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    The Largest CRE Database in the US with Over 1 Million Listings

    241 E Austin St Fredericksburg, TX 78624

    Sponsored
    For Sale
    $6,495,000

    Commercial Sale - Fredericksburg, TX

    Lot size:
    0.43 Acres
    Days on Market:
    26
    Last Refresh:
    Jan 23 at 8:06 am

    Property Features for 241 E Austin St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security Lighting
    Zoning
    CBD
    Parking features
    On Street
    Interior features
    Elevator, Restroom-public, Restroom-private, Handicap Access, Other-see Remarks
    Exterior features
    Fence, Loading Dock
    Fencing
    Fenced
    Accessibility
    Accessible Approach with Ramp, Accessible Elevator Installed
    Lot size
    0.43 Acres

    Utilities

    Heating system
    Central, Electric (Heating)

    Building Details

    Building materials
    Stone
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Michael Starks

    RE/MAX Town & Country (830) 456-6327 [email protected]

    Listing agent Michael W. Starks (830) 990-8708

    Listing date Dec 29, 2025

    MLS# 98115 Listing URL

    Copyright © 2026 Central Hill Country Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Fredericksburg Commercial Property For Sale

    This commercial property is located in Fredericksburg, Texas, prominently situated on a 0.43-acre corner lot in the heart of the Central Business District. The 6,461 square-foot building is across from the Convention and Visitors Bureau and the Nimitz Museum, and near the Albert Hotel. The property offers potential for various uses, including a restaurant, wine tasting room, or multi-shop retail complex. It is also suitable for office space. The first floor features a wine wall, high ceilings, a dining hall, private rooms, and three patios for dining and entertaining. The entrance includes a bar and reception area with butcher-block floors. The property includes expansive rooms with windows and patios, as well as three private spaces suitable for private dinners, VIP meetings, or offices. An elevator leads to an upstairs bar and dining space, a balcony overlooking the main floor, and a private patio with views of Fredericksburg. The back of the building, previously set up as a kitchen, includes an office and bar serving room for one of the back patios. There are eight restrooms, with two on each floor and additional sets on each of the large patios. Stonework walls surround the property, creating private outdoor spaces with fountains, fireplaces, and serving bars. The largest patio features a covered seating area suitable for events and live music. The flexible space can accommodate multiple businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sage Restaurant and Lounge Restaurant The Courtyard Takeaway at Sage Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Chase's Place Cocktails

    Location Insight

    • Map
    • Local Demand
    City
    Fredericksburg
    County
    Gillespie
    State
    Texas
    Longitude
    -98.8683436
    Latitude
    30.2736195

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    FAQs

    What type of property is this?
    Restaurant - Impressive building on a corner lot in the Central Business District.
    Where is this restaurant located?
    The property is located at 241 E Austin St Fredericksburg, TX.
    What is the asking price?
    The asking price for this property is $6,495,000.
    What are key features of this property?
    This property features: - Prime location in the heart of Fredericksburg, across from the Convention and Visitors Bureau and Nimitz Museum, steps from the Albert Hotel, ensuring high visibility and foot traffic.; - Large 6,461 sq ft building zoned for Central Business District, suitable for various commercial uses.; - Previously home to the renowned Sage Restaurant, with existing infrastructure for easy restaurant conversion.
    (830) 456-3532
    Request Owner's contact information
    241 E Austin St Fredericksburg, TX 78624
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    Fredericksburg, TX 78624
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    241 E Austin St Fredericksburg, TX 78624
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    We can help!
    Listing Contact
    Michael Starks
    Real Estate License ID: 489896
    (830) 456-3532
    Learn more
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