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

    322 Thompson Dr Kerrville, TX 78028

    Sponsored
    For Sale
    $975,000

    SINGLE_FAMILY - Kerrville, TX

    Type:Office
    Property size:
    1,452 SF
    Lot size:
    2.87 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 28 at 12:06 pm

    Property Features for 322 Thompson Dr

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Active
    Zoning
    MU
    Parking
    10
    Exterior features
    Lighting, Storage
    Fencing
    Fenced
    Size
    1,452 SF
    Lot size
    2.87 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric, Central Air
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    1966
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Tile, Carpet, Simulated wood
    Building materials
    Stucco
    Roof type
    Wood, Composition
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Andrea ONeal
    Andrea ONeal

    Fore Premier Properties (830) 257-4000

    Listing agent Andrea ONeal (830) 285-7001

    Listing date Feb 27, 2026

    MLS# 122631

    Copyright © 2026 Kerrville 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

    Kerrville Mixed-Use Riverfront Opportunity

    This 2.87-acre mixed-use property is located on Thompson Dr/Spur 98 in Downtown Kerrville, near Louise Hayes Park. The property includes approximately 230 feet of Guadalupe River frontage. Currently, there are five buildings on the property, including two houses/offices and three outbuildings. The property also features approximately 120 feet of frontage on Thompson Dr and is zoned for Mixed-Use. An enchanting riverfront patio with a fire pit, TV, and a putting green is upcoming. The property offers potential uses such as a riverfront RV park utilizing the existing three RV hook-ups, a bed and breakfast, a retreat center, or a riverside bar and grill or restaurant. The property size is 1452 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Elizabeth Allen, SWBC ... Loan Service SWBC Mortgage Corporation Loan Service Leslie Robertson, SWBC ... Loan Service Samantha Robinett, SWBC ... Loan Service Brandi Rhinerson, SWBC ... Loan Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Kerrville
    County
    Kerr
    State
    Texas
    Longitude
    -99.1495899
    Latitude
    30.0470655

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    FAQs

    What type of property is this?
    Mixed-use property - 2.87-acre mixed-use property with river frontage in Kerrville, TX.
    Where is this mixed-use property located?
    The property is located at 322 Thompson Dr Kerrville, TX.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: - 2. 87-acre property with approximately 230 ft of Guadalupe River frontage; - Prime location in Downtown Kerrville on Thompson Dr/Spur 98 with approximately 120 ft of frontage and Mixed-Use zoning; - Five existing buildings, including two houses/offices and three outbuildings
    (830) 257-4000
    Request Owner's contact information
    322 Thompson Dr Kerrville, TX 78028
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    Kerrville, TX 78028
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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
    322 Thompson Dr Kerrville, TX 78028
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    We can help!
    Listing Contact
    Andrea ONeal
    Andrea ONeal
    Real Estate License ID: 0379520
    (830) 257-4000 (830) 257-5010 (830) 285-7001
    Learn more
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