Historic Office-Retail Building with
For Sale
$675,000
402 S Adams St, Fredericksburg, TX 78624
Circa 1882 historic building with a wrap-around porch, overlooking Barons Creek, offered for sale under C-1 zoning.
Property Size1,380 SF
Lot Size0.94 Acres
Price / SF$489.13
Days on Market97
Property Features for 402 S Adams St
General Information
Standard status
Active
Size
1,380 SF
Lot size
0.94 Acres
Zoning
C-1
Building Details
Year Built
1882
Listing Agency:
Real Estate Advisory Team, LLC
Listed By:
Neal Reeh · License #9011766
(830) 456-6679
Source:
Theswinneygroup
Added: Jul 27
Changed: Oct 25
Last Checked: Oct 7 at 4:40PM
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 Real Estate Advisory Team, LLC
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Investment Insights
Based on property information with market context.
Circa 1882, this historically significant block structure is believed to have been originally residential and is now being offered with redevelopment potential under current C-1 zoning. The building includes a distinctive wrap-around porch and is sited on approximately 0.944 acres (per a recent seller survey). Restoration will be required.
The property is positioned prominently on one of Fredericksburg’s major thoroughfares, about four blocks from the shops and restaurants of historic Main Street. A reciprocating driveway agreement with the southern neighbor provides shared access.
Set on the upper bank, the structure overlooks and terraces down toward Barons Creek, creating a scenic setting that may support future office, retail, or hospitality use (subject to applicable approvals).
The property is positioned prominently on one of Fredericksburg’s major thoroughfares, about four blocks from the shops and restaurants of historic Main Street. A reciprocating driveway agreement with the southern neighbor provides shared access.
Set on the upper bank, the structure overlooks and terraces down toward Barons Creek, creating a scenic setting that may support future office, retail, or hospitality use (subject to applicable approvals).
Key Highlights
- Circa 1882 historic Basse block building with a distinctive wrap‑around porch (per GCAD)
- Approximately 0.944 acres (per recent seller survey) with overlook/terracing down toward Barons Creek
- C‑1 zoning offering commercial potential for office, retail, or hospitality use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,485
Cap Rate
3.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$409,700
$409.7K
Cap Rate 7%
$292,643
$292.6K
Cap Rate 9%
$227,611
$227.6K
Market Conditions
NOI Build-Up for 1,380 SF
Gross rent
$31.1K $22.56/SF
− Vacancy
−$1.9K −$1.35/SF
EGI
$29.3K $21.21/SF
− OpEx
−$8.8K −$6.36/SF
NOI
$20.5K $14.84/SF
Area
Gillespie County, TX
Vacancy
6.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$409,700
Cap Rate 7%
$292,643
Cap Rate 9%
$227,611
Alternative Uses
Best Use
Retail
$292.6K
$256.1K – $341.4K
NOI $20,485 @ 7.0% cap · market cap 3.03%
Second Best
Office B
$263.5K
$230.6K – $307.4K
NOI $18,444 @ 7.0% cap · market cap 2.73%
Theoretical Best
Hotel Hospitality
$1.05M
$914.4K – $1.22M
NOI $73,154 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,362
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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Circa 1882 historic building with a wrap-around porch, overlooking Barons Creek, offered for sale under C-1 zoning.
Where is this office building located?
The property is located at 402 S Adams St Fredericksburg, TX.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Circa 1882 historic Basse block building with a distinctive wrap‑around porch (per GCAD); Approximately 0.944 acres (per recent seller survey) with overlook/terracing down toward Barons Creek; C‑1 zoning offering commercial potential for office, retail, or hospitality use
