Remodeled Office Building with
For Sale
$1,000,000
320 Southland Dr, Burnet, TX 78611
Burnet commercial property with office, warehouse, and storage.
Property Size6,431 SF
Lot Size1.27 Acres
Price / SF$250
Days on Market154
Property Features for 320 Southland Dr
General Information
Standard status
Active
Size
6,431 SF
Lot size
1.27 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$15,008
Building Details
Building Size
6,431 SF
Year Built
1998
Listing Agency:
Landmasters Real Estate
(512) 940-6918
Listed By:
Natalie Virdell · License #0676262
(512) 940-6918
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:41AM
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 Landmasters Real Estate
Investment Insights
Based on property information with market context.
This commercial property is located in Burnet, Texas. It features a remodeled office building with over 4000 square feet of space, including 16 rooms, a kitchen, and 5 bathrooms. Updates to the office building include a new roof, 2 new HVAC units, automatic gate, and new vinyl plank flooring throughout. The floor plan is suitable for multiple rental units. Additionally, there is a recently added 2400 square foot insulated and heated/cooled warehouse that is plumbed for water and could be rented separately. The property includes a large area for storing trucks and equipment, secured by a new automatic gate. A large parking area is also available.
Key Highlights
- Remodeled 4000 sq ft office building featuring 16 rooms, a kitchen, and 5 bathrooms, ideal for multiple rental units.
- Recently added 2400 sq ft insulated and climate‑controlled warehouse plumbed for water, suitable as a separate rental unit.
- New roof and 2 new HVAC units ensure low maintenance and efficient climate control.
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
$84,067
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
8.41%
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%
$1,681,340
$1.7M
Cap Rate 7%
$1,200,957
$1.2M
Cap Rate 9%
$934,078
$934.1K
Market Conditions
NOI Build-Up for 4,000 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
$134.4K $33.60/SF
− Vacancy
−$22.3K −$5.58/SF
EGI
$112.1K $28.02/SF
− OpEx
−$28.0K −$7.01/SF
NOI
$84.1K $21.02/SF
Area
Burnet County, TX
Vacancy
16.60%
Lease Rate
$33.60 /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%
$1,681,340
Cap Rate 7%
$1,200,957
Cap Rate 9%
$934,078
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $84,067 @ 7.0% cap · market cap 8.41%
Second Best
Warehouse
$643.2K
$562.8K – $750.5K
NOI $45,027 @ 7.0% cap · market cap 4.50%
Theoretical Best
Hotel Hospitality
$3.01M
$2.64M – $3.52M
NOI $210,900 @ 7.0% cap · market cap 21.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Explore this area
Business Placement
Demographics for 78611, TX
14,839
Population
7,417
Households
2
Avg Household Size
47
Median Age
28%
College-Educated
91%
High-School Grad
274.1 sq mi
ZIP Area
54
Density / Sq Mi
$78,243
Median Household Income
$40,062
Median Earnings
$1,111
Median Rent
$291,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Burnet commercial property with office, warehouse, and storage.
Where is this mixed-use property located?
The property is located at 320 Southland Dr Burnet, TX.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Remodeled 4000 sq ft office building featuring 16 rooms, a kitchen, and 5 bathrooms, ideal for multiple rental units.; Recently added 2400 sq ft insulated and climate‑controlled warehouse plumbed for water, suitable as a separate rental unit.; New roof and 2 new HVAC units ensure low maintenance and efficient climate control.
