Flex Property With Commercial
For Sale
$1,500,000
2421 Usener Rd, Fredericksburg, TX 78624
Land, Fredericksburg, TX
Property Size13,376 SF
Lot Size19.03 Acres
Price / SF$112.14
Days on Market31
Property Features for 2421 Usener Rd
General Information
Property type
Land
Property subtype
Other
Zoning
OCL
Elementary school
Call District
Middle school
Call District
High school
Call District
Elementary school district
CALL DISTRICT
Middle school district
CALL DISTRICT
High school district
CALL DISTRICT
Subdivision
3100
Standard status
Active
Size
13,376 SF
Lot size
19.03 Acres
Taxes and HOA fees
Tax Annual Amount
8291
Amenities
commercial kitchen
wood-fired pizza oven
executive office areas
storage
open gathering spaces
Listing Agency:
Uriah Real Estate Organization
(830) 600-5263
Listed By:
Uri Uriah · License #9002555
(210) 315-8885
Added: Jul 29
Changed: Aug 20
Last Checked: Aug 28 at 4:06PM
MLS# 2003827
Copyright © 2026 LERA MLS. 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 19.03-acre property includes 13,376 square feet of improvements arranged for flexible commercial use. The primary structure contains a commercial kitchen with a wood-fired pizza oven, executive office areas, substantial storage, and open gathering spaces. The existing layout previously supported a boutique winery and provides a range of established interior components for future adaptation.
Located 9 miles west of Fredericksburg, the property offers access to U.S. Highway 290 and sits near the 290 Wine Trail. The land is identified as AG-exempt in the property information and is zoned OCL. In addition to the existing building, the acreage provides room for outdoor use, agricultural activity, or additional improvements.
Located 9 miles west of Fredericksburg, the property offers access to U.S. Highway 290 and sits near the 290 Wine Trail. The land is identified as AG-exempt in the property information and is zoned OCL. In addition to the existing building, the acreage provides room for outdoor use, agricultural activity, or additional improvements.
Key Highlights
- 13,376 SF of commercial improvements on 19.03 acres
- Commercial kitchen with wood‑fired pizza oven
- Executive office areas, storage, and open gathering spaces
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
$109,787
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
7.32%
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%
$2,195,740
$2.2M
Cap Rate 7%
$1,568,386
$1.6M
Cap Rate 9%
$1,219,856
$1.2M
Market Conditions
NOI Build-Up for 13,376 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
$196.6K $14.70/SF
− Vacancy
−$27.7K −$2.07/SF
EGI
$168.9K $12.63/SF
− OpEx
−$59.1K −$4.42/SF
NOI
$109.8K $8.21/SF
Area
Gillespie County, TX
Vacancy
14.10%
Lease Rate
$14.70 /SF/Yr
Expense Ratio
35.00%
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%
$2,195,740
Cap Rate 7%
$1,568,386
Cap Rate 9%
$1,219,856
Alternative Uses
Best Use
Flex RnD
$1.57M
$1.37M – $1.83M
NOI $109,787 @ 7.0% cap · market cap 7.32%
Second Best
Industrial
$984.0K
$861.0K – $1.15M
NOI $68,881 @ 7.0% cap · market cap 4.59%
Theoretical Best
Hotel Hospitality
$10.13M
$8.86M – $11.82M
NOI $709,062 @ 7.0% cap · market cap 47.27%
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
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78624, TX
23,080
Population
12,421
Households
1.9
Avg Household Size
52
Median Age
37%
College-Educated
89%
High-School Grad
742.3 sq mi
ZIP Area
31
Density / Sq Mi
$67,987
Median Household Income
$37,047
Median Earnings
$1,347
Median Rent
$439,600
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Adaptable acreage includes a commercial-grade building with kitchen, offices, storage, and open gathering areas.
Where is this flex space located?
The property is located at 2421 Usener Rd Fredericksburg, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 13,376 SF of commercial improvements on 19.03 acres; Commercial kitchen with wood‑fired pizza oven; Executive office areas, storage, and open gathering spaces
