8-Bay Flex
For Sale
$774,400
408 S Main Street, Lampasas, TX 76550
CommercialSale, Lampasas, TX
Property Size8,440 SF
Lot Size0.38 Acres
Price / SF$91.75
Days on Market72
Property Features for 408 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R
Parking features
Garage, Oversize
Subdivision
A H Barnes
Lot features
Corner Lot, City Lot, Quarter To Half Acre Lot
Elementary school district
Lampasas ISD
Middle school district
Lampasas ISD
High school district
Lampasas ISD
Directions
From US 183 - Turn on Fourth Street/Hwy 257, property is two blocks down on left.
Standard status
Active
APN
150
Size
8,440 SF
Lot size
0.38 Acres
Additional Details
Property Use
Flex
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT: LTS 1,2 S 36 OF 3 BLK: 37 ADDN: A H BARNES
Tax Annual Amount
6065
Legal Description
LOT: LTS 1,2 S 36 OF 3 BLK: 37 ADDN: A H BARNES
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1976
Floors in Building
1
Flooring type
Concrete
Building materials
MetalFrame
Roof type
Metal
Listing Agency:
Olivos Group
(512) 887-1888
Listed By:
Matthew W. Shaw · License #0494926
(512) 922-1787
Added: Aug 26
Changed: Nov 5
Last Checked: Nov 5 at 9:06PM
MLS# 623690
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.
This 8,440-square-foot flex property at 408 S Main Street has an eight-bay configuration, metal-frame construction, a metal roof, and concrete flooring. Built in 1976, the building is vacant and includes garage and oversized parking. Public water and sewer serve the property, along with natural gas and electric service.
The site is on Main Street in downtown Lampasas, two blocks from the downtown square and across from the Lampasas Police Department. Highways 183, 281, and 190 meet nearby. The property is zoned R.
The site is on Main Street in downtown Lampasas, two blocks from the downtown square and across from the Lampasas Police Department. Highways 183, 281, and 190 meet nearby. The property is zoned R.
Key Highlights
- 8,440‑square‑foot flex property with an eight‑bay layout
- Vacant building on Main Street in downtown Lampasas
- Metal‑frame construction, metal roof, and concrete flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,692
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
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
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 Rate 5%
$1,213,840
Cap Rate 7%
$867,029
Cap Rate 9%
$674,356
Alternative Uses
Best Use
Warehouse
$867.0K
$758.7K – $1.01M
NOI $60,692 @ 7.0% cap · market cap 7.84%
Second Best
Flex RnD
$791.4K
$692.5K – $923.3K
NOI $55,398 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$2.03M
$1.77M – $2.37M
NOI $141,905 @ 7.0% cap · market cap 18.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
731
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Vacant building with public water and sewer, natural gas, electric service, and off-street parking.
Where is this flex space located?
The property is located at 408 S Main Street Lampasas, TX.
What is the asking price?
The asking price for this property is $774,400.
What are key features of this property?
This property features: 8,440‑square‑foot flex property with an eight‑bay layout; Vacant building on Main Street in downtown Lampasas; Metal‑frame construction, metal roof, and concrete flooring
