Add Listing
    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

    641 Mill Street San Marcos, TX 78666

    View on Map
    For Lease
    $5,603 /Mo

    COMMERCIAL - San Marcos, TX

    Property size:
    2,490 SF
    Lot size:
    5.67 Acres
    Added:
    Feb 17, 2026
    Days on Market:
    43
    Last Refresh:
    Apr 1 at 1:06 pm

    Property Features for 641 Mill Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    GC
    Standard status
    Active
    APN
    R143289
    Size
    2,490 SF
    Lot size
    5.67 Acres

    Taxes and HOA fees

    TaxDescription
    OLD MILL SUBDIVISION, Lot 3, ACRES 5.67

    Utilities

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

    Building Details

    Year built
    2020
    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Masonry

    We can help!

    Listing Contact
    Travis Kelsey

    Listing agent Travis Kelsey License #0785877

    Listing office Real Broker 2626 Cole Avenue Ste. 300, Dallas, TX

    Listing date Feb 17, 2026

    MLS# 604751

    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.

    Overview

    Retail Space in San Marcos

    This commercial property, located in San Marcos, Texas, offers 2490 square feet of retail space. The property is situated on a 5.67-acre lot. The zoning is GC. Please see virtual tour for video.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mill Street Crossing ... Mill Mill Street Market Gas Station Pollo loco Restaurant EZ Eats Kitchen ... Restaurant Leaf City Smoke ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    San Marcos
    County
    Hays
    State
    Texas
    Longitude
    -97.9162497
    Latitude
    29.8986447

    Nearby Similar for Lease

    • Contact for pricing

      San Marcos Professional Office Space

      Well-appointed office space suitable for medical, legal, or financial services.
      1920 Corporate Drive unit: 207B, San Marcos, TX 78666
      View Details
    • Contact for pricing

      Downtown San Marcos Retail/Office Space

      Retail/office space in a mixed-use building near Texas State.
      301 N Lbj Drive unit: 127, San Marcos, TX 78666
      View Details
    • Contact for pricing

      Downtown San Marcos Retail/Office Space

      Street-level commercial space in high-traffic area near campus.
      165 S Guadalupe Street unit: 112, San Marcos, TX 78666
      View Details
    • Contact for pricing

      San Marcos Office Suite For Rent

      Office suite with luxury finishes, easy access to IH 35.
      2108 Hunter Road unit: 106, San Marcos, TX 78666
      View Details
    • Contact for pricing

      Adaptable Commercial Space in San Marcos

      Versatile commercial property in central San Marcos, ready for your business.
      715 W Hopkins Street unit: 101, San Marcos, TX 78666
      View Details
    • Contact for pricing

      San Marcos Commercial Suites Available

      Versatile commercial suites for lease in central San Marcos.
      715 W Hopkins Street unit: 105, San Marcos, TX 78666
      View Details
    • Contact for pricing

      Versatile Suites in San Marcos

      Commercial property with suites suitable for retail, office, or medical.
      715 W Hopkins Street unit: 104, San Marcos, TX 78666
      View Details
    • Contact for pricing

      San Marcos Commercial Suites Available

      Versatile commercial suites for lease in central San Marcos.
      715 W Hopkins Street unit: 103, San Marcos, TX 78666
      View Details
    • $19/mo

      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
    • Contact for pricing

      San Marcos Class A Office

      Class A office space in a rapidly growing San Marcos.
      330 Wonder World Drive unit: 200, San Marcos, TX 78666
      View Details
    • Contact for pricing

      Downtown San Marcos Boutique Workspace

      Refined office spaces above Patio Dolcetto Wine Bar.
      322 Cheatham Street, San Marcos, TX 78666
      View Details
    • Contact for pricing

      Retail Space Near Bobcat Stadium

      Commercial space near Texas State University with high visibility.
      1330 Aquarena Springs Drive unit: 111, San Marcos, TX 78666
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available for lease in San Marcos, Texas.
    Where is this retail space located?
    The property is located at 641 Mill Street San Marcos, TX.
    What is the lease rate?
    The lease rate is $5,603 /Mo.
    What are key features of this property?
    This property features: Built in 2020, this property features relatively new construction.; Enjoy the comfort of central air conditioning.; Benefit from durable masonry construction.
    (512) 787-4318
    We can help!
    Listing Contact
    Travis Kelsey
    Real Estate License ID: 0785877
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!