Historic Mixed-Use
For Sale
$800,000
321 S Lbj Drive, San Marcos, TX 78666
CommercialSale, San Marcos, TX
Property Size2,962 SF
Lot Size0.31 Acres
Price / SF$270.09
Days on Market511
Property Features for 321 S Lbj Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Interior features
PullDownAtticStairs
Subdivision
D P Hopkins II
Lot features
City Lot, Quarter To Half Acre Lot
Elementary school district
San Marcos Cisd
Middle school district
San Marcos Cisd
High school district
San Marcos Cisd
Directions
From IH 35 south access road turn right on LBJ go .5 miles property on right
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
Legal Description
D P HOPKINS II LOT 11A BLK 1 0.3051 AC
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Floors in Building
2
Flooring type
Linoleum, Hardwood, Unfinished
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: Oct 17
Last Checked: Oct 20 at 12:06AM
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.
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Investment Insights
Based on property information with market context.
Built in 1878, this clapboard and lap-siding building contains 2,962 square feet on a 0.3051-acre parcel. The structure was relocated from Guadalupe Street and brought to commercial code in 1988 at its current location. Interior features include pull-down attic stairs, while finishes include hardwood, unfinished, and linoleum flooring. Central electric heating and cooling serve the building, with public water service and a composition shingle roof.
The property is one block from the County Courthouse square and four blocks from the TX State campus. It is zoned Downtown Character District 5, which provides for a broad mix of potential commercial uses, including retail and office, along with residential and short-term rental applications.
The property is one block from the County Courthouse square and four blocks from the TX State campus. It is zoned Downtown Character District 5, which provides for a broad mix of potential commercial uses, including retail and office, along with residential and short-term rental applications.
Key Highlights
- Built in 1878 and relocated from Guadalupe Street
- 2,962‑square‑foot building on a 0.3051‑acre parcel
- Zoned Downtown Character District 5
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,156
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,043,120
$1.0M
Cap Rate 7%
$745,086
$745.1K
Cap Rate 9%
$579,511
$579.5K
Market Conditions
NOI Build-Up for 2,962 SF
Gross rent
$77.1K $26.04/SF
− Vacancy
−$2.6K −$0.89/SF
EGI
$74.5K $25.15/SF
− OpEx
−$22.4K −$7.55/SF
NOI
$52.2K $17.61/SF
Area
Hays County, TX
Vacancy
3.40%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,043,120
Cap Rate 7%
$745,086
Cap Rate 9%
$579,511
Alternative Uses
Best Use
Retail
$745.1K
$652.0K – $869.3K
NOI $52,156 @ 7.0% cap · market cap 6.52%
Second Best
Mixed Use
$571.2K
$499.8K – $666.5K
NOI $39,987 @ 7.0% cap · market cap 5.00%
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,642
Businesses Nearby
214k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 24%
Groceries 23%
Home Improvements & Furnishings 2%
H-E-B
Groceries
49,167 visits/mo
0.4 miles
Taco Bell
Dining
22,630 visits/mo
0.5 miles
Exxon
Shops & Services
13,361 visits/mo
0.5 miles
Casa Maria
Dining
11,838 visits/mo
0.4 miles
SONIC Drive In
Dining
11,105 visits/mo
0.5 miles
Demographics for 78666, TX
86,584
Population
36,354
Households
2.4
Avg Household Size
27
Median Age
35%
College-Educated
89%
High-School Grad
192.4 sq mi
ZIP Area
450
Density / Sq Mi
$55,478
Median Household Income
$25,890
Median Earnings
$1,294
Median Rent
$271,900
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown Character District 5 zoning supports a range of commercial, office, residential, and short-term rental uses.
Where is this mixed-use property 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: Built in 1878 and relocated from Guadalupe Street; 2,962‑square‑foot building on a 0.3051‑acre parcel; Zoned Downtown Character District 5
