Creekfront Resort with Guest
New
For Sale
$995,000
10279 Hwy 290, Fredericksburg, TX 78624
Commercial Sale, Fredericksburg, TX
Property Size4,608 SF
Lot Size8.95 Acres
Price / SF$215.93
Days on Market2
Property Features for 10279 Hwy 290
General Information
Property type
Commercial Sale
Property subtype
Other
Exterior features
Storage
Lot features
Ag Exempt, Flood Plain, Level, Wooded
Elementary school
Fredericksburg
Subdivision
84-Gillespie County
Standard status
Active
Size
4,608 SF
Lot size
8.95 Acres
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Window Unit(s), Electric
Water source
Well
Water front features
Creek
Building Details
Year built
2003
Floors in Building
2
Number of units
6
Flooring type
Tile, Simulated wood
Building materials
Wood Siding
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Fore Premier Properties
(830) 257-4000
Listed By:
Laura Fore · License #TREC#0557049
(830) 459-4000
Added: Sep 28
Last Checked: Sep 29 at 10:06PM
MLS# 125563
Copyright © 2026 Kerrville 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 resort property spans 8.95 acres and includes six guest cabins, each connected to its own septic system. The improvements total 4,608 square feet and date to 2003. Construction includes wood siding and a metal roof; water is supplied by a well. Heating and cooling are provided through a mix of central and individual systems.
The property follows 740 feet of Grape Creek and is located along Hwy 290, about 9 miles from Fredericksburg. Wineries, tasting rooms, and other destinations along the Hwy 290 Wine Corridor are nearby.
The property follows 740 feet of Grape Creek and is located along Hwy 290, about 9 miles from Fredericksburg. Wineries, tasting rooms, and other destinations along the Hwy 290 Wine Corridor are nearby.
Key Highlights
- Six guest cabins, each with a separate septic system
- 8.95 acres with 740' of Grape Creek frontage
- 4,608 square feet of improvements
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
$32,384
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
3.25%
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%
$647,680
$647.7K
Cap Rate 7%
$462,629
$462.6K
Cap Rate 9%
$359,822
$359.8K
Market Conditions
NOI Build-Up for 4,608 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
$66.9K $14.52/SF
− Vacancy
−$8.0K −$1.74/SF
EGI
$58.9K $12.78/SF
− OpEx
−$26.5K −$5.75/SF
NOI
$32.4K $7.03/SF
Area
Gillespie County, TX
Vacancy
12.00%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
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%
$647,680
Cap Rate 7%
$462,629
Cap Rate 9%
$359,822
Alternative Uses
Best Use
Hotel Hospitality
$3.49M
$3.05M – $4.07M
NOI $244,270 @ 7.0% cap · market cap 24.55%
Second Best
Apartment 5plus
$462.6K
$404.8K – $539.7K
NOI $32,384 @ 7.0% cap · market cap 3.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
39
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily 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?
Resort - Six separate lodging units sit on a wooded property with private creek frontage.
Where is this resort located?
The property is located at 10279 Hwy 290 Fredericksburg, TX.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Six guest cabins, each with a separate septic system; 8.95 acres with 740' of Grape Creek frontage; 4,608 square feet of improvements
