Leased Mixed-Use Retail and
24 N Main St Elgin, TX 78621
24 N Main St, Elgin, TX, 78621
$450,000
For Sale
$450,000
Fully leased mixed-use building with retail storefront space and a two-bedroom, one-bath apartment.
Property Size2,314 SF
Price / SF$194.47
Days on Market52
Property Features for 24 N Main St
General Information
- Standard status
- Active
- Size
- 2,314 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1935
Listing Agency
All City Real Estate Ltd. Co
(866) 277-6005
Listed by
JR Soler
Source
Loessinproperties
Added: May 29 Checked: Jul 19 at 5:05 am
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 All City Real Estate Ltd. Co
Investment Insights
Based on property information with market context.
This fully leased mixed-use investment opportunity totals 2,314 SF of improvements, including 1,008 SF of retail storefront space and 1,306 SF of residential apartment area configured as a 2 bed/1 bath unit. The property is described as stabilized with one commercial tenant and one residential tenant currently in place.
The building is located along North Main Street in historic downtown Elgin, within the Central Texas growth corridor east of Austin. Public remarks note walkability to restaurants, retail, and local businesses.
Renovations completed in 2016 included electrical wiring, plumbing systems, and interior improvements. A new roof was installed in October 2021, supporting a low-maintenance, turnkey configuration for an investor or owner-operator seeking supplemental income.
The building is located along North Main Street in historic downtown Elgin, within the Central Texas growth corridor east of Austin. Public remarks note walkability to restaurants, retail, and local businesses.
Renovations completed in 2016 included electrical wiring, plumbing systems, and interior improvements. A new roof was installed in October 2021, supporting a low-maintenance, turnkey configuration for an investor or owner-operator seeking supplemental income.
Key Highlights
- 2,314 SF mixed‑use building in historic downtown Elgin with 1,008 SF retail storefront and 1,306 SF 2 bed/1 bath apartment
- Fully leased dual‑income setup with one commercial tenant and one residential tenant in place
- Extensive renovation completed in 2016, including electrical wiring, plumbing systems, and interior improvements
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.3k | $26.04 |
| − Vacancy | −$2.0k | −$0.89 |
| EGI | $58.2k | $25.15 |
| − OpEx | −$17.5k | −$7.55 |
| NOI | $40.7k | $17.61 |
2,314 SF · lease $26.04/SF/yr · vacancy 3.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$582.1K
$509.3K – $679.1K
NOI $40,745 @ 7.0% cap · market cap 9.05%
Second Best
Mixed Use
$545.4K
$477.3K – $636.4K
NOI $38,181 @ 7.0% cap · market cap 8.48%
Theoretical Best
Office A
$906.8K
$793.4K – $1.06M
NOI $63,475 @ 7.0% cap · market cap 14.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Fully leased mixed-use building with retail storefront space and a two-bedroom, one-bath apartment.
Where is this mixed-use property located?
The property is located at 24 N Main St Elgin, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,314 SF mixed‑use building in historic downtown Elgin with 1,008 SF retail storefront and 1,306 SF 2 bed/1 bath apartment; Fully leased dual‑income setup with one commercial tenant and one residential tenant in place; Extensive renovation completed in 2016, including electrical wiring, plumbing systems, and interior improvements
