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    Dance Hall with Intact Bar Title is generated by Realmo AI

    4153 3rd Street, Walnut Springs, TX 76690

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    Claim this Listing
    For Sale
    $250,000

    SINGLE_FAMILY - Walnut Springs, TX

    Type:Retail
    Lot size:
    0.07 Acres
    Added:
    May 28, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 4 at 1:06 pm

    Property Features for 4153 3rd Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Parking features
    On Street
    Standard status
    Active
    APN
    R12507
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Description
    WALNUT SPRINGS OT BLOCK 2 LOT 11 PT(SOUTH 1/2
    Tax Annual Amount
    3031

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    1895
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Brick, Rock, Stone
    Roof type
    Flat

    We can help!

    Listing Contact
    Sam Byrd

    Listing agent Sam Byrd License #717388

    Listing office Keller Williams Brazos West Weatherford, TX

    Listing date May 28, 2026

    MLS# 21112659

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Historic dance hall built in 1895, still featuring the original dance floor and surrounding seating
    • Bar and stage above the bar remain in place for performances and events
    • Flat roof with brick, rock, and stone construction materials
    • Electric heating and electric cooling
    • Public water and public sewer service connected
    • On‑street parking and public utilities including public water and public sewer

    Overview

    An iconic dance hall being offered to allow a new owner to take over and continue the legacy. The building retains key event features, including the dance floor with seating surrounding it, along with a bar that is still intact and a band stage located above the bar. The property is presented for a buyer seeking an entertainment venue configuration, with additional flexibility for other concepts as well.

    Located on the main street in Walnut Springs, Texas, the site offers visibility and a straightforward connection to a neighborhood retail and entertainment context. The listing notes that the seller is also offering two additional properties in Walnut Springs, referenced in this listing under MLS 21112652 and MLS 21112667.

    The most immediate fit is an owner-operator or investor looking to reopen the space for events using the existing layout and improvements already in place. The building’s remaining operational components support live music and social programming, while the property’s alternative-use potential can appeal to buyers considering a transformation into a different kind of entertainment or assembly venue. The sale is being offered AS IS, with the disclosed pricing reflecting an insurance settlement related to a damaged wall, and no repairs are planned at this price point.
    Property Profile Location Intelligence

    Current Use by Public Records

    Theaters & concert halls

    Suggested Use

    Real Estate Agency Restaurant Building Supply Spa & Massage Center Hair Salon Hotel & Motel Nail Salon Auto Parts Store Department Store Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Walnut Springs
    County
    Bosque
    State
    Texas
    Longitude
    -97.749741
    Latitude
    32.058223

    Nearby Similar for Sale

    • $450,000
      3,800 SF

      Legendary Restaurant Opportunity in Walnut Springs

      Successful restaurant with building, inventory, and furnishings for sale.
      4149 & 4147 3rd Street, Walnut Springs, TX 76690
      View Details
    • $250,000
      2,328 SF

      Iconic Dance Hall For Sale

      Iconic dance hall with potential for various business uses.
      4153 3rd Street, Walnut Springs, TX 76690
      View Details

    FAQs

    What type of property is this?
    Theater & concert hall - Iconic dance hall with existing dance floor, seating, bar, and stage, offering a practical option to reopen quickly.
    Where is this theater & concert hall located?
    The property is located at 4153 3rd Street Walnut Springs, TX.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Historic dance hall built in 1895, still featuring the original dance floor and surrounding seating; Bar and stage above the bar remain in place for performances and events; Flat roof with brick, rock, and stone construction materials
    (817) 441-4000
    We can help!
    Listing Contact
    Sam Byrd
    Real Estate License ID: 717388
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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