Redevelopment Hotel and Restaurant
803 E Main St Fredericksburg, TX 78624
For Sale
$8,000,000
COMMERCIAL - Fredericksburg, TX
Property Size6,766 SF
Lot Size2.58 Acres
Price / SF$1,182
Days on Market18
Property Features for 803 E Main St
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C-2
- Standard status
- Active
- Lot size
- 2.58 Acres
Taxes and HOA fees
- Tax Annual Amount
- 64107
Listing Agency:
Pipkin Investments
(512) 844-7269
Listed By:
Matthew Pipkin
(512) 844-7269
Added: Jul 9
Changed: Jul 10
Last Checked: Jul 26 at 9:06PM
MLS# 104947
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.
Investment Insights
Based on property information with market context.
This C-2 redevelopment site on Main Street in Fredericksburg, TX totals 2.578 acres and includes the former Azure Hills Inn and Navajo Grill. The inn is described as 28 rooms, with space noted for additional keys. Navajo Grill is described as a 6,766 sf restaurant and retail complex, providing both dining and retail components within the assemblage.
The property is positioned between the 290 Wine Corridor and the historic downtown area of Fredericksburg. Public remarks also note that Gillespie County receives approximately 2.1 million tourists annually, supporting the area’s visitor and culinary/tourism focus.
For buyers, developers, and operators, the combination of lodging capacity and a restaurant/retail offering can support a hospitality-driven redevelopment plan, whether aimed at reconfiguring the inn layout or aligning the on-site dining and retail space with a broader guest experience. The on-site mix also offers flexibility for concepts that seek to serve both visitors and locals using a single, consolidated site.
The property is positioned between the 290 Wine Corridor and the historic downtown area of Fredericksburg. Public remarks also note that Gillespie County receives approximately 2.1 million tourists annually, supporting the area’s visitor and culinary/tourism focus.
For buyers, developers, and operators, the combination of lodging capacity and a restaurant/retail offering can support a hospitality-driven redevelopment plan, whether aimed at reconfiguring the inn layout or aligning the on-site dining and retail space with a broader guest experience. The on-site mix also offers flexibility for concepts that seek to serve both visitors and locals using a single, consolidated site.
Key Highlights
- 2.578‑acre redevelopment site on Main Street in Fredericksburg, TX
- Former Azure Hills Inn with 28 rooms, plus space for additional keys
- Navajo Grill 6,766 SF restaurant and retail complex
Financial Insights For Hotel Hospitality
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 | $811.9k | $120.00 |
| − Vacancy | −$56.8k | −$8.40 |
| EGI | $755.1k | $111.60 |
| − OpEx | −$396.4k | −$58.59 |
| NOI | $358.7k | $53.01 |
6,766 SF · lease $120.00/SF/yr · vacancy 7.00% · expense 52.50%
Alternative Uses
Best Use
Hotel Hospitality
$5.12M
$4.48M – $5.98M
NOI $358,666 @ 7.0% cap · market cap 4.48%
Second Best
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,422 @ 7.0% cap · market cap 1.53%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Hotels
FAQs
What type of property is this?
Hotel - C-2 Main Street redevelopment site with a former inn and an operating restaurant/retail complex for hospitality and dining concepts.
Where is this hotel located?
The property is located at 803 E Main St Fredericksburg, TX.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: 2.578‑acre redevelopment site on Main Street in Fredericksburg, TX; Former Azure Hills Inn with 28 rooms, plus space for additional keys; Navajo Grill 6,766 SF restaurant and retail complex
