Historic Mixed-Use
For Sale
$989,000
107 NE 4th St, Smithville, TX 78957
Restored Victorian property with a detached guest house and residential-commercial zoning.
Property Size3,767 SF
Price / SF$262.54
Days on Market103
Property Features for 107 NE 4th St
General Information
Standard status
Active
Size
3,767 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,172
Building Details
Building Size
3,767 SF
Year Built
1891
Year Renovated
2022
Buildings
2
Listing Agency:
Kuper Sotheby's Int'l Realty
(512) 921-9134
Listed By:
Janis Penick · License #0483266
(512) 921-9134
Source:
Elliman
Added: May 21
Changed: Aug 30
Last Checked: Aug 30 at 5:16PM
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 Kuper Sotheby's Int'l Realty
Investment Insights
Based on property information with market context.
Olive House is a restored Victorian-era property comprising a 3,767-square-foot main residence and detached guest house. Built in 1891 and updated in 2022, the property retains long-leaf pine flooring, tall ceilings, period millwork, wraparound porches, gas lanterns, and mature shade trees. The primary residence contains 2,863 square feet with two bedrooms, two full bathrooms, and one half bathroom.
The detached 904-square-foot guest house adds a bedroom and full bathroom on the main level, along with an upper-level flex bedroom or studio area and half bathroom. Located on a corner lot in downtown Smithville, the property carries residential and commercial zoning, supporting a range of combined live-work or business-oriented configurations.
The detached 904-square-foot guest house adds a bedroom and full bathroom on the main level, along with an upper-level flex bedroom or studio area and half bathroom. Located on a corner lot in downtown Smithville, the property carries residential and commercial zoning, supporting a range of combined live-work or business-oriented configurations.
Key Highlights
- 3,767‑square‑foot mixed‑use property at 107 NE 4th St, Smithville, TX 78957
- Built in 1891 and restored in 2022
- Main residence offers 2,863 square feet, two bedrooms, two full baths, and one half bath
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
$62,156
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
6.28%
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%
$1,243,120
$1.2M
Cap Rate 7%
$887,943
$887.9K
Cap Rate 9%
$690,622
$690.6K
Market Conditions
NOI Build-Up for 3,767 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
$113.0K $30.00/SF
− Vacancy
−$13.6K −$3.60/SF
EGI
$99.4K $26.40/SF
− OpEx
−$37.3K −$9.90/SF
NOI
$62.2K $16.50/SF
Area
Bastrop County, TX
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,243,120
Cap Rate 7%
$887,943
Cap Rate 9%
$690,622
Alternative Uses
Best Use
Mixed Use
$887.9K
$777.0K – $1.04M
NOI $62,156 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,331 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
Explore this area
Business Placement
Demographics for 78957, TX
10,214
Population
4,743
Households
2.2
Avg Household Size
45
Median Age
24%
College-Educated
89%
High-School Grad
177.1 sq mi
ZIP Area
58
Density / Sq Mi
$62,796
Median Household Income
$39,731
Median Earnings
$1,169
Median Rent
$246,500
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restored Victorian property with a detached guest house and residential-commercial zoning.
Where is this mixed-use property located?
The property is located at 107 NE 4th St Smithville, TX.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: 3,767‑square‑foot mixed‑use property at 107 NE 4th St, Smithville, TX 78957; Built in 1891 and restored in 2022; Main residence offers 2,863 square feet, two bedrooms, two full baths, and one half bath
