Versatile Commercial Building on Corner
1008 S Walnut St, Lampasas, TX 76550
2500 SF steel building with high ceilings and roll-up doors.
Type:Commercial
Property size:
2,500 SFPrice / SF:
$170/SF- Added:
- Apr 24, 2026
- Days on Market:
- 31
- Last Refresh:
- Apr 24 at 5:38 pm
Property Features for 1008 S Walnut St
General Information
- Standard status
- Active
- Size
- 2,500 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1970
Listing agent Leah Caruthers License #0561403 (512) 627-6670
Listing office Texas Real Estate Sales (512) 627-6670
Listing date Apr 24, 2026
Source Elliman
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 Texas Real Estate Sales
HighLights
- High‑visibility location on Hwy 281, ideal for business exposure.
- 2500 sq ft steel‑framed building with 18–20 ft ceilings and three 14‑foot roll‑up doors.
- Fully spray foam insulated with skylights and solar window screens.
- Updated water, sewer, and 200 Amp electrical service, plus extra sewer drain line.
- Large corner lot with potential for expansion or parking.
- Two 50‑amp RV plugs and exterior GFI outlets.
Overview
This solid, steel-framed building offers 2500 square feet of versatile space. The building is fully spray foam insulated and features skylights and windows that provide ample natural light. Solar window screens help to reduce heat. The interior boasts 18–20-foot ceilings and three large 14-foot-tall roll-up doors, two at the front and one at the rear, facilitating airflow. Updated water and sewer lines accompany a newly installed bathroom. An additional sewer drain line is in place for a second restroom or kitchen area. The electrical system has been upgraded to 200 Amp service, and two 50-amp RV plugs are installed on the front, along with weatherproof GFI outlets. The office space is equipped with a window unit for cooling and a portable oil heater. It offers a view of the open bay and a pass-through. Originally heated by a natural gas heater, the building now uses electric and propane portable heaters. A swamp cooler and fans provide cooling during warmer months. An upgraded exterior security door and emergency exit signs have been installed. Additional storage is available above the office. Exterior weather GFI outlets are installed for extension cords or lighting. Situated on a large grass corner lot, the property offers potential for additional structures or parking. A heritage pecan tree provides shade. The location offers significant exposure to Hwy 281 traffic. The building has previously housed a radiator shop, garden center, antique store, and auto body fabrication.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$330.4K
NOI $29,736 @ 9.00% cap · cautious / downside scenario
Moderate
$424.8K
NOI $29,736 @ 7.00% cap · market / base-case scenario
Aggressive
$594.7K
NOI $29,736 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.0k | $18.00 |
| − Vacancy | −$2.5k | −$1.01 |
| EGI | $42.5k | $16.99 |
| − OpEx | −$12.7k | −$5.10 |
| NOI | $29.7k | $11.89 |
2,500 SF · lease $18.00/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$424.8K
$371.7K – $495.6K
NOI $29,736 @ 7.0% cap · market cap 7.00%
Second Best
Warehouse
$256.8K
$224.7K – $299.6K
NOI $17,978 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$600.5K
$525.4K – $700.6K
NOI $42,034 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Lucy Suz
Home Decor Store
Location Insight
- Map
- Local Demand
- City
- Lampasas
- County
- Lampasas
- State
- Texas
- Longitude
- -98.181448
- Latitude
- 31.058769
Nearby Similar for Sale
FAQs
What type of property is this?
Flex space - 2500 SF steel building with high ceilings and roll-up doors.
Where is this flex space located?
The property is located at 1008 S Walnut St Lampasas, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: High‑visibility location on Hwy 281, ideal for business exposure.; **2500 sq ft steel‑framed building with 18–20 ft ceilings and three 14‑foot roll‑up doors.**; Fully spray foam insulated with skylights and solar window screens.
