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    550 North Washington Street Round Top, TX 78954

    View on Map
    For Sale
    $4,495,000

    Commercial,Commercial Sale - Round Top, TX

    Property size:
    18,631 SF
    Lot size:
    4.47 Acres
    Added:
    Jan 14, 2026
    Days on Market:
    77
    Last Refresh:
    Apr 1 at 9:06 pm

    Property Features for 550 North Washington Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Parking features
    Carport
    Standard status
    Active
    APN
    R51947
    Size
    18,631 SF
    Lot size
    4.47 Acres

    Building Details

    Floors in Building
    1
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Frank Hillbolt
    Frank Hillbolt

    Listing agent Frank Hillbolt License #502045

    Listing office ROUND TOP REAL ESTATE 101 Main St., ROUND TOP, TX

    Listing date Jan 14, 2026

    MLS# 150902 Listing URL

    Copyright © 2026 South Central Texas 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.

    Overview

    Iconic Dance Hall and Restaurant

    This unique commercial property in Round Top, Texas, features a registered Texas dance hall known for its musical legacy and hosting renowned artists. The property includes the "Pub," housed in the original La Grange railroad depot, which was relocated to Round Top in the 1990s. In 2023-2024, the building was expanded to include a full-service restaurant, commercial kitchen, and a speakeasy-style bar. Retail space is available for rent during the twice-yearly antique shows. The property offers expansive parking along Hwy 237 and an additional large rear lot for overflow parking. A 3-acre RV park with full hookups provides lodging, especially during the Round Top Antique Show, which is held twice a year, plus a newly added "winter" show. The property is situated on the desirable west side of Hwy 237 and has a total area of 18,631 square feet on a 4.472-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Mark Speakeasy Bar & Pub Round Top Dance ... Music Venue The Stone Cellar Restaurant The 550 District Shopping Center & Mall Old Depot Antiques Home Decor Store

    Suggested Use

    Law Firm Building Supply Spa & Massage Center Restaurant Hair Salon Big Box & Wholesale Store Nail Salon Pharmacy Real Estate Agency Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Round Top
    County
    Fayette
    State
    Texas
    Longitude
    -96.694682
    Latitude
    30.070585

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    FAQs

    What type of property is this?
    Theater & concert hall - Historic Round Top venue with dance hall, restaurant, and RV park.
    Where is this theater & concert hall located?
    The property is located at 550 North Washington Street Round Top, TX.
    What is the asking price?
    The asking price for this property is $4,495,000.
    What are key features of this property?
    This property features: Iconic, registered Texas dance hall with rich musical legacy and established reputation.; Includes a full‑service restaurant, commercial kitchen, and sophisticated "speakeasy" bar in the original La Grange railroad depot.; Expansive parking along Hwy 237 plus a large rear overflow lot.
    (979) 249-5732
    We can help!
    Listing Contact
    Frank Hillbolt
    Frank Hillbolt
    Real Estate License ID: 502045
    Learn More
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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
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