Mixed-Use Property in Lometa,
For Sale
Contact for pricing
215 W Main St, Lometa, TX 76853
Mixed-use property with 1,590 square feet of space.
Property Size1,590 SF
Price / SF$113.21
Days on Market168
Property Features for 215 W Main St
General Information
Standard status
Active
Size
1,590 SF
Class
B
Property subtype
Mixed Use
Zoning
Commercial
Investment Type
Owner/User
Building Details
Year Built
1920
Year Renovated
2025
Buildings
2
Stories
2
Listing Agency:
Texas Real Estate Sales
Listed By:
Abe & Leah Caruthers · License #561403
Source:
Crexi
Added: Mar 16
Changed: Aug 27
Last Checked: Aug 29 at 2:35PM
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 Texas Real Estate Sales
Investment Insights
Based on property information with market context.
This mixed-use property offers 1,590 square feet of space and is available for sale.
Key Highlights
- Mixed use property
- 1,590 sqft of space
- Built in 1920
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
$15,026
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
8.35%
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%
$300,520
$300.5K
Cap Rate 7%
$214,657
$214.7K
Cap Rate 9%
$166,956
$167.0K
Market Conditions
NOI Build-Up for 1,590 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
$26.7K $16.80/SF
− Vacancy
−$2.7K −$1.68/SF
EGI
$24.0K $15.12/SF
− OpEx
−$9.0K −$5.67/SF
NOI
$15.0K $9.45/SF
Area
Lampasas County, TX
Vacancy
10.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
37.50%
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%
$300,520
Cap Rate 7%
$214,657
Cap Rate 9%
$166,956
Alternative Uses
Best Use
Mixed Use
$214.7K
$187.8K – $250.4K
NOI $15,026 @ 7.0% cap · market cap 8.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$381.9K
$334.2K – $445.6K
NOI $26,733 @ 7.0% cap · market cap 14.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Explore this area
Business Placement
Demographics for 76853, TX
1,543
Population
774
Households
2
Avg Household Size
47
Median Age
28%
College-Educated
85%
High-School Grad
282.4 sq mi
ZIP Area
5
Density / Sq Mi
$64,750
Median Household Income
$36,712
Median Earnings
$663
Median Rent
$247,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with 1,590 square feet of space.
Where is this mixed-use property located?
The property is located at 215 W Main St Lometa, TX.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Mixed use property; 1,590 sqft of space; Built in 1920
