Fredericksburg Event Center and
146 Pehl Farm Lane, Fredericksburg, TX 78624
COMMERCIAL - Fredericksburg, TX
Property size:
6,100 SFLot size:
35.80 AcresPrice / SF:
$893/SF- Added:
- Apr 3, 2026
- Days on Market:
- 49
- Last Refresh:
- May 21 at 6:06 pm
Property Features for 146 Pehl Farm Lane
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 6,100 SF
- Lot size
- 35.80 Acres
Taxes and HOA fees
- Tax Annual Amount
- 32740
Listing agent Michael W. Starks License #489896 (830) 456-3532
Listing office RE/MAX Town & Country 116 E Austin St, FREDERICKSBURG, TX (830) 990-8708
Listing date Apr 3, 2026
MLS# 104153
Copyright © 2026 Central Hill Country 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.
HighLights
- Turnkey Event Center: Boasts a 6,100 sqft Celebration Hall with catering kitchen, walk‑in cooler, roll‑up doors, and outdoor entertaining areas.
- Extensive Lodging: Features 14 fully furnished bedrooms with private baths, potential for 4 more.
- Unique Rental Options: Includes 'Suites' with kitchenettes and luxury baths, and full‑size 'Cottages' with full kitchens and living rooms.
- Central Courtyard and Pool: The Suites and Cottages surround a stunning pool area, creating a unique gathering space.
- Separate Owner's Residence: Includes a 'Back House' (partially completed) with 3 bedrooms/3 baths.
- Expansive Acreage: The property includes 35.8 acres, with potential for further development.
Overview
The White Horse Lodge and Celebration Hall is located in the Hill Country of Fredericksburg, Texas, minutes from Luckenbach. This property features a newly completed event center with over 6,100 sqft of conditioned space, including a catering kitchen and walk-in cooler. The Celebration Hall has high ceilings, roll-up doors on both sides, and two large covered outdoor entertaining areas. It also includes an outdoor bar area, a fireplace, and his and her bathrooms. An unfinished upstairs space is plumbed for a full bath and could serve as an office or small living quarters. The White Horse Lodge offers 14 bedrooms with private baths, fully furnished and ready for rentals, with the potential for 4 additional bedrooms. The property includes four buildings with two 1-bedroom/1-bath rentals, each featuring a kitchenette, luxury bath with slipper tubs and walk-in showers, polished concrete floors, and high vaulted ceilings. Three separate cottages each have full kitchens, large living rooms with high vaulted ceilings and exposed beams, master bedrooms, and full baths. An office building near the pool, sharing similar construction to the cottages, includes outdoor restrooms for pool guests and could be converted into a fourth cottage or staff living quarters. The Farm House, built in 1995 and updated, offers 3 additional bedrooms and bathrooms, wood floors, an open kitchen living area, and a masonry fireplace. The Back House, a new but incomplete construction, will feature 3 bedrooms with 3 private baths. Interior plumbing and electric are in place. The White Horse Lodge includes 35.8 acres, with about a third currently utilized.
Financial Insights
Value Estimation Calculated for Hotel Hospitality
Conservative
$3.59M
NOI $323,361 @ 9.00% cap · cautious / downside scenario
Moderate
$4.62M
NOI $323,361 @ 7.00% cap · market / base-case scenario
Aggressive
$6.47M
NOI $323,361 @ 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 Hotel Hospitality
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $732.0k | $120.00 |
| − Vacancy | −$51.2k | −$8.40 |
| EGI | $680.8k | $111.60 |
| − OpEx | −$357.4k | −$58.59 |
| NOI | $323.4k | $53.01 |
6,100 SF · lease $120.00/SF/yr · vacancy 7.00% · expense 52.50%
Alternative Use Scenarios
Best Use
Hotel Hospitality
$4.62M
$4.04M – $5.39M
NOI $323,361 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
White Horse Lodge
Hotel & Motel
Location Insight
- Map
- Local Demand
- City
- Fredericksburg
- County
- Gillespie
- State
- Texas
- Longitude
- -98.7506146
- Latitude
- 30.1863075
Nearby Similar for Sale
FAQs
What type of property is this?
Resort - Turnkey event center and lodge near Luckenbach, Texas.
Where is this resort located?
The property is located at 146 Pehl Farm Lane Fredericksburg, TX.
What is the asking price?
The asking price for this property is $5,449,000.
What are key features of this property?
This property features: Turnkey Event Center: Boasts a 6,100 sqft Celebration Hall with catering kitchen, walk‑in cooler, roll‑up doors, and outdoor entertaining areas.; Extensive Lodging: Features 14 fully furnished bedrooms with private baths, potential for 4 more.; Unique Rental Options: Includes 'Suites' with kitchenettes and luxury baths, and full‑size 'Cottages' with full kitchens and living rooms.
