Live-Work Commercial
For Sale
$275,000
503 S 4th St, Lometa, TX 76853
COMMERCIAL - Lometa, TX
Property Size1,800 SF
Lot Size0.38 Acres
Price / SF$152.78
Days on Market811
Property Features for 503 S 4th St
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Electric Water Heater
Directions
In Lampasas go west on Hwy 190/183 for approximately 15 miles. Property is on the right. See sign.
Standard status
Active
APN
007267
Lot size
0.38 Acres
Taxes and HOA fees
Tax Description
LOT: FR LOT 2 BLK: 49 ADDN: LOMETA
Legal Description
LOT: FR LOT 2 BLK: 49 ADDN: LOMETA
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Flooring type
Vinyl, Tile
Building materials
Block
Roof type
Composition, Metal
Listing Agency:
The Kuker Company
(512) 556-4600
Listed By:
Janet Myrick · License #0589146
(512) 734-0057
Added: Jun 4, 2024
Changed: Aug 4
Last Checked: Aug 23 at 9:06PM
MLS# 169049
Copyright © 2026 Highland Lakes Association of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This live-work commercial property includes an 1,800 SF main building and a separate 1,100 SF manufactured home, plus additional storage and parking. The main building was previously used as a nail salon and features a spacious salon room, a customer bathroom, a laundry area, ample storage, and a second bathroom with a shower. The manufactured home offers 2 bedrooms and 2 bathrooms with an open living and kitchen area.
The property also includes an 8 X 40 storage Connex with electricity, along with a 2-car carport and RV parking on concrete slabs. The listing notes easy highway access, supporting convenient arrival for daily use and client traffic.
For tenants, buyers, or owner-operators seeking a combined work and living arrangement, the existing commercial layout in the main building can support business use while the manufactured home provides on-site living. The storage Connex and dedicated parking areas add practical value for vehicle and inventory staging, making the site suitable for a range of small operators who want everything on one property.
The property also includes an 8 X 40 storage Connex with electricity, along with a 2-car carport and RV parking on concrete slabs. The listing notes easy highway access, supporting convenient arrival for daily use and client traffic.
For tenants, buyers, or owner-operators seeking a combined work and living arrangement, the existing commercial layout in the main building can support business use while the manufactured home provides on-site living. The storage Connex and dedicated parking areas add practical value for vehicle and inventory staging, making the site suitable for a range of small operators who want everything on one property.
Key Highlights
- 1800 SF main commercial building previously used as a nail salon, including a spacious salon room and two bathrooms
- Includes an additional 1100 SF manufactured home with 2 bedrooms, 2 baths, and an open living/kitchen area
- Electric + central HVAC with central air; electric water heater
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
$23,795
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
8.65%
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%
$475,900
$475.9K
Cap Rate 7%
$339,929
$339.9K
Cap Rate 9%
$264,389
$264.4K
Market Conditions
NOI Build-Up for 1,800 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
$38.9K $21.60/SF
− Vacancy
−$7.2K −$3.97/SF
EGI
$31.7K $17.63/SF
− OpEx
−$7.9K −$4.41/SF
NOI
$23.8K $13.22/SF
Area
Lampasas County, TX
Vacancy
18.40%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$475,900
Cap Rate 7%
$339,929
Cap Rate 9%
$264,389
Alternative Uses
Best Use
Office B
$339.9K
$297.4K – $396.6K
NOI $23,795 @ 7.0% cap · market cap 8.65%
Second Best
Retail
$305.9K
$267.6K – $356.8K
NOI $21,410 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$432.3K
$378.3K – $504.4K
NOI $30,264 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Explore this area
Business Placement
Demographics for 76853, TX
1,543
Population
774
Households
2
Avg Household Size
47
Median Age
28%
College-Educated
85%
High-School Grad
282.4 sq mi
ZIP Area
5
Density / Sq Mi
$64,750
Median Household Income
$36,712
Median Earnings
$663
Median Rent
$247,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Live-work setup includes a 1,800 SF building, manufactured home, and covered parking for flexible tenant or owner use.
Where is this live-work space located?
The property is located at 503 S 4th St Lometa, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1800 SF main commercial building previously used as a nail salon, including a spacious salon room and two bathrooms; Includes an additional 1100 SF manufactured home with 2 bedrooms, 2 baths, and an open living/kitchen area; Electric + central HVAC with central air; electric water heater
