Flex Space Business
For Sale
$4,449,900
10034 10046 E US Hwy 290, Fredericksburg, TX 78624
Commercial Sale, Fredericksburg, TX
Property Size20,000 SF
Lot Size5.00 Acres
Price / SF$222.50
Days on Market253
Property Features for 10034 10046 E US Hwy 290
General Information
Property type
Commercial Sale
Property subtype
Other
Elementary school district
Fredericksburg
Middle school district
Fredericksburg
High school district
Fredericksburg
Standard status
Active
Lot size
5.00 Acres
Taxes and HOA fees
Tax Annual Amount
20922
Listing Agency:
Reata Ranch Realty, LLC
(830) 992-3045
Listed By:
Sarah Wanek · License #TX704968
(830) 998-5884
Added: Jan 27
Changed: Aug 19
Last Checked: Oct 7 at 4:06PM
MLS# 100568
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 flex space property comprises approximately 5 acres with roughly 20,000 square feet of building area distributed among multiple structures. Existing tenants occupy the improvements, and the layout supports a range of commercial functions including warehouse, light industrial, service, artisan production, and showroom operations. The property is also positioned for businesses serving the surrounding wine and tourism activity.
Access and exposure come from direct frontage along US-290, providing a prominent commercial setting within the corridor. Well and septic systems are already installed, supporting the existing improvements and future property planning. Unrestricted zoning provides flexibility for continued leasing, owner occupancy, or changes to the current commercial configuration, subject to applicable requirements.
Access and exposure come from direct frontage along US-290, providing a prominent commercial setting within the corridor. Well and septic systems are already installed, supporting the existing improvements and future property planning. Unrestricted zoning provides flexibility for continued leasing, owner occupancy, or changes to the current commercial configuration, subject to applicable requirements.
Key Highlights
- Approximately 5 acres of commercial land
- Approximately 20,000 square feet across multiple structures
- Existing tenants in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$164,155
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,283,100
$3.3M
Cap Rate 7%
$2,345,071
$2.3M
Cap Rate 9%
$1,823,944
$1.8M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$294.0K $14.70/SF
− Vacancy
−$41.5K −$2.07/SF
EGI
$252.5K $12.63/SF
− OpEx
−$88.4K −$4.42/SF
NOI
$164.2K $8.21/SF
Area
Gillespie County, TX
Vacancy
14.10%
Lease Rate
$14.70 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,283,100
Cap Rate 7%
$2,345,071
Cap Rate 9%
$1,823,944
Alternative Uses
Best Use
Flex RnD
$2.35M
$2.05M – $2.74M
NOI $164,155 @ 7.0% cap · market cap 3.69%
Second Best
Warehouse
$1.79M
$1.56M – $2.08M
NOI $125,062 @ 7.0% cap · market cap 2.81%
Theoretical Best
Hotel Hospitality
$15.15M
$13.25M – $17.67M
NOI $1,060,200 @ 7.0% cap · market cap 23.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78624, TX
23,080
Population
12,421
Households
1.9
Avg Household Size
52
Median Age
37%
College-Educated
89%
High-School Grad
742.3 sq mi
ZIP Area
31
Density / Sq Mi
$67,987
Median Household Income
$37,047
Median Earnings
$1,347
Median Rent
$439,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Multi-structure commercial property with existing tenants, US-290 access, and unrestricted zoning.
Where is this flex space located?
The property is located at 10034 10046 E US Hwy 290 Fredericksburg, TX.
What is the asking price?
The asking price for this property is $4,449,900.
What are key features of this property?
This property features: Approximately 5 acres of commercial land; Approximately 20,000 square feet across multiple structures; Existing tenants in place
