Medical Office Building with Lobby, Exam
For Sale
$425,000
1312 N US Highway 281, Lampasas, TX 76550
COMMERCIAL - Lampasas, TX
Property Size1,071 SF
Lot Size1.43 Acres
Price / SF$396.83
Days on Market184
Property Features for 1312 N US Highway 281
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Off Street
Subdivision
20110
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 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
Central
Cooling system
Central Air
Building Details
Year built
2000
Floors in Building
1
Number of units
1
Flooring type
Tile, Concrete
Building materials
Rock, Stone
Roof type
Metal
Listing Agency:
TEXAS REAL ESTATE SALES
(512) 556-9090
Listed By:
Leah Caruthers · License #0561403
(512) 556-9090
Added: Feb 25
Changed: Aug 4
Last Checked: Aug 28 at 8:06AM
MLS# 21185213
Copyright © 2026 North Texas Real Estate Information Systems, Inc. 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.
Located at 1312 N US Highway 281 in Lampasas, this 1.43-acre medical office building offers a professional interior layout with space designed for patient traffic and privacy. Built in 2000, the property totals 1,071 square feet and features durable concrete and tile flooring, with rock and stone construction and a metal roof. Central heating and central air are in place, along with off-street parking and a septic tank.
The interior is arranged with a spacious lobby and a dedicated receiving desk, plus multiple private exam or consultation rooms. Each room is equipped with extensive built-in cabinetry and wash sinks, supported by a private executive office and a single restroom.
The property is positioned for visibility and customer access along Highway 281, where the remarks note over 13,500 vehicles passing daily. It was formerly used as a veterinary clinic, and the existing office configuration can support medical, dental, or other professional services requiring a common reception area and private rooms.
The interior is arranged with a spacious lobby and a dedicated receiving desk, plus multiple private exam or consultation rooms. Each room is equipped with extensive built-in cabinetry and wash sinks, supported by a private executive office and a single restroom.
The property is positioned for visibility and customer access along Highway 281, where the remarks note over 13,500 vehicles passing daily. It was formerly used as a veterinary clinic, and the existing office configuration can support medical, dental, or other professional services requiring a common reception area and private rooms.
Key Highlights
- Over 13,500 vehicles passing daily on Highway 281
- 1.43‑acre site with 1,071 SF medical office building
- Multiple private exam or consultation rooms with built‑in cabinetry and wash sinks
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
113
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 - Single-story medical office built in 2000 with central HVAC, lobby reception, and multiple private exam rooms.
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: Over 13,500 vehicles passing daily on Highway 281; 1.43‑acre site with 1,071 SF medical office building; Multiple private exam or consultation rooms with built‑in cabinetry and wash sinks
