Historic Medical Office Building with Street-Level
For Sale
$1,600,000
310 WIMBERLEY SQ, Wimberley, TX 78676
Renovated in 2023 with street-level commercial frontage plus four upstairs treatment rooms for client-focused wellness or office use.
Property Size3,586 SF
Days on Market50
Property Features for 310 WIMBERLEY SQ
General Information
Standard status
Active
Size
3,586 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$9,546
Building Details
Building Size
3,586 SF
Year Built
1935
Listing Agency:
Compass RE Texas, LLC
Listed By:
Karen Rivera · License #625453
(512) 796-0178
Source:
Teamwestre
Added: Jul 29
Changed: Aug 23
Last Checked: Sep 15 at 10:55AM
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 Compass RE Texas, LLC
Investment Insights
Based on property information with market context.
This historic medical office building was originally built in 1935 and extensively renovated in 2023. The approximately 2,386-square-foot main building includes 1,331 square feet of street-level commercial space with prominent storefront exposure, supported by an upstairs area of approximately 1,087 square feet configured into four private treatment rooms or offices plus a full bath. The layout is designed for client-focused operations while keeping a visible storefront below.
At the rear of the main building, a stone patio provides indoor/outdoor functionality and connects to a paved courtyard. A separate 1,200-square-foot detached building adds flexibility as a studio, workshop, fitness space, production area, or additional business operations, with an exterior half bath for added convenience.
The 2023 renovation included new HVAC systems, upgraded mechanical and electrical systems, three new water heaters, city water and sewer connections, ADA accessibility improvements, new flooring, lighting, landscaping, and significant site improvements. Located in the Historic Wimberley District near popular boutiques, galleries, restaurants, and year-round events, with bikeScore 20 and walkScore 44.
At the rear of the main building, a stone patio provides indoor/outdoor functionality and connects to a paved courtyard. A separate 1,200-square-foot detached building adds flexibility as a studio, workshop, fitness space, production area, or additional business operations, with an exterior half bath for added convenience.
The 2023 renovation included new HVAC systems, upgraded mechanical and electrical systems, three new water heaters, city water and sewer connections, ADA accessibility improvements, new flooring, lighting, landscaping, and significant site improvements. Located in the Historic Wimberley District near popular boutiques, galleries, restaurants, and year-round events, with bikeScore 20 and walkScore 44.
Key Highlights
- Built in 1935; extensively renovated in 2023 with new HVAC, upgraded mechanical and electrical, and ADA improvements
- Main building totals about 2,386 SF with 1,331 SF of highly visible street‑level commercial storefront space
- Upstairs totals about 1,087 SF with four private treatment rooms or offices plus a full bath
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
$85,510
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
5.34%
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%
$1,710,200
$1.7M
Cap Rate 7%
$1,221,571
$1.2M
Cap Rate 9%
$950,111
$950.1K
Market Conditions
NOI Build-Up for 3,586 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
$150.6K $42.00/SF
− Vacancy
−$36.6K −$10.21/SF
EGI
$114.0K $31.79/SF
− OpEx
−$28.5K −$7.95/SF
NOI
$85.5K $23.85/SF
Area
Hays County, TX
Vacancy
24.30%
Lease Rate
$42.00 /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%
$1,710,200
Cap Rate 7%
$1,221,571
Cap Rate 9%
$950,111
Alternative Uses
Best Use
Office B
$1.22M
$1.07M – $1.43M
NOI $85,510 @ 7.0% cap · market cap 5.34%
Second Best
Healthcare Medical
$929.5K
$813.3K – $1.08M
NOI $65,064 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,933 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
825
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78676, TX
14,713
Population
7,487
Households
2
Avg Household Size
52
Median Age
50%
College-Educated
93%
High-School Grad
167.8 sq mi
ZIP Area
88
Density / Sq Mi
$86,819
Median Household Income
$44,745
Median Earnings
$1,432
Median Rent
$476,100
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Renovated in 2023 with street-level commercial frontage plus four upstairs treatment rooms for client-focused wellness or office use.
Where is this medical office space located?
The property is located at 310 WIMBERLEY SQ Wimberley, TX.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Built in 1935; extensively renovated in 2023 with new HVAC, upgraded mechanical and electrical, and ADA improvements; Main building totals about 2,386 SF with 1,331 SF of highly visible street‑level commercial storefront space; Upstairs totals about 1,087 SF with four private treatment rooms or offices plus a full bath
