Live-Work Property with
For Sale
$275,000
503 S 4th Street, Lometa, TX 76853
CommercialSale, Lometa, TX
Property Size1,800 SF
Lot Size0.38 Acres
Price / SF$152.78
Days on Market844
Property Features for 503 S 4th Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking features
Carport, RV
Subdivision
Lometa
Lot features
Quarter To Half Acre Lot
Directions
In Lampasas go west on Hwy 190/183 for approximately 15 miles. Property is on the right. See sign.
Standard status
Active
APN
7267
Size
1,800 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
LOT: FR LOT 2 BLK: 49 ADDN: LOMETA
Tax Annual Amount
641
Legal Description
LOT: FR LOT 2 BLK: 49 ADDN: LOMETA
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Private
Amenities
spacious salon room
customer bath
laundry area
ample storage
second bath with shower
open living/kitchen area
storage Connex
2-car carport
RV parking
Building Details
Floors in Building
1
Flooring type
Tile, Vinyl
Building materials
Block, Concrete
Roof type
Metal
Listing Agency:
The Kuker Company
(512) 556-4600
Listed By:
Janet Myrick · License #0589146
(512) 734-0057
Added: May 14, 2024
Changed: Aug 20
Last Checked: Sep 4 at 10:06PM
MLS# 543979
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.
Investment Insights
Based on property information with market context.
This live-work property combines an 1,800-square-foot commercial building with a 1,100-square-foot manufactured home on a 0.38-acre parcel. The main building was previously used as a nail salon and includes an open salon area, customer restroom, laundry space, storage, and a second bathroom with a shower. The manufactured home offers two bedrooms, two bathrooms, and an open living and kitchen arrangement.
Additional improvements include an 8 X 40 storage Connex with electricity, a two-car carport, and RV parking on concrete slabs. The property has highway access and is located at 503 S 4th Street in Lometa, Texas. Construction includes block and concrete materials, with tile and vinyl flooring, central electric heating, electric cooling with central air, private water, public sewer, and a metal roof.
Additional improvements include an 8 X 40 storage Connex with electricity, a two-car carport, and RV parking on concrete slabs. The property has highway access and is located at 503 S 4th Street in Lometa, Texas. Construction includes block and concrete materials, with tile and vinyl flooring, central electric heating, electric cooling with central air, private water, public sewer, and a metal roof.
Key Highlights
- 1,800‑square‑foot commercial building formerly used as a nail salon
- 1,100‑square‑foot manufactured home with 2 bedrooms and 2 baths
- Main building includes salon area, laundry, storage, and 2 bathrooms
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
Mixed Use
$243.0K
$212.6K – $283.5K
NOI $17,010 @ 7.0% cap · market cap 6.19%
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 - Former nail salon space is paired with a separate two-bedroom manufactured home and dedicated storage improvements.
Where is this live-work space located?
The property is located at 503 S 4th Street 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: 1,800‑square‑foot commercial building formerly used as a nail salon; 1,100‑square‑foot manufactured home with 2 bedrooms and 2 baths; Main building includes salon area, laundry, storage, and 2 bathrooms
