Bastrop Land with Commercial
For Sale
$2,200,000
1540 N State Highway 95, Bastrop, TX 78602
19.5 acres near Bastrop suitable for various commercial uses.
Property Size4,736 SF
Lot Size19.50 Acres
Price / SF$464.53
Days on Market164
Property Features for 1540 N State Highway 95
General Information
Standard status
Active
Size
4,736 SF
Lot size
19.50 Acres
Property subtype
Farm
Taxes and HOA fees
Annual Taxes
$6,867
Listing Agency:
eXp Realty, LLC
(512) 749-8509
Listed By:
Cheryl Fowlkes · License #574464
(512) 749-8509
Source:
Exprealty
Added: Mar 13
Changed: Aug 23
Last Checked: Aug 23 at 5:23AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This 19.5-acre property presents an opportunity for residential or commercial development. The land includes an existing house, built in the 1940s, featuring original wood floors, two bedrooms, and two bathrooms. The house is currently occupied by the owners and has electric heating and window units but no central air. A second, uninhabitable home is present on the property. The property is being sold as-is. An older horse barn provides shelter. The site has over 300 feet of road frontage and is suitable for commercial uses such as storage or an RV park. The property is located approximately 9.5 miles from Elgin and 7.5 miles from Bastrop, offering convenient access to Lake Bastrop, Post Pines, and Bastrop Town Center. The land is abundant with wildlife and has a wildlife exemption. Nice oaks and mesquite trees are present on the property. A creek runs through the back, with approximately 3 acres located on the other side, accessible by crossing the creek, which typically only flows during heavy rains. The property is not part of the Houston Toad area. Bastrop is known for its pine and oak trees.
Key Highlights
- 19.5 acres suitable for residential or commercial development such as an RV park or storage facility.
- Over 300' of road frontage, enhancing commercial potential.
- Convenient location: short drive to Lake Bastrop, Post Pines, and Bastrop Town Center; approx. 9.5 miles from Elgin and 7.5 miles from Bastrop.
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
$72,599
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
3.30%
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%
$1,451,980
$1.5M
Cap Rate 7%
$1,037,129
$1.0M
Cap Rate 9%
$806,656
$806.7K
Market Conditions
NOI Build-Up for 4,736 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
$139.2K $29.40/SF
− Vacancy
−$7.2K −$1.53/SF
EGI
$132.0K $27.87/SF
− OpEx
−$59.4K −$12.54/SF
NOI
$72.6K $15.33/SF
Area
Bastrop County, TX
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,451,980
Cap Rate 7%
$1,037,129
Cap Rate 9%
$806,656
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$907.5K – $1.21M
NOI $72,599 @ 7.0% cap · market cap 3.30%
Second Best
Self Storage
$698.2K
$610.9K – $814.6K
NOI $48,873 @ 7.0% cap · market cap 2.22%
Theoretical Best
Office A
$1.86M
$1.62M – $2.17M
NOI $129,912 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 78602, TX
33,759
Population
13,485
Households
2.5
Avg Household Size
40
Median Age
27%
College-Educated
87%
High-School Grad
195.3 sq mi
ZIP Area
173
Density / Sq Mi
$86,976
Median Household Income
$41,644
Median Earnings
$1,331
Median Rent
$310,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 19.5 acres near Bastrop suitable for various commercial uses.
Where is this commercial land located?
The property is located at 1540 N State Highway 95 Bastrop, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 19.5 acres suitable for residential or commercial development such as an RV park or storage facility.; Over 300' of road frontage, enhancing commercial potential.; Convenient location: short drive to Lake Bastrop, Post Pines, and Bastrop Town Center; approx. 9.5 miles from Elgin and 7.5 miles from Bastrop.
