Mixed-Use Property with Industrial
For Sale
$2,150,000
2684 W Us Hwy 290, Fredericksburg, TX 78624
Commercial Sale, Fredericksburg, TX
Property Size20,000 SF
Lot Size5.74 Acres
Price / SF$107.50
Days on Market85
Property Features for 2684 W Us Hwy 290
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
County Outside ETJ
Parking features
Carport, Covered
Fencing
Fenced
Subdivision
WW
Standard status
Active
APN
GE0 Co 411 1.5 acres GEO #399 4.24 acres
Size
20,000 SF
Lot size
5.74 Acres
Taxes and HOA fees
Tax Description
G E CO #411 1.5 G E CO #399 4.24, -SHOP
Legal Description
G E CO #411 1.5 G E CO #399 4.24, -SHOP
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Well
Building Details
Year built
1997
Flooring type
Hardwood
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
ERA Newlin & Company · ERA Real Estate
(325) 481-0500
Listed By:
Jeff Hameister · License #0594810
(325) 374-1737
Added: Jul 6
Changed: Sep 13
Last Checked: Sep 28 at 2:06PM
MLS# 200345
Copyright © 2026 San Angelo Association 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.
Investment Insights
Based on property information with market context.
This mixed-use property includes three freestanding buildings totaling 20,000 square feet on 5.74 acres. The improvements include private office areas with restrooms and flexible interior configurations suited to commercial, industrial, manufacturing, or distribution operations. Available electrical service includes both 240V 3-phase and 480V power. The buildings feature metal siding, metal roofing, hardwood flooring, central air, and electric heating and cooling. Construction dates to 1997.
Located at 2684 W US Hwy 290, the property is less than 3 miles from Fredericksburg in Gillespie County. The site includes covered carport parking, fencing, a well water source, septic service, and propane utilities. Highway 290 frontage places the property within a regional commercial corridor serving the Fredericksburg area.
Located at 2684 W US Hwy 290, the property is less than 3 miles from Fredericksburg in Gillespie County. The site includes covered carport parking, fencing, a well water source, septic service, and propane utilities. Highway 290 frontage places the property within a regional commercial corridor serving the Fredericksburg area.
Key Highlights
- 5.74‑acre site with three freestanding buildings
- 20,000 square feet of combined building area
- 240V 3‑phase and 480V power available
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
$125,062
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
5.82%
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%
$2,501,240
$2.5M
Cap Rate 7%
$1,786,600
$1.8M
Cap Rate 9%
$1,389,578
$1.4M
Market Conditions
NOI Build-Up for 20,000 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
$160.8K $8.04/SF
− Vacancy
−$13.7K −$0.68/SF
EGI
$147.1K $7.36/SF
− OpEx
−$22.1K −$1.10/SF
NOI
$125.1K $6.25/SF
Area
Gillespie County, TX
Vacancy
8.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
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%
$2,501,240
Cap Rate 7%
$1,786,600
Cap Rate 9%
$1,389,578
Alternative Uses
Best Use
Warehouse
$1.79M
$1.56M – $2.08M
NOI $125,062 @ 7.0% cap · market cap 5.82%
Second Best
Industrial
$1.47M
$1.29M – $1.72M
NOI $102,992 @ 7.0% cap · market cap 4.79%
Theoretical Best
Hotel Hospitality
$15.15M
$13.25M – $17.67M
NOI $1,060,200 @ 7.0% cap · market cap 49.31%
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
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 78624, TX
23,080
Population
12,421
Households
1.9
Avg Household Size
52
Median Age
37%
College-Educated
89%
High-School Grad
742.3 sq mi
ZIP Area
31
Density / Sq Mi
$67,987
Median Household Income
$37,047
Median Earnings
$1,347
Median Rent
$439,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial 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 - Three freestanding buildings provide adaptable commercial and industrial space with offices, restrooms, and fenced grounds.
Where is this mixed-use property located?
The property is located at 2684 W Us Hwy 290 Fredericksburg, TX.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 5.74‑acre site with three freestanding buildings; 20,000 square feet of combined building area; 240V 3‑phase and 480V power available
