Mixed-Use Property with Rental
23717 W Hwy 290, Harper, TX 78631
For Sale
$697,000
Commercial Sale, Harper, TX
Property Size5,404 SF
Lot Size1.44 Acres
Price / SF$128.98
Days on Market122
Property Features for 23717 W Hwy 290
General Information
Property type
Property subtype
Accessibility
Lot features
Elementary school
Subdivision
Standard status
Size
Lot size
Additional Details
Tenant in Place
Mixed-Use Components
Utilities
Utilities
Heating system
Cooling system
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
R-Bar Realty
Listed By:
Jessica Robinson
(254) 326-8676
Added: Jul 12
Changed: Oct 30
Last Checked: Nov 10 at 4:06PM
MLS# 124190
Copyright © 2026 Kerrville Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This mixed-use offering combines a 1900 farmhouse configured as two rental units with a separate multi-building commercial property. The residential improvement contains three bedrooms, two baths, kitchenettes, multiple decks, wood flooring, wood siding, electric heating and cooling, and an accessible ramped approach. The commercial component has four tenants in place and includes outdoor space and parking. Combined property size is 5,404 square feet on 1.4364 acres, with a metal roof and cable availability.
The property fronts Hwy 290 in Harper, Texas, providing highway exposure and access within Gillespie County. Mature trees and open exterior areas contribute to the site’s physical setting, while the mix of residential units and occupied commercial buildings supports multiple established uses. The farmhouse dates to 1900, adding a historic element to the overall property configuration.
The property fronts Hwy 290 in Harper, Texas, providing highway exposure and access within Gillespie County. Mature trees and open exterior areas contribute to the site’s physical setting, while the mix of residential units and occupied commercial buildings supports multiple established uses. The farmhouse dates to 1900, adding a historic element to the overall property configuration.
Key Highlights
- 1.4364‑acre mixed‑use property in Harper, Texas
- Combined property size of 5,404 square feet
- Farmhouse configured as two rental units with 3 bedrooms and 2 baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,425
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,500
$828.5K
Cap Rate 7%
$591,786
$591.8K
Cap Rate 9%
$460,278
$460.3K
Market Conditions
NOI Build-Up for 5,404 SF
Gross rent
$66.8K $12.36/SF
− Vacancy
−$7.6K −$1.41/SF
EGI
$59.2K $10.95/SF
− OpEx
−$17.8K −$3.29/SF
NOI
$41.4K $7.67/SF
Area
Gillespie County, TX
Vacancy
11.40%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,500
Cap Rate 7%
$591,786
Cap Rate 9%
$460,278
Alternative Uses
Best Use
Multifamily LT 5
$591.8K
$517.8K – $690.4K
NOI $41,425 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$542.5K
$474.7K – $633.0K
NOI $37,978 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,612 @ 7.0% cap · market cap 15.30%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Explore this area
Business Placement
Demographics for 78631, TX
2,698
Population
1,462
Households
1.8
Avg Household Size
52
Median Age
20%
College-Educated
88%
High-School Grad
299.8 sq mi
ZIP Area
9
Density / Sq Mi
$73,646
Median Household Income
$40,699
Median Earnings
$1,188
Median Rent
$339,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Combined residential and commercial improvements provide an established live/work configuration along Hwy 290.
Where is this mixed-use property located?
The property is located at 23717 W Hwy 290 Harper, TX.
What is the asking price?
The asking price for this property is $697,000.
What are key features of this property?
This property features: 1.4364‑acre mixed‑use property in Harper, Texas; Combined property size of 5,404 square feet; Farmhouse configured as two rental units with 3 bedrooms and 2 baths
