Commercial Park in Texas Wine
For Sale
Contact for pricing
10046 US-290, Fredericksburg, TX 78624
Income-producing commercial park on 5 acres in Texas Hill Country.
Property Size24,000 SF
Lot Size5.00 Acres
Price / SF$185.41
Days on Market524
Property Features for 10046 US-290
General Information
Standard status
Active
Size
24,000 SF
Lot size
5.00 Acres
Property subtype
Industrial, Mixed Use, Retail, Self Storage
Occupancy
80%
Lease Type
Modified Gross
Building Details
Buildings
5
Units
15
Tenancy
Multi
Listing Agency:
Reata Ranch Realty, LLC
(325) 347-4702
Listed By:
Michele "Mitch" Smith · License #Tx9002241
Source:
Crexi
Added: Mar 6, 2025
Changed: Aug 8
Last Checked: Aug 11 at 4:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Reata Ranch Realty, LLC
Investment Insights
Based on property information with market context.
This income-producing commercial business park is strategically positioned along the US-290 Wine Corridor. The property offers approximately 5 unrestricted acres in the Texas Hill Country. Surrounded by wineries, tasting rooms, and destination venues, the property delivers visibility, accessibility, and long-term investment appeal. The property features approximately 20,000 square feet of existing building space, configured across multiple structures, with tenants currently in place, providing cash flow and stabilized income. Improvements are suited for a variety of commercial uses, including light industrial, warehouse, flex space, artisan production, service-based businesses, and retail support for the surrounding wine and tourism industry. With direct frontage and access from US-290, the site benefits from traffic exposure and brand visibility. Well and septic systems are in place. The unrestricted zoning offers flexibility, allowing new ownership to maintain the current income model, reposition the asset, or pursue redevelopment opportunities tailored to market demand. Potential uses include expanded commercial leasing, wine-adjacent businesses, hospitality support services, storage, showroom space, or a custom owner-user headquarters with additional income streams. The property size is approximately 24,000 square feet.
Key Highlights
- Prime location on the highly traveled US‑290 Wine Corridor in Texas Wine Country.
- Approximately 5 unrestricted acres with potential for expansion.
- Existing 20,000± square feet of building space with tenants in place, providing immediate income.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$356,268
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,125,360
$7.1M
Cap Rate 7%
$5,089,543
$5.1M
Cap Rate 9%
$3,958,533
$4.0M
Market Conditions
NOI Build-Up for 24,000 SF
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.
Gross rent
$541.4K $22.56/SF
− Vacancy
−$32.5K −$1.35/SF
EGI
$509.0K $21.21/SF
− OpEx
−$152.7K −$6.36/SF
NOI
$356.3K $14.84/SF
Area
Gillespie County, TX
Vacancy
6.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,125,360
Cap Rate 7%
$5,089,543
Cap Rate 9%
$3,958,533
Alternative Uses
Best Use
Retail
$5.09M
$4.45M – $5.94M
NOI $356,268 @ 7.0% cap · market cap 8.01%
Second Best
Warehouse
$2.14M
$1.88M – $2.50M
NOI $150,075 @ 7.0% cap · market cap 3.37%
Theoretical Best
Hotel Hospitality
$18.17M
$15.90M – $21.20M
NOI $1,272,240 @ 7.0% cap · market cap 28.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-producing commercial park on 5 acres in Texas Hill Country.
Where is this mixed-use property located?
The property is located at 10046 US-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: Prime location on the highly traveled US‑290 Wine Corridor in Texas Wine Country.; Approximately 5 unrestricted acres with potential for expansion.; Existing 20,000± square feet of building space with tenants in place, providing immediate income.
