Downtown Lampasas Flex Space
For Sale
$749,400
408 S Main St, Lampasas, TX 76550
8,440 SF flex space in downtown Lampasas.
Property Size8,440 SF
Lot Size0.38 Acres
Price / SF$88.79
Days on Market197
Property Features for 408 S Main St
General Information
Standard status
Active
Size
8,440 SF
Lot size
0.38 Acres
Listing Agency:
Olivos Group
(512) 922-1787
Listed By:
Matthew W. Shaw · License #0494926
(512) 922-1787
Source:
Exprealty
Added: Jan 26
Changed: Aug 8
Last Checked: Aug 8 at 1:12PM
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 Olivos Group
Investment Insights
Based on property information with market context.
This 8,440 square foot flex space is located in downtown Lampasas on Main Street, directly across from the Lampasas Police Department. The building, featuring eight bays, has been updated and can be customized to suit tenant requirements. It is suitable for various businesses, including automotive, roofing, HVAC, plumbing, or retail purposes such as a skating rink. Situated two blocks from the historic downtown square, the property is near the intersections of Highway 183, 281, and 190.
Key Highlights
- 8,440 sq ft flex space with 8 bays offers significant business potential.
- Prime downtown Lampasas location on Main St, near the Lampasas Police Department.
- Versatile space suitable for automotive, roofing, HVAC, plumbing, retail, and more.
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
$60,692
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
8.10%
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%
$1,213,840
$1.2M
Cap Rate 7%
$867,029
$867.0K
Cap Rate 9%
$674,356
$674.4K
Market Conditions
NOI Build-Up for 8,440 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
$76.0K $9.00/SF
− Vacancy
−$4.6K −$0.54/SF
EGI
$71.4K $8.46/SF
− OpEx
−$10.7K −$1.27/SF
NOI
$60.7K $7.19/SF
Area
Lampasas County, TX
Vacancy
6.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,213,840
Cap Rate 7%
$867,029
Cap Rate 9%
$674,356
Alternative Uses
Best Use
Retail
$1.43M
$1.25M – $1.67M
NOI $100,389 @ 7.0% cap · market cap 13.40%
Second Best
Warehouse
$867.0K
$758.7K – $1.01M
NOI $60,692 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$2.03M
$1.77M – $2.37M
NOI $141,905 @ 7.0% cap · market cap 18.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76550, TX
12,840
Population
6,129
Households
2.1
Avg Household Size
44
Median Age
22%
College-Educated
90%
High-School Grad
541.5 sq mi
ZIP Area
24
Density / Sq Mi
$73,697
Median Household Income
$34,970
Median Earnings
$902
Median Rent
$237,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 8,440 SF flex space in downtown Lampasas.
Where is this flex space located?
The property is located at 408 S Main St Lampasas, TX.
What is the asking price?
The asking price for this property is $749,400.
What are key features of this property?
This property features: 8,440 sq ft flex space with 8 bays offers significant business potential.; Prime downtown Lampasas location on Main St, near the Lampasas Police Department.; Versatile space suitable for automotive, roofing, HVAC, plumbing, retail, and more.
