. Its highway-facing position and front-door parking support professional office operations requiring a shared reception area and multiple private rooms. The prior veterinary-clinic layout is suited to continued medical or professional office use without relying on a large open-plan configuration.
Key Highlights
- 1,071 square feet on 1.43 acres
- Located at 1312 N US Highway 281 in Lampasas, TX 76550
- Highway exposure with over 13,500 vehicles passing daily
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,158
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$283,160
$283.2K
Cap Rate 7%
$202,257
$202.3K
Cap Rate 9%
$157,311
$157.3K
Market Conditions
NOI Build-Up for 1,071 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.1K $21.60/SF
− Vacancy
−$4.3K −$3.97/SF
EGI
$18.9K $17.63/SF
− OpEx
−$4.7K −$4.41/SF
NOI
$14.2K $13.22/SF
Area
Lampasas County, TX
Vacancy
18.40%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$283,160
Cap Rate 7%
$202,257
Cap Rate 9%
$157,311
Alternative Uses
Best Use
Office B
$202.3K
$177.0K – $236.0K
NOI $14,158 @ 7.0% cap · market cap 3.33%
Second Best
Healthcare Medical
$163.0K
$142.7K – $190.2K
NOI $11,413 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$257.2K
$225.1K – $300.1K
NOI $18,007 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76550, TX
12,840
Population
6,129
Households
2.1
Avg Household Size
44
Median Age
22%
College-Educated
90%
High-School Grad
541.5 sq mi
ZIP Area
24
Density / Sq Mi
$73,697
Median Household Income
$34,970
Median Earnings
$902
Median Rent
$237,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional building includes reception, cabinetry, sinks, and a private office.
Where is this medical office space located?
The property is located at 1312 N US Highway 281 Lampasas, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,071 square feet on 1.43 acres; Located at 1312 N US Highway 281 in Lampasas, TX 76550; Highway exposure with over 13,500 vehicles passing daily
