Lockhart Live-Work Property with
1516 Old Luling Rd Lockhart, TX 78644
For Sale
Contact for pricing
Unique live-work property near downtown Lockhart with flexible commercial potential.
Property Size3,440 SF
Lot Size3.79 Acres
Price / SF$260.17
Days on Market149
Property Features for 1516 Old Luling Rd
General Information
- Standard status
- Active
- Size
- 3,440 SF
- Lot size
- 3.79 Acres
- Property subtype
- Retail
Listing Agency:
McAllister & Associates
(512) 657-0004
Listed By:
John Doyal · License #TX 0102343
Source:
Crexi
Added: Feb 25
Changed: Jul 10
Last Checked: Jul 23 at 11:20AM
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 McAllister & Associates
Investment Insights
Based on property information with market context.
This unique live-work property is located just 4 minutes from downtown Lockhart. The 3.79-acre property includes a new 1,883-square-foot home featuring 4 bedrooms and 3 bathrooms. The primary bedroom suite includes an oversized jetted bathtub, a separate shower, a walk-in closet, and on-demand hot water. One bedroom has an attached bath suitable for use as a guest bedroom. The entry leads to a formal dining room and a light and airy living room. The kitchen features a propane gas range and is open to both dining areas. There is also a covered front porch and a covered back porch. A detached 6-door garage has three doors on two different sides. The property also includes a 3,440-square-foot shop building with four bays, each with a 20’ roll-up door. A separate 400-square-foot office/retail space with mini-split climate control is attached, along with an additional 400-square-foot storage space on the right side of the shop. The land has no zoning restrictions and is ready for flexible commercial use, hobbies, horses, cows, or other livestock, including a barn. The shop building is suitable for various uses, such as a mechanic’s shop or RV storage. The property offers flexible commercial use and is ready for various business opportunities.
Key Highlights
- Rare live‑work property on 3.79 acres with no zoning restrictions.
- Includes a new 1,883 s.f., 4‑bedroom, 3‑bath home and a 3,440 s.f. shop building with four bays and 20’ roll‑up doors.
- Shop building features a separate 400 s.f. office/retail space with mini‑split climate control and an additional 400 s.f. storage space.
Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $144.5k | $42.00 |
| − Vacancy | −$35.1k | −$10.21 |
| EGI | $109.4k | $31.79 |
| − OpEx | −$27.3k | −$7.95 |
| NOI | $82.0k | $23.85 |
3,440 SF · lease $42.00/SF/yr · vacancy 24.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.17M
$1.03M – $1.37M
NOI $82,029 @ 7.0% cap · market cap 9.17%
Second Best
Retail
$865.3K
$757.2K – $1.01M
NOI $60,572 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,660 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Live-work space
FAQs
What type of property is this?
Mixed-use property - Unique live-work property near downtown Lockhart with flexible commercial potential.
Where is this mixed-use property located?
The property is located at 1516 Old Luling Rd Lockhart, TX.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Rare live‑work property on 3.79 acres with no zoning restrictions.; Includes a **new 1,883 s.f., 4‑bedroom, 3‑bath home** and a **3,440 s.f. shop building** with four bays and 20’ roll‑up doors.; Shop building features a separate 400 s.f. office/retail space with mini‑split climate control and an additional 400 s.f. storage space.
