Mixed-Use Property with Creek
For Sale
$1,199,000
209 S Main Street, Salado, TX 76571
CommercialSale, Salado, TX
Property Size3,295 SF
Lot Size0.57 Acres
Price / SF$363.88
Days on Market141
Property Features for 209 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
City Lot, Half To One Acre Lot
View
Water
Directions
Use property address in GPS; From I-35 N: Take exit 284 onto S Main St, for 0.4 miles continue onto S Main St, in 0.5 the property is on your right. From I-35 S: Take exit 284, in 0.7 miles turn left onto Thomas Arnold Rd, in 800 ft turn right onto S Main St, in 800ft property is on left.
Standard status
Active
APN
48988
Size
3,295 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
A0398BC H W HURD, (OUTLOT), SALADO HOMES, ACCENTS OF SALADO, ACRES 0.569
Tax Annual Amount
5426
Legal Description
A0398BC H W HURD, (OUTLOT), SALADO HOMES, ACCENTS OF SALADO, ACRES 0.569
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water front
1
Amenities
covered porches
covered deck
gazebo deck
stone walkway
event-friendly concrete patio
dedicated parking
private Salado Creek frontage
Building Details
Year built
1987
Floors in Building
2
Building materials
WoodSiding
Roof type
Metal
Listing Agency:
Serhant Texas, LLC
(346) 310-4739
Listed By:
Arion Crenshaw · License #0725111
(512) 994-6949
Added: Apr 30
Changed: Sep 15
Last Checked: Sep 17 at 12:06AM
MLS# 612101
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property contains 3,295 square feet of office and retail space, along with additional storage and utility areas. The lower level is arranged as multiple suites with separate entrances and an interconnected interior. An upstairs suite includes two bedrooms, a bathroom, kitchen, and living area, while the gazebo suite has one bedroom and a bathroom. Updated HVAC systems, newer siding, a freshly painted exterior, metal roofing, central heating and cooling, and public sewer support the property’s current configuration.
Set on 0.569 acres at 209 S Main Street, the property has approximately 100 feet of private Salado Creek frontage, covered porches, a covered deck, gazebo deck, stone walkway, dedicated parking, and a concrete patio suited to vendor tents or outdoor showcases. The property is designated Historic Salado Site 18 and sits across the creek from Barrow Brewing, near Salado’s walkable downtown and I-35.
Set on 0.569 acres at 209 S Main Street, the property has approximately 100 feet of private Salado Creek frontage, covered porches, a covered deck, gazebo deck, stone walkway, dedicated parking, and a concrete patio suited to vendor tents or outdoor showcases. The property is designated Historic Salado Site 18 and sits across the creek from Barrow Brewing, near Salado’s walkable downtown and I-35.
Key Highlights
- 3,295 square feet of office and retail space plus storage and utility areas
- Approximately 100 feet of private Salado Creek frontage
- 0.569‑acre property at 209 S Main Street in Salado
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
$55,116
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
4.60%
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%
$1,102,320
$1.1M
Cap Rate 7%
$787,371
$787.4K
Cap Rate 9%
$612,400
$612.4K
Market Conditions
NOI Build-Up for 3,295 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
$101.2K $30.72/SF
− Vacancy
−$27.7K −$8.42/SF
EGI
$73.5K $22.30/SF
− OpEx
−$18.4K −$5.58/SF
NOI
$55.1K $16.73/SF
Area
Bell County, TX
Vacancy
27.40%
Lease Rate
$30.72 /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%
$1,102,320
Cap Rate 7%
$787,371
Cap Rate 9%
$612,400
Alternative Uses
Best Use
Office B
$787.4K
$689.0K – $918.6K
NOI $55,116 @ 7.0% cap · market cap 4.60%
Second Best
Retail
$637.6K
$557.9K – $743.9K
NOI $44,632 @ 7.0% cap · market cap 3.72%
Theoretical Best
Multifamily LT 5
$36.78M
$32.19M – $42.91M
NOI $2,574,884 @ 7.0% cap · market cap 214.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
Explore this area
Business Placement
Demographics for 76571, TX
8,937
Population
3,742
Households
2.4
Avg Household Size
45
Median Age
41%
College-Educated
94%
High-School Grad
125.0 sq mi
ZIP Area
71
Density / Sq Mi
$103,341
Median Household Income
$55,545
Median Earnings
$1,172
Median Rent
$395,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Leased suites support boutique, salon, office, and massage uses, with individual entrances and built-in rent escalations.
Where is this mixed-use property located?
The property is located at 209 S Main Street Salado, TX.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 3,295 square feet of office and retail space plus storage and utility areas; Approximately 100 feet of private Salado Creek frontage; 0.569‑acre property at 209 S Main Street in Salado
