97-Unit Self Storage
New
For Sale
$834,900
1815 N Llano St, Fredericksburg, TX 78624
Established storage property with an on-site well, sewer connection, and existing income from in-place tenants.
Property Size10,560 SF
Lot Size1.45 Acres
Price / SF$79.06
Days on Market3
Property Features for 1815 N Llano St
General Information
Standard status
Active
Size
10,560 SF
Lot size
1.45 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Self-Storage Units
97
Taxes and HOA fees
Annual Taxes
$5,390
Building Details
Year Built
1995
Listing Agency:
CENTURY 21 The Hills Realty
(512) 983-3580
Listed By:
Danielle Staudt
(512) 983-3580
Source:
Kellyjogonzalez
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 10:48AM
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 CENTURY 21 The Hills Realty
Investment Insights
Based on property information with market context.
Built in 1995, this self-storage property contains 97 units and approximately 10,560 square feet of rentable space on about 1.45 acres. The facility has an existing tenant base and income stream, along with an on-site well supporting operations.
The property is located at 1815 N Llano St in Fredericksburg, Texas, approximately 1.5 miles from Main St and along the HWY 16 corridor. It is within the ETJ and has a sewer connection. The surrounding area includes ongoing residential and commercial growth, while the current family-operated structure provides an established operating foundation for a new owner.
The property is located at 1815 N Llano St in Fredericksburg, Texas, approximately 1.5 miles from Main St and along the HWY 16 corridor. It is within the ETJ and has a sewer connection. The surrounding area includes ongoing residential and commercial growth, while the current family-operated structure provides an established operating foundation for a new owner.
Key Highlights
- 97 storage units totaling over 10,560 square feet of rentable space
- Approximately 1.45 acres at 1815 N Llano St, Fredericksburg, TX 78624
- Existing income stream with in‑place tenants
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
$66,033
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
7.91%
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%
$1,320,660
$1.3M
Cap Rate 7%
$943,329
$943.3K
Cap Rate 9%
$733,700
$733.7K
Market Conditions
NOI Build-Up for 10,560 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
$84.9K $8.04/SF
− Vacancy
−$7.2K −$0.68/SF
EGI
$77.7K $7.36/SF
− OpEx
−$11.7K −$1.10/SF
NOI
$66.0K $6.25/SF
Area
Gillespie County, TX
Vacancy
8.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
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%
$1,320,660
Cap Rate 7%
$943,329
Cap Rate 9%
$733,700
Alternative Uses
Best Use
Warehouse
$943.3K
$825.4K – $1.10M
NOI $66,033 @ 7.0% cap · market cap 7.91%
Second Best
Self Storage
$776.9K
$679.8K – $906.3K
NOI $54,380 @ 7.0% cap · market cap 6.51%
Theoretical Best
Hotel Hospitality
$8.00M
$7.00M – $9.33M
NOI $559,786 @ 7.0% cap · market cap 67.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 78624, TX
23,080
Population
12,421
Households
1.9
Avg Household Size
52
Median Age
37%
College-Educated
89%
High-School Grad
742.3 sq mi
ZIP Area
31
Density / Sq Mi
$67,987
Median Household Income
$37,047
Median Earnings
$1,347
Median Rent
$439,600
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?
Self storage facility - Established storage property with an on-site well, sewer connection, and existing income from in-place tenants.
Where is this self storage facility located?
The property is located at 1815 N Llano St Fredericksburg, TX.
What is the asking price?
The asking price for this property is $834,900.
What are key features of this property?
This property features: 97 storage units totaling over 10,560 square feet of rentable space; Approximately 1.45 acres at 1815 N Llano St, Fredericksburg, TX 78624; Existing income stream with in‑place tenants
