Historic Dance Hall and Beer
For Sale
$1,795,500
527 North Main Street, Schulenburg, TX 78956
COMMERCIAL - Schulenburg, TX
Property Size11,620 SF
Lot Size0.25 Acres
Price / SF$154.52
Days on Market657
Property Features for 527 North Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bathroom 2, Bathroom 3
Standard status
Active
APN
44742;44747
Size
11,620 SF
Lot size
0.25 Acres
Utilities
Water source
Public
Amenities
professional sound system
stage
balcony
private event spaces
commercial kitchen
Building Details
Year built
1894
Floors in Building
2
Listing Agency:
Bubela Real Estate
(979) 743-4555
Listed By:
Chip Bubela · License #0566009
Schulenburg (979) 221-6679 Flatonia (361)741-4890
Added: Oct 24, 2024
Changed: Aug 4
Last Checked: Aug 11 at 5:06PM
MLS# 144860
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.
Investment Insights
Based on property information with market context.
Sengelmann Hall is a historic two-story dance hall/beer garden property built in 1894, offering a mix of entertainment, dining, and event-ready space. The building includes a spacious main hall with soaring ceilings, a spacious second-floor balcony, and a 4,000-square-foot dance floor with original Victorian interiors. The layout also features a full-service commercial kitchen, stage space for live performances, and multiple private dining and event spaces, along with a professional sound system and two stages. Upstairs, the maximum occupancy is 400 in the hall. The property’s public amenities include four bathrooms.
Set at 527 North Main Street in Schulenburg, Texas, the venue benefits from storefront-style frontage on Main Street and easy access for patrons.
With more than 10,000 square feet of versatile space and a built-in event configuration, the property supports a range of commercial uses such as a restaurant, brewery, or event venue.
Set at 527 North Main Street in Schulenburg, Texas, the venue benefits from storefront-style frontage on Main Street and easy access for patrons.
With more than 10,000 square feet of versatile space and a built-in event configuration, the property supports a range of commercial uses such as a restaurant, brewery, or event venue.
Key Highlights
- Built in 1894
- 4,000‑square‑foot dance floor with original Victorian interiors
- Full‑service commercial kitchen plus two performance stages
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
$59,446
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
3.31%
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%
$1,188,920
$1.2M
Cap Rate 7%
$849,229
$849.2K
Cap Rate 9%
$660,511
$660.5K
Market Conditions
NOI Build-Up for 11,620 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
$93.4K $8.04/SF
− Vacancy
−$8.5K −$0.73/SF
EGI
$84.9K $7.31/SF
− OpEx
−$25.5K −$2.19/SF
NOI
$59.4K $5.12/SF
Area
Fayette County, TX
Vacancy
9.10%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,188,920
Cap Rate 7%
$849,229
Cap Rate 9%
$660,511
Alternative Uses
Best Use
Specialty Retail
$2.40M
$2.10M – $2.80M
NOI $168,008 @ 7.0% cap · market cap 9.36%
Second Best
Industrial
$849.2K
$743.1K – $990.8K
NOI $59,446 @ 7.0% cap · market cap 3.31%
Theoretical Best
Multifamily LT 5
$130.28M
$113.99M – $151.99M
NOI $9,119,418 @ 7.0% cap · market cap 507.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
8k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Home Improvements & Furnishings 21%
Exxon
Shops & Services
5,090 visits/mo
0.3 miles
True Value Hardware
Home Improvements & Furnishings
1,721 visits/mo
0.2 miles
Wells Fargo
Shops & Services
1,436 visits/mo
0.2 miles
Demographics for 78956, TX
5,161
Population
2,723
Households
1.9
Avg Household Size
51
Median Age
20%
College-Educated
87%
High-School Grad
169.2 sq mi
ZIP Area
31
Density / Sq Mi
$67,022
Median Household Income
$42,668
Median Earnings
$1,064
Median Rent
$231,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Tillie's Cafe — 621 N Main St Suite C, Schulenburg, TX 78956
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- Joe's — 621 N Main St Suite B, Schulenburg, TX 78956
- Adolf's Bar — 233 College St, Schulenburg, TX 78956
Frequently Asked Questions
What type of property is this?
Bar & Pub - Two-story historic venue with a full-service commercial kitchen, stages, upstairs balcony, and a beer garden.
Where is this bar & pub located?
The property is located at 527 North Main Street Schulenburg, TX.
What is the asking price?
The asking price for this property is $1,795,500.
What are key features of this property?
This property features: Built in 1894; 4,000‑square‑foot dance floor with original Victorian interiors; Full‑service commercial kitchen plus two performance stages
