Mixed-Use Property with Dance
4391 Texas 237, Round Top, TX 78954
For Sale
$1,495,000
Commercial, Round Top, TX
Property Size5,179 SF
Lot Size2.79 Acres
Price / SF$288.67
Days on Market117
Property Features for 4391 Texas 237
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Exterior features
High school district
Directions
Standard status
APN
Size
Lot size
Utilities
Water source
Building Details
Floors in Building
Building materials
Roof type
Listing Agency:
ROUND TOP REAL ESTATE
Listed By:
Lisa Mayer · License TX #0370366
(979) 249-5732
Added: Jul 19
Changed: Oct 30
Last Checked: Nov 12 at 7:06PM
MLS# 150162
Copyright © 2026 South Central Texas Board of Realtors. 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.
Located at 4391 Texas 237 in Round Top, Texas, this mixed-use property includes 5,179 square feet of commercial improvements on 2.79 acres. The site includes the Legal Tender Saloon and Dance Hall, along with a farmhouse recently renovated with three bedrooms and three full bathrooms. The farmhouse also includes three bathrooms and is identified as suitable for vacation rental use.
The property is situated in Warrenton’s Antique Corridor and is associated with the Texas Rose Antique Venue. The event component accommodates over 160 venue spaces and includes additional parking. Exterior improvements feature wood construction with a standard-frame system and a metal roof. A well is identified as the water source.
The property is situated in Warrenton’s Antique Corridor and is associated with the Texas Rose Antique Venue. The event component accommodates over 160 venue spaces and includes additional parking. Exterior improvements feature wood construction with a standard-frame system and a metal roof. A well is identified as the water source.
Key Highlights
- 5,179‑square‑foot mixed‑use property on 2.79 acres
- Includes the Legal Tender Saloon and Dance Hall
- Recently renovated farmhouse with 3 bedrooms and 3 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,881
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,497,620
$1.5M
Cap Rate 7%
$1,069,729
$1.1M
Cap Rate 9%
$832,011
$832.0K
Market Conditions
NOI Build-Up for 5,179 SF
Gross rent
$105.7K $20.40/SF
− Vacancy
−$5.8K −$1.12/SF
EGI
$99.8K $19.28/SF
− OpEx
−$25.0K −$4.82/SF
NOI
$74.9K $14.46/SF
Area
Fayette County, TX
Vacancy
5.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,497,620
Cap Rate 7%
$1,069,729
Cap Rate 9%
$832,011
Alternative Uses
Best Use
Specialty Retail
$1.07M
$936.0K – $1.25M
NOI $74,881 @ 7.0% cap · market cap 5.01%
Second Best
Mixed Use
$976.6K
$854.5K – $1.14M
NOI $68,363 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,405 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
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Business Placement
Demographics for 78954, TX
1,144
Population
897
Households
1.3
Avg Household Size
60
Median Age
40%
College-Educated
98%
High-School Grad
73.6 sq mi
ZIP Area
16
Density / Sq Mi
$100,096
Median Household Income
$54,271
Median Earnings
$1,155
Median Rent
$453,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a renovated farmhouse with saloon and dance hall improvements.
Where is this mixed-use property located?
The property is located at 4391 Texas 237 Round Top, TX.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 5,179‑square‑foot mixed‑use property on 2.79 acres; Includes the Legal Tender Saloon and Dance Hall; Recently renovated farmhouse with 3 bedrooms and 3 full bathrooms
