Historic Dance Hall Concert
550 North Washington Street, Round Top, TX 78954
For Sale
$4,950,000
Commercial, Round Top, TX
Property Size18,631 SF
Lot Size4.47 Acres
Price / SF$265.69
Days on Market203
Property Features for 550 North Washington Street
General Information
Property type
Property subtype
Bathrooms
Full bathrooms
Rooms
Exterior features
Directions
Standard status
APN
Size
Lot size
Utilities
Water source
Amenities
RV park with full hookups
Building Details
Floors in Building
Roof type
Listing Agency:
ROUND TOP REAL ESTATE
Listed By:
Frank Hillbolt · License TX #0502045
(979) 249-5732
Added: Apr 22
Changed: Oct 30
Last Checked: Nov 10 at 5:06AM
MLS# 150902
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.
This commercial entertainment property centers on a registered Texas dance hall with a documented musical history. The improvements also include a pub located in the original La Grange railroad depot, which was relocated to Round Top in the 1990s. Expansion completed in 2023-2024 added a full-service restaurant, commercial kitchen, and speakeasy-style bar, while retail space is available during the twice-yearly antique shows and added winter show.
The property is located at 550 North Washington Street in Round Top, along Hwy 237. Parking is provided along the highway, with a separate rear lot for overflow use. A 3-acre RV park with full hookups adds on-site lodging capacity, and the property encompasses 4.472 acres. Additional physical features include a wood exterior, metal roof, public water, and multiple bathrooms.
The property is located at 550 North Washington Street in Round Top, along Hwy 237. Parking is provided along the highway, with a separate rear lot for overflow use. A 3-acre RV park with full hookups adds on-site lodging capacity, and the property encompasses 4.472 acres. Additional physical features include a wood exterior, metal roof, public water, and multiple bathrooms.
Key Highlights
- Registered Texas dance hall with a documented musical history
- Restaurant, commercial kitchen, and speakeasy‑style bar added in 2023‑2024
- Original La Grange railroad depot relocated to Round Top in the 1990s
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$269,376
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,387,520
$5.4M
Cap Rate 7%
$3,848,229
$3.8M
Cap Rate 9%
$2,993,067
$3.0M
Market Conditions
NOI Build-Up for 18,631 SF
Gross rent
$380.1K $20.40/SF
− Vacancy
−$20.9K −$1.12/SF
EGI
$359.2K $19.28/SF
− OpEx
−$89.8K −$4.82/SF
NOI
$269.4K $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%
$5,387,520
Cap Rate 7%
$3,848,229
Cap Rate 9%
$2,993,067
Alternative Uses
Best Use
Specialty Retail
$3.85M
$3.37M – $4.49M
NOI $269,376 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.75M
$4.16M – $5.54M
NOI $332,418 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
212
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?
Theater & concert hall - The venue combines an event hall, restaurant, commercial kitchen, bar, retail space, and extensive parking areas.
Where is this theater & concert hall located?
The property is located at 550 North Washington Street Round Top, TX.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Registered Texas dance hall with a documented musical history; Restaurant, commercial kitchen, and speakeasy‑style bar added in 2023‑2024; Original La Grange railroad depot relocated to Round Top in the 1990s
