Historic Mixed-Use
New
For Sale
$314,900
400 S Main St, Belton, TX 76513
Two structures support residential, office, and other Main Street uses, with a detached cottage currently generating rental income.
Property Size2,440 SF
Days on Market5
Property Features for 400 S Main St
General Information
Standard status
Active
Size
2,440 SF
Property subtype
Commercial
Zoning
Imagine Belton Main Street Zone
Additional Details
Multifamily Units
2
Building Details
Building Size
2,440 SF
Year Built
1878
Buildings
2
Stories
2
Listing Agency:
Anchor Realty
Listed By:
Danny Bass · License #0684493
(254) 733-4190
Source:
Elliman
Added: Sep 19
Changed: Sep 20
Last Checked: Sep 22 at 5:04PM
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 Anchor Realty
Investment Insights
Based on property information with market context.
Located at 400 S Main St in Belton, this historic mixed-use property dates to 1878 and includes a 1,954-square-foot main house plus a detached 486-square-foot cottage. The cottage has a kitchen, bathroom, private courtyard, and separate water and electric meters, and it currently produces rental income. The main structure has served as both a residence and law office.
The property is one block from the Bell County Courthouse and near Downtown Belton, Nolan Creek, restaurants, shops, and community activity. Its existing residential use is grandfathered within Belton’s Imagine Belton Main Street Zone, which provides permitted-use opportunities including live-work, office, retail, dining, personal services, artisan food and beverage, entertainment, and overnight accommodations. The property records a Walk Score of 4 and Bike Score of 30.
The property is one block from the Bell County Courthouse and near Downtown Belton, Nolan Creek, restaurants, shops, and community activity. Its existing residential use is grandfathered within Belton’s Imagine Belton Main Street Zone, which provides permitted-use opportunities including live-work, office, retail, dining, personal services, artisan food and beverage, entertainment, and overnight accommodations. The property records a Walk Score of 4 and Bike Score of 30.
Key Highlights
- 1878 historic property at 400 S Main St, one block from the Bell County Courthouse
- 1,954‑square‑foot main house with a detached 486‑square‑foot cottage
- Cottage includes kitchen, bathroom, private courtyard, and separate water and electric meters
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
$24,705
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
7.85%
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%
$494,100
$494.1K
Cap Rate 7%
$352,929
$352.9K
Cap Rate 9%
$274,500
$274.5K
Market Conditions
NOI Build-Up for 2,440 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
$43.9K $18.00/SF
− Vacancy
−$4.4K −$1.80/SF
EGI
$39.5K $16.20/SF
− OpEx
−$14.8K −$6.07/SF
NOI
$24.7K $10.13/SF
Area
Bell County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$494,100
Cap Rate 7%
$352,929
Cap Rate 9%
$274,500
Alternative Uses
Best Use
Office B
$583.1K
$510.2K – $680.2K
NOI $40,814 @ 7.0% cap · market cap 12.96%
Second Best
Mixed Use
$352.9K
$308.8K – $411.8K
NOI $24,705 @ 7.0% cap · market cap 7.85%
Theoretical Best
Multifamily LT 5
$27.24M
$23.83M – $31.78M
NOI $1,906,743 @ 7.0% cap · market cap 605.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 76513, TX
43,698
Population
16,004
Households
2.7
Avg Household Size
36
Median Age
33%
College-Educated
89%
High-School Grad
108.3 sq mi
ZIP Area
403
Density / Sq Mi
$82,366
Median Household Income
$38,428
Median Earnings
$1,216
Median Rent
$260,200
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?
Mixed-use property - Two structures support residential, office, and other Main Street uses, with a detached cottage currently generating rental income.
Where is this mixed-use property located?
The property is located at 400 S Main St Belton, TX.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: 1878 historic property at 400 S Main St, one block from the Bell County Courthouse; 1,954‑square‑foot main house with a detached 486‑square‑foot cottage; Cottage includes kitchen, bathroom, private courtyard, and separate water and electric meters
