Wedding and Event Venue with
New
For Sale
$2,150,000
1090 FM 32, San Marcos, TX 78666
Unrestricted acreage includes an event building, a residence, and separate guest quarters.
Property Size5,325 SF
Lot Size15.00 Acres
Price / SF$403.76
Days on Market1
Property Features for 1090 FM 32
General Information
Standard status
Active
Size
5,325 SF
Total Parking Spaces
40
Lot size
15.00 Acres
Restaurant
Patio
Yes
Equipment Included
No
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$10,470
Amenities
rainwater collection
See Remarks
Ceiling Fan(s), Central Air, Electric
See Remarks, Hot Water
Driveway, Parking Lot
Building Details
Building Size
5,325 SF
Year Built
2015
Year Renovated
2023
Buildings
4
Listing Agency:
JBG Commercial
Listed By:
Michael Ashby · License #668161
(512) 820-2192
Source:
Evrealestate
Added: Sep 24
Last Checked: Sep 24 at 11:40AM
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 JBG Commercial
Investment Insights
Based on property information with market context.
The property includes a 2,025-square-foot commercial event building, constructed in 2015 and expanded in 2023. Its former uses included a distillery tasting room, bar, and event venue. A shaded patio and rainwater collection system are among the site improvements. Across the property, four structures provide approximately 5,325 square feet of built area: the commercial building, a 1,800-square-foot residence, 1,200-square-foot guest quarters, and a 300-square-foot shed. The residence has two full baths and one half bath; the separate guest quarters have one bedroom and one bath.
The approximately 15-acre property fronts FM 32 in unincorporated western Hays County, less than a mile from Ranch Road 12. It has no city zoning and is not subdividable. More than 40 asphalt parking spaces serve the site. Approximately 13 acres have a wildlife management valuation; continuation and potential rollback exposure may change with use. The sale covers the real estate and improvements, not the former business or its operating assets.
The approximately 15-acre property fronts FM 32 in unincorporated western Hays County, less than a mile from Ranch Road 12. It has no city zoning and is not subdividable. More than 40 asphalt parking spaces serve the site. Approximately 13 acres have a wildlife management valuation; continuation and potential rollback exposure may change with use. The sale covers the real estate and improvements, not the former business or its operating assets.
Key Highlights
- 15+/- unrestricted acres fronting FM 32
- Approximately 2,025 SF event building, built in 2015 with a 2023 addition
- Approximately 5,325 SF across four structures
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
$100,461
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
4.67%
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%
$2,009,220
$2.0M
Cap Rate 7%
$1,435,157
$1.4M
Cap Rate 9%
$1,116,233
$1.1M
Market Conditions
NOI Build-Up for 5,325 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
$138.7K $26.04/SF
− Vacancy
−$4.7K −$0.89/SF
EGI
$133.9K $25.15/SF
− OpEx
−$33.5K −$6.29/SF
NOI
$100.5K $18.87/SF
Area
Hays County, TX
Vacancy
3.40%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$2,009,220
Cap Rate 7%
$1,435,157
Cap Rate 9%
$1,116,233
Alternative Uses
Best Use
Specialty Retail
$1.44M
$1.26M – $1.67M
NOI $100,461 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $155,819 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 78666, TX
86,584
Population
36,354
Households
2.4
Avg Household Size
27
Median Age
35%
College-Educated
89%
High-School Grad
192.4 sq mi
ZIP Area
450
Density / Sq Mi
$55,478
Median Household Income
$25,890
Median Earnings
$1,294
Median Rent
$271,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Wedding venue - Unrestricted acreage includes an event building, a residence, and separate guest quarters.
Where is this wedding venue located?
The property is located at 1090 FM 32 San Marcos, TX.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 15+/- unrestricted acres fronting FM 32; Approximately 2,025 SF event building, built in 2015 with a 2023 addition; Approximately 5,325 SF across four structures
