Three-Building Retail
For Sale
Contact for pricing
Pending
221 N Main St, Salado, TX 76571
Two occupied retail buildings accompany a move-in-ready office building with additional land and public sewer service.
Property Size3,758 SF
Lot Size2.09 Acres
Days on Market54
Property Features for 221 N Main St
General Information
Standard status
Pending
Size
3,758 SF
Lot size
2.09 Acres
Property subtype
RETAIL
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Building Details
Buildings
3
Tenancy
Multi
Listing Agency:
Wedgewood Properties
(254) 778-0196
Listed By:
Parker Helmig · License #705386
(254) 778-0196
Source:
Moodyscre
Added: Jul 9
Changed: Aug 31
Last Checked: Aug 30 at 9:17PM
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 Wedgewood Properties
Investment Insights
Based on property information with market context.
This commercial property comprises three buildings totaling 3,758 square feet on 2.09 acres. Two retail buildings, together measuring 2,510 square feet, are leased, while a separate 1,248-square-foot office building is vacant and ready for occupancy. The property also includes additional land beyond the existing improvements.
Positioned on historic Main Street in Salado, the site offers access to I-35 and the Temple-Belton and Austin-to-Waco corridor. Public sewer service is available to the property, supporting its existing commercial configuration and potential future development. The combination of occupied retail space, available office space, and excess land provides multiple ways to use the site while maintaining an established commercial presence.
Positioned on historic Main Street in Salado, the site offers access to I-35 and the Temple-Belton and Austin-to-Waco corridor. Public sewer service is available to the property, supporting its existing commercial configuration and potential future development. The combination of occupied retail space, available office space, and excess land provides multiple ways to use the site while maintaining an established commercial presence.
Key Highlights
- Three commercial buildings totaling 3,758 SF on 2.09 acres
- Two leased retail buildings totaling 2,510 SF
- Vacant 1,248 SF office building ready for occupancy
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
$62,860
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
8.11%
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%
$1,257,200
$1.3M
Cap Rate 7%
$898,000
$898.0K
Cap Rate 9%
$698,444
$698.4K
Market Conditions
NOI Build-Up for 3,758 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
$115.4K $30.72/SF
− Vacancy
−$31.6K −$8.42/SF
EGI
$83.8K $22.30/SF
− OpEx
−$21.0K −$5.58/SF
NOI
$62.9K $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%
$1,257,200
Cap Rate 7%
$898,000
Cap Rate 9%
$698,444
Alternative Uses
Best Use
Office B
$898.0K
$785.8K – $1.05M
NOI $62,860 @ 7.0% cap · market cap 8.11%
Second Best
Retail
$727.2K
$636.3K – $848.4K
NOI $50,903 @ 7.0% cap · market cap 6.57%
Theoretical Best
Multifamily LT 5
$41.95M
$36.71M – $48.94M
NOI $2,936,697 @ 7.0% cap · market cap 378.93%
Zoning and permitted uses should be independently verified with authorities.
Property 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
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Simplee Cone — 1217 S Ridge Rd, Salado, TX 76571
Frequently Asked Questions
What type of property is this?
Storefront property - Two occupied retail buildings accompany a move-in-ready office building with additional land and public sewer service.
Where is this storefront property located?
The property is located at 221 N Main St Salado, TX.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Three commercial buildings totaling 3,758 SF on 2.09 acres; Two leased retail buildings totaling 2,510 SF; Vacant 1,248 SF office building ready for occupancy
