Historic Retail
For Sale
$800,000
321 S Lbj Drive, San Marcos, TX 78666
COMMERCIAL - San Marcos, TX
Property Size2,962 SF
Lot Size0.31 Acres
Price / SF$270.09
Days on Market431
Property Features for 321 S Lbj Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Interior features
PullDownAtticStairs
Subdivision
D P Hopkins II
Lot features
City Lot, Quarter To Half Acre Lot
Elementary school district
San Marcos Cisd
Middle school district
San Marcos Cisd
High school district
San Marcos Cisd
Directions
From IH 35 south access road turn right on LBJ go .5 miles property on right
Standard status
Active
APN
R32215
Size
2,962 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
D P HOPKINS II LOT 11A BLK 1 0.3051 AC
Tax Annual Amount
6228
Legal Description
D P HOPKINS II LOT 11A BLK 1 0.3051 AC
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Floors in Building
2
Flooring type
Unfinished, Linoleum, Hardwood
Building materials
Clapboard, LapSiding
Roof type
Composition, Shingle
Listing Agency:
The Damron Group REALTORS
(512) 392-7653
Listed By:
Linda Jalufka · License #0637535
(512) 757-4850
Added: May 28, 2025
Changed: Jul 29
Last Checked: Aug 1 at 7:06AM
MLS# 578400
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.
This historic retail building was originally built in 1878 and later moved to its current site, with the structure brought to commercial code in 1988. The property offers a distinctive, long-standing building presence intended for commercial use in a downtown setting.
The building is located approximately one block from the County Courthouse square and about four blocks from the TX State campus. The property is zoned Downtown Character District 5, which calls for a range of potential commercial mix uses, including retail, office, residential, short term rental, and more. Moving the building again may open additional possibilities for this location, subject to applicable requirements.
The lot size is approximately 0.3051 acres, and the building size is listed at 2,962 square feet.
The building is located approximately one block from the County Courthouse square and about four blocks from the TX State campus. The property is zoned Downtown Character District 5, which calls for a range of potential commercial mix uses, including retail, office, residential, short term rental, and more. Moving the building again may open additional possibilities for this location, subject to applicable requirements.
The lot size is approximately 0.3051 acres, and the building size is listed at 2,962 square feet.
Key Highlights
- Historic building originally built in 1878, later moved to its current location and brought to commercial code in 1988
- Construction includes clapboard and lap siding, with shingle/composition roofing
- Zoned Downtown Character District 5 with potential commercial mix uses including retail, office, residential, and short‑term rental
Financial Insights For Retail
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 | $77.1k | $26.04 |
| − Vacancy | −$2.6k | −$0.89 |
| EGI | $74.5k | $25.15 |
| − OpEx | −$22.4k | −$7.55 |
| NOI | $52.2k | $17.61 |
2,962 SF · lease $26.04/SF/yr · vacancy 3.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$745.1K
$652.0K – $869.3K
NOI $52,156 @ 7.0% cap · market cap 6.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,673 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,642
Businesses Nearby
214k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 24%
Groceries 23%
Home Improvements & Furnishings 2%
H-E-B
Groceries
49,167 visits/mo
0.4 miles
Taco Bell
Dining
22,630 visits/mo
0.5 miles
Exxon
Shops & Services
13,361 visits/mo
0.5 miles
Casa Maria
Dining
11,838 visits/mo
0.4 miles
SONIC Drive In
Dining
11,105 visits/mo
0.5 miles
Demographics for 78666, TX
86,584
Population
36,354
Households
2.4
Avg Household Size
27
Median Age
35%
College-Educated
89%
High-School Grad
192.4 sq mi
ZIP Area
450
Density / Sq Mi
$55,478
Median Household Income
$25,890
Median Earnings
$1,294
Median Rent
$271,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Historic building built in 1878 and brought to commercial code in 1988, located near the courthouse square.
Where is this retail space located?
The property is located at 321 S Lbj Drive San Marcos, TX.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Historic building originally built in 1878, later moved to its current location and brought to commercial code in 1988; Construction includes clapboard and lap siding, with shingle/composition roofing; Zoned Downtown Character District 5 with potential commercial mix uses including retail, office, residential, and short‑term rental
