Historic Mixed-Use Office/Retail
For Sale
$1,250,000
209 S Main Street, Salado, TX 76571
COMMERCIAL - Salado, TX
Property Size3,295 SF
Lot Size0.57 Acres
Price / SF$379.36
Days on Market97
Property Features for 209 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
City Lot, Half To One Acre Lot
View
Water
Directions
Use property address in GPS; From I-35 N: Take exit 284 onto S Main St, for 0.4 miles continue onto S Main St, in 0.5 the property is on your right. From I-35 S: Take exit 284, in 0.7 miles turn left onto Thomas Arnold Rd, in 800 ft turn right onto S Main St, in 800ft property is on left.
Standard status
Active
APN
48988
Size
3,295 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
A0398BC H W HURD, (OUTLOT), SALADO HOMES, ACCENTS OF SALADO, ACRES 0.569
Tax Annual Amount
5426
Legal Description
A0398BC H W HURD, (OUTLOT), SALADO HOMES, ACCENTS OF SALADO, ACRES 0.569
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water front
1
Amenities
covered porches
covered deck
gazebo deck
stone walkway
concrete patio
dedicated parking
private Salado Creek frontage
Building Details
Year built
1987
Floors in Building
2
Building materials
WoodSiding
Roof type
Metal
Listing Agency:
Serhant Texas, LLC
(346) 310-4739
Listed By:
Arion Crenshaw · License #0725111
(512) 994-6949
Added: Apr 30
Changed: Jul 24
Last Checked: Aug 4 at 6:06AM
MLS# 612101
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.
Located at 209 S Main Street in Salado, this historic 1800s landmark, known historically as the Old Davis Mill and designated as Historic Salado Site 18, offers office and retail space totaling 3,295 square feet on a 0.569-acre lot.
The property features newer siding and a freshly painted exterior, with updated HVAC systems and service on city sewer. The lower level is configured for flexibility, with each suite having its own dedicated entrance while the lower level opens into itself. The upstairs suite includes 2 bedrooms, a bathroom, kitchen, and living area, and the gazebo suite includes 1 bedroom with a bathroom. Leases are in place across a diversified tenant mix, with rent escalations already built in.
Outdoor amenities include covered porches, a covered deck, a gazebo deck, a stone walkway, dedicated parking, and an event-friendly concrete patio. The building is positioned directly on Main Street with approximately +/- 100 feet of private Salado Creek frontage.
The property features newer siding and a freshly painted exterior, with updated HVAC systems and service on city sewer. The lower level is configured for flexibility, with each suite having its own dedicated entrance while the lower level opens into itself. The upstairs suite includes 2 bedrooms, a bathroom, kitchen, and living area, and the gazebo suite includes 1 bedroom with a bathroom. Leases are in place across a diversified tenant mix, with rent escalations already built in.
Outdoor amenities include covered porches, a covered deck, a gazebo deck, a stone walkway, dedicated parking, and an event-friendly concrete patio. The building is positioned directly on Main Street with approximately +/- 100 feet of private Salado Creek frontage.
Key Highlights
- Historic Old Davis Mill (Historic Salado Site 18) on 0.57 acres in the Historic Village of Salado
- 3,295 sq ft of office and retail space with additional storage and utility space
- Leases in place with a diversified tenant mix (boutique, salon, office, massage) and rent escalations built in
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $101.2k | $30.72 |
| − Vacancy | −$27.7k | −$8.42 |
| EGI | $73.5k | $22.30 |
| − OpEx | −$18.4k | −$5.58 |
| NOI | $55.1k | $16.73 |
3,295 SF · lease $30.72/SF/yr · vacancy 27.40% · expense 25.00%
Alternative Uses
Best Use
Apartment 5plus
$33.71M
$29.50M – $39.33M
NOI $2,359,636 @ 7.0% cap · market cap 188.77%
Second Best
Office B
$787.4K
$689.0K – $918.6K
NOI $55,116 @ 7.0% cap · market cap 4.41%
Theoretical Best
Multifamily LT 5
$36.78M
$32.19M – $42.91M
NOI $2,574,884 @ 7.0% cap · market cap 205.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
Explore this area
Business Placement
Demographics for 76571, TX
8,937
Population
3,742
Households
2.4
Avg Household Size
45
Median Age
41%
College-Educated
94%
High-School Grad
125.0 sq mi
ZIP Area
71
Density / Sq Mi
$103,341
Median Household Income
$55,545
Median Earnings
$1,172
Median Rent
$395,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Historic 1800s building with updated HVAC, multiple suites, and private creek frontage along Main Street in Salado.
Where is this office building located?
The property is located at 209 S Main Street Salado, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Historic Old Davis Mill (Historic Salado Site 18) on 0.57 acres in the Historic Village of Salado; 3,295 sq ft of office and retail space with additional storage and utility space; Leases in place with a diversified tenant mix (boutique, salon, office, massage) and rent escalations built in
