Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    301 N Lbj Dr, Unit 127 San Marcos, TX 78666

    Sponsored
    For Lease
    $3,750 /Mo ($3 SF/Yr)

    COMMERCIAL - San Marcos, TX

    Property size:
    13,386 SF
    Lot size:
    0.18 Acres
    Days on Market:
    9
    Last Refresh:
    Feb 3 at 3:06 am

    Property Features for 301 N Lbj Dr

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    CD-5D
    Rooms
    Bathroom 1
    APN
    R168257
    Parking
    1
    Size
    13,386 SF
    Lot size
    0.18 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2021
    Floors in Building
    2
    Number of units
    1
    Flooring type
    Vinyl
    Building materials
    Masonry

    We can help!

    Listing Contact
    Michael Nolen
    Michael Nolen

    McNabb & Company Real Estate Services (512) 667-9129

    Listing agent Michael Nolen (512) 667-9129 License #0621420

    Listing date Jan 26, 2026

    MLS# 599320

    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.

    Learn more

    Property Insight Report

    Overview

    Downtown San Marcos Retail/Office Space

    Located in downtown San Marcos, this office/retail space offers approximately 1300 square feet of shell space. It is situated in a newer, beautifully designed, mixed-use building at the corner of LBJ Drive and Hutchison Street, just off the Square. The property is located blocks from the Texas State University campus and within walking distance of the San Marcos River. The location benefits from substantial foot traffic and is surrounded by dense urban living, including The Local, Aspire, The View, The Parlor, Vistas, various retail shops, fast food chains, and eateries. The property is located in Hays County, Texas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Miracle Leaf Physician Miracle Leaf Medical ... Medical Clinic Blind Salamander Cantina ... Restaurant Blind Salamander Cantina Bar & Pub Nichols Tire & Automotive Auto Repair Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    San Marcos
    County
    Hays
    State
    Texas
    Longitude
    -97.9406623
    Latitude
    29.884584

    Nearby Similar for Lease

    • $19 SF/Yr
      12,325 SF

      Prime Commercial Spaces Near University

      Versatile commercial spaces available for lease near Texas State University.
      1224 N State Highway 123, San Marcos, TX 78666
      View Details
    • $3,583 /Mo
      40,763 SF

      Adaptable Commercial Space in San Marcos

      Versatile commercial property in central San Marcos, ready for your business.
      715 W Hopkins St, San Marcos, TX 78666
      View Details
    • $1,406 /Mo
      4,814 SF

      San Marcos Commercial Suites Available

      Versatile commercial suites for lease in central San Marcos.
      715 W Hopkins St, San Marcos, TX 78666
      View Details
    • $1,406 /Mo
      4,814 SF

      San Marcos Commercial Suites Available

      Versatile commercial suites for lease in central San Marcos.
      715 W Hopkins St, San Marcos, TX 78666
      View Details
    • $1,406 /Mo
      4,814 SF

      San Marcos Commercial Suites Available

      Versatile commercial suites for lease in central San Marcos.
      715 W Hopkins St, San Marcos, TX 78666
      View Details
    • $1,406 /Mo
      4,814 SF

      Versatile Suites in San Marcos

      Commercial property with suites suitable for retail, office, or medical.
      715 W Hopkins St, San Marcos, TX 78666
      View Details
    • $1,500 /Mo
      1,880 SF

      Downtown San Marcos Boutique Workspace

      Refined office spaces above Patio Dolcetto Wine Bar.
      322 Cheatham St, San Marcos, TX 78666
      View Details
    • $7,500 /Mo
      7,783 SF

      San Marcos Class A Office

      Class A office space in a rapidly growing San Marcos.
      330 Wonder World Dr, San Marcos, TX 78666
      View Details
    • $2,900 /Mo
      1,206 SF

      Prime I-35 Office Property

      Exceptional commercial property for lease on the I-35 corridor.
      1712 N Interstate 35, San Marcos, TX 78666
      View Details
    • $2,100 /Mo
      967 SF

      San Marcos Office Suite For Rent

      Office suite for rent near I-35 and Hays County Government Center.
      1913 Dutton Dr, San Marcos, TX 78666
      View Details
    • $1,800 /Mo
      31,102 SF

      Retail Space Near Bobcat Stadium

      Commercial space near Texas State University with high visibility.
      1330 Aquarena Springs Dr, San Marcos, TX 78666
      View Details
    • $1,350 /Mo

      San Marcos Condo with Balcony

      Charming 2-bedroom condo near parks and local amenities.
      1013 Chestnut St, San Marcos, TX 78666
      View Details

    FAQs

    What type of property is this?
    Retail space - Shell space in mixed-use building near Texas State University campus.
    Where is this retail space located?
    The property is located at 301 N Lbj Dr, Unit 127 San Marcos, TX.
    What is the lease rate?
    The lease rate is $3 SF/Yr.
    What are key features of this property?
    This property features: - Prime Downtown San Marcos Location: Corner of LBJ Drive and Hutchison Street, just off the Square.; - High-Traffic Area: Surrounded by dense urban living, retail shops, and eateries.; - Proximity to Texas State University: Located just blocks from campus.
    (254) 931-0102
    Request Owner's contact information
    301 N Lbj Dr, Unit 127 San Marcos, TX 78666
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    301 N Lbj Dr, Unit 127
    San Marcos, TX 78666
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    301 N Lbj Dr, Unit 127 San Marcos, TX 78666
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michael Nolen
    Michael Nolen
    Real Estate License ID: 0621420
    (254) 931-0102
    Learn more
    Google sign-in failed. Please try again or use another login method.