Mixed-Use Property with Highway
For Sale
$3,300,000
Pending
3317 East State Highway 29, Bertram, TX 78605
Unrestricted property combines a leased bar and grill with a residence and substantial highway exposure.
Property Size8,301 SF
Days on Market1648
Property Features for 3317 East State Highway 29
General Information
Standard status
Pending
Size
8,301 SF
Total Parking Spaces
40
Property subtype
Commercial Sale / Mixed Use
Property Condition
Severity
Repairs Needed
Evidence
needs some cosmetic work
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Patio
Yes
Taxes and HOA fees
Annual Taxes
$5,098
Building Details
Year Built
2005
Buildings
2
Listing Agency:
Keller Williams - Lake Travis
(512) 263-9090
Listed By:
Robert Pahmiyer · License #0696749
(512) 263-9090
Source:
Compass
Added: Feb 24, 2022
Changed: Aug 29
Last Checked: Aug 29 at 7:32PM
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 Keller Williams - Lake Travis
Investment Insights
Based on property information with market context.
This mixed-use property includes the Hometown Watering Hole bar and grill, a separate residence, and outdoor concrete patio areas. The commercial building provides 5,301 square feet of main-area space and 960 square feet of storage, along with a concrete patio and porch. The bar lease runs through December 31, 2023, with lease income generated by the occupant.
The residence measures 3,000 square feet and contains three bedrooms, 3½ baths, ample storage, and a large concrete patio; cosmetic work is needed. The property has over 340 feet along the south side of State Highway 29, 2.5 miles east of Bertram and 7.5 miles west of Liberty Hill. Its unrestricted designation supports consideration of uses identified in the source, including RV or boat storage, storage units, industrial, retail, and an RV park. The property is currently under 1-d-1 Ag appraisal with cattle held on site.
The residence measures 3,000 square feet and contains three bedrooms, 3½ baths, ample storage, and a large concrete patio; cosmetic work is needed. The property has over 340 feet along the south side of State Highway 29, 2.5 miles east of Bertram and 7.5 miles west of Liberty Hill. Its unrestricted designation supports consideration of uses identified in the source, including RV or boat storage, storage units, industrial, retail, and an RV park. The property is currently under 1-d-1 Ag appraisal with cattle held on site.
Key Highlights
- Over 340 feet of frontage along the south side of State Highway 29
- Bar and grill includes 5,301 square feet of main area and 960 square feet of storage
- Separate 3,000‑square‑foot residence with 3 bedrooms and 3½ baths
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
$162,884
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
4.94%
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%
$3,257,680
$3.3M
Cap Rate 7%
$2,326,914
$2.3M
Cap Rate 9%
$1,809,822
$1.8M
Market Conditions
NOI Build-Up for 8,301 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
$224.1K $27.00/SF
− Vacancy
−$6.9K −$0.84/SF
EGI
$217.2K $26.16/SF
− OpEx
−$54.3K −$6.54/SF
NOI
$162.9K $19.62/SF
Area
Burnet County, TX
Vacancy
3.10%
Lease Rate
$27.00 /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%
$3,257,680
Cap Rate 7%
$2,326,914
Cap Rate 9%
$1,809,822
Alternative Uses
Best Use
Specialty Retail
$2.33M
$2.04M – $2.71M
NOI $162,884 @ 7.0% cap · market cap 4.94%
Second Best
Mixed Use
$1.20M
$1.05M – $1.40M
NOI $84,048 @ 7.0% cap · market cap 2.55%
Theoretical Best
Hotel Hospitality
$6.25M
$5.47M – $7.29M
NOI $437,670 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 78605, TX
6,246
Population
2,972
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
81%
High-School Grad
172.0 sq mi
ZIP Area
36
Density / Sq Mi
$81,833
Median Household Income
$37,346
Median Earnings
$1,181
Median Rent
$270,800
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?
Mixed-use property - Unrestricted property combines a leased bar and grill with a residence and substantial highway exposure.
Where is this mixed-use property located?
The property is located at 3317 East State Highway 29 Bertram, TX.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Over 340 feet of frontage along the south side of State Highway 29; Bar and grill includes 5,301 square feet of main area and 960 square feet of storage; Separate 3,000‑square‑foot residence with 3 bedrooms and 3½ baths
