Add Listing
    For Sale
    • 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

    328 Lehne Ln Fredericksburg, TX 78624

    View on Map
    Sponsored
    For Sale
    $379,000

    Rural Subdivision Lots/Tracts - Farm Land,Single Family Residential

    Type:Farm
    Lot size:
    10.17 Acres
    Days on Market:
    5
    Last Refresh:
    Mar 27 at 12:06 pm

    Property Features for 328 Lehne Ln

    General Information

    Property type
    Land
    Property subtype
    Farm
    Standard status
    Active
    Zoning
    None
    Exterior features
    None
    Lot size
    10.17 Acres

    Taxes and HOA fees

    Expense value
    100
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jennifer Traver
    Jennifer Traver

    Keller Willis San Antonio Inc

    Listing agent Jennifer Traver

    Listing date Mar 23, 2026

    MLS# 103994 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 Land with Hill Country Views

    This 10.165+ acre property is located just 5 miles from historic Fredericksburg, offering views of rolling hills and open fields of the Texas Hill Country. The Ag-exempt land features native pasture terrain with scattered mature Live Oak trees. The mostly level and slightly rolling terrain creates multiple homesite options, suitable for building a dream home or weekend retreat. Reasonable restrictions allow for flexibility and the ability to add accessory buildings such as guest quarters, a barn, or a workshop. Short-term rentals are also permitted. A private all-weather road provides access to the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Restaurant Auto Repair Shop Bed & Breakfast Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Fredericksburg
    County
    Gillespie
    State
    Texas
    Longitude
    -98.8315521
    Latitude
    30.3434366

    Nearby Similar for Sale

    • $975,000
      0.21 Acres

      Fredericksburg Commercial Investment Opportunity

      Four rental units on busy N Llano St, Fredericksburg, TX.
      812 N Llano St, Fredericksburg, TX 78624
      View Details
    • $999,995
      0.61 Acres

      Fredericksburg Commercial Redevelopment Opportunity

      Value-add or redevelopment opportunity near Main Street in Fredericksburg, TX.
      405 S Washington St, Fredericksburg, TX 78624
      View Details
    • $199,000
      4,791 SF

      Hill Country Resort Lot

      Corner lot in luxury RV and tiny home resort.
      5386 Ranch Road 1376, Fredericksburg, TX 78624
      View Details
    • $1,500,000
      4.10 Acres

      Established Pet Care Business

      Turnkey pet care and grooming facility on 4.1 acres.
      59 Segner Rd, Fredericksburg, TX 78624
      View Details
    • $895,000
      1,224 SF

      Texas Hill Country Acreage

      Unrestricted 46.79 acres with a charming 2-bedroom home.
      2050 Adj Ln, Fredericksburg, TX 78624
      View Details
    • New
      $399,500
      0.32 Acres

      Fredericksburg Commercial Property For Sale

      Commercial property with C-1 zoning suitable for various business uses.
      809 N Llano St, Fredericksburg, TX 78624
      View Details
    • $699,000
      Pending

      Charming Victorian Gem in Fredericksburg

      1920s Victorian with STR permit, near Main Street.
      303 W Austin St, Fredericksburg, TX 78624
      View Details
    • New
      $2,495,000
      3,200 SF

      Fredericksburg Ranch with Hill Country Home

      Exceptional estate with spacious home, pool, and panoramic views.
      1556 Pfiester Rd, Fredericksburg, TX 78624
      View Details
    • $950,000
      2,352 SF

      Fredericksburg Investment Opportunity

      10.5 acres on Ranch Road 965, Fredericksburg, TX.
      8451 Ranch Road 965, Fredericksburg, TX 78624
      View Details
    • $325,000
      0.20 Acres

      Fredericksburg Tiny Home Investment Opportunity

      Fully furnished tiny home near Main Street, Fredericksburg.
      5386 Ranch Road 1376, Fredericksburg, TX 78624
      View Details
    • $1,675,000
      3,182 SF

      Texas Hill Country Horse Property

      Ag-exempt 28+ acres near Fredericksburg with home and guest apartment.
      647 Funf Kinder Rd, Fredericksburg, TX 78624
      View Details
    • $1,675,000
      3,189 SF

      Texas Hill Country Horse Property

      Ag-exempt 28+ acre ranch near Fredericksburg with home and amenities.
      647 Funf Kinder Rd, Fredericksburg, TX 78624
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - Picturesque 10.17 acre Ag-exempt land near Fredericksburg, Texas.
    Where is this agricultural land / farmland located?
    The property is located at 328 Lehne Ln Fredericksburg, TX.
    What is the asking price?
    The asking price for this property is $379,000.
    What are key features of this property?
    This property features: - 10.165+ acre Ag-exempt property with **panoramic Texas Hill Country views**; - Located just 5 miles from historic Fredericksburg, offering convenient access to amenities; - Multiple homesite options due to mostly level and slightly rolling terrain with mature Live Oak trees
    (830) 456-7349
    Request Owner's contact information
    328 Lehne Ln Fredericksburg, TX 78624
    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.
    328 Lehne Ln
    Fredericksburg, TX 78624
    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
    328 Lehne Ln Fredericksburg, TX 78624
    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
    Jennifer Traver
    Jennifer Traver
    Real Estate License ID: 0677074
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!