Historic Mixed-Use
New
For Sale
$2,995,000
320 W Main St, Fredericksburg, TX 78624
Commercial Sale, Fredericksburg, TX
Property Size3,798 SF
Lot Size0.48 Acres
Price / SF$788.57
Days on Market4
Property Features for 320 W Main St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBD
Elementary school district
Fredericksburg
Middle school district
Fredericksburg
High school district
Fredericksburg
Standard status
Active
Lot size
0.48 Acres
Additional Details
Currently Operating
Yes
Mixed-Use Components
hospitality, commercial
Taxes and HOA fees
Tax Annual Amount
28825
Amenities
rear yard
courtyard areas
rear parking
second-story covered gallery porch
mature trees
historic cellar
Building Details
Buildings
1
Listing Agency:
Fredericksburg Realty
(830) 997-6531
Listed By:
Justin Cop · License #TREC#613372-B
(830) 998-2895
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 31 at 7:06AM
MLS# 105706
Copyright © 2026 Central Hill Country 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.
The Itz Inn is a mixed-use property in a limestone building dating to circa 1895, with 3,798 square feet on 0.48 acres. Its current hospitality setup includes four guest suites, each with a private ensuite bath, four grandfathered lodging permits, and additional commercial space. Interior details include exposed stone, high ceilings, wood floors, and original architectural features. A second-story covered gallery porch faces Main Street, while the grounds include a rear yard, courtyard areas, mature trees, rear parking, and a historic cellar.
At 320 W Main St in Fredericksburg, the property is within walking distance of restaurants, wineries, shops, galleries, and attractions. CBD zoning is specified. The combination of guest accommodations, lodging permits, and separate commercial space forms the property’s existing mixed-use configuration.
At 320 W Main St in Fredericksburg, the property is within walking distance of restaurants, wineries, shops, galleries, and attractions. CBD zoning is specified. The combination of guest accommodations, lodging permits, and separate commercial space forms the property’s existing mixed-use configuration.
Key Highlights
- 3,798 SF building on 0.48 acres
- Four guest suites, each with a private ensuite bath
- Four grandfathered lodging permits
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$201,332
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,026,640
$4.0M
Cap Rate 7%
$2,876,171
$2.9M
Cap Rate 9%
$2,237,022
$2.2M
Market Conditions
NOI Build-Up for 3,798 SF
Gross rent
$455.8K $120.00/SF
− Vacancy
−$31.9K −$8.40/SF
EGI
$423.9K $111.60/SF
− OpEx
−$222.5K −$58.59/SF
NOI
$201.3K $53.01/SF
Area
Gillespie County, TX
Vacancy
7.00%
Lease Rate
$120.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,026,640
Cap Rate 7%
$2,876,171
Cap Rate 9%
$2,237,022
Alternative Uses
Best Use
Hotel Hospitality
$2.88M
$2.52M – $3.36M
NOI $201,332 @ 7.0% cap · market cap 6.72%
Second Best
Mixed Use
$249.5K
$218.3K – $291.1K
NOI $17,463 @ 7.0% cap · market cap 0.58%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,185
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four guest suites with private baths sit alongside separate commercial space and established lodging permits.
Where is this mixed-use property located?
The property is located at 320 W Main St Fredericksburg, TX.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: 3,798 SF building on 0.48 acres; Four guest suites, each with a private ensuite bath; Four grandfathered lodging permits
