Historic Retail
321 S Lbj Drive San Marcos, TX 78666
For Sale
$800,000
COMMERCIAL - San Marcos, TX
Property Size2,962 SF
Lot Size0.31 Acres
Price / SF$270.09
Days on Market422
Property Features for 321 S Lbj Drive
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Interior features
- PullDownAtticStairs
- Standard status
- Active
- APN
- R32215
- Size
- 2,962 SF
- Lot size
- 0.31 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- D P HOPKINS II LOT 11A BLK 1 0.3051 AC
- Tax Annual Amount
- 6228
Utilities
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Floors in Building
- 2
- Flooring type
- Unfinished, Hardwood, Linoleum
- Building materials
- Clapboard, LapSiding
- Roof type
- Shingle, Composition
Listing Agency:
The Damron Group REALTORS
(512) 392-7653
Listed By:
Linda Jalufka · License #0637535
(512) 757-4850
Added: May 28, 2025
Changed: Jul 10
Last Checked: Jul 23 at 5:06PM
MLS# 578400
Copyright © 2026 Central Texas Multiple Listing Service. 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 historic retail building was originally built in 1878 and later moved to its current site, with the structure brought to commercial code in 1988. The property offers a distinctive, long-standing building presence intended for commercial use in a downtown setting.
The building is located approximately one block from the County Courthouse square and about four blocks from the TX State campus. The property is zoned Downtown Character District 5, which calls for a range of potential commercial mix uses, including retail, office, residential, short term rental, and more. Moving the building again may open additional possibilities for this location, subject to applicable requirements.
The lot size is approximately 0.3051 acres, and the building size is listed at 2,962 square feet.
The building is located approximately one block from the County Courthouse square and about four blocks from the TX State campus. The property is zoned Downtown Character District 5, which calls for a range of potential commercial mix uses, including retail, office, residential, short term rental, and more. Moving the building again may open additional possibilities for this location, subject to applicable requirements.
The lot size is approximately 0.3051 acres, and the building size is listed at 2,962 square feet.
Key Highlights
- Historic building originally built in 1878, later moved to its current location and brought to commercial code in 1988
- Construction includes clapboard and lap siding, with shingle/composition roofing
- Zoned Downtown Character District 5 with potential commercial mix uses including retail, office, residential, and short‑term rental
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 | $77.1k | $26.04 |
| − Vacancy | −$2.6k | −$0.89 |
| EGI | $74.5k | $25.15 |
| − OpEx | −$22.4k | −$7.55 |
| NOI | $52.2k | $17.61 |
2,962 SF · lease $26.04/SF/yr · vacancy 3.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$745.1K
$652.0K – $869.3K
NOI $52,156 @ 7.0% cap · market cap 6.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,673 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Advanced Orthodontic Arts
Dental Office
Dr. Kermit N. ...
Dental Office
Self Storage
Storage Facility
FAQs
What type of property is this?
Retail space - Historic building built in 1878 and brought to commercial code in 1988, located near the courthouse square.
Where is this retail space located?
The property is located at 321 S Lbj Drive San Marcos, TX.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Historic building originally built in 1878, later moved to its current location and brought to commercial code in 1988; Construction includes clapboard and lap siding, with shingle/composition roofing; Zoned Downtown Character District 5 with potential commercial mix uses including retail, office, residential, and short‑term rental
