Wimberley Mixed-Use Investment
For Sale
$2,200,000
Pending
600 Fm 3237, Wimberley, TX 78676
Two buildings on 2.32 acres in the Texas Hill Country.
Property Size8,800 SF
Lot Size2.32 Acres
Days on Market166
Property Features for 600 Fm 3237
General Information
Standard status
Pending
Size
8,800 SF
Lot size
2.32 Acres
Property subtype
Commercial
Building Details
Year Built
1998
Listing Agency:
Compass RE Texas, LLC
(512) 633-7349
Listed By:
Candy Spitzer
(512) 633-7349
Source:
Elliman
Added: Mar 10
Changed: Jul 6
Last Checked: Jul 23 at 3:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass RE Texas, LLC
Investment Insights
Based on property information with market context.
This investment property is located in Wimberley, in the Texas Hill Country. The property includes two buildings totaling over 8,800 square feet, situated on 2.32 acres off of FM 3237, a major roadway in the area. The spacious retail building is fully leased and operating as a design showroom. The multi-use second building has two fully leased apartment units on the upper floor and two retail spaces on the ground level, one of which is currently for lease. The property is zoned SC, which is intended to preserve and enhance the visual quality of the principal gateways to the city and will allow single-family residential, commercial, and community service businesses along the major highways leading into Wimberley.
Key Highlights
- Fully leased retail building operating as a design/showroom.
- Multi‑use building with two fully leased apartment units.
- Located on 2.32 acres off FM 3237, a major roadway in Wimberley.
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
$154,953
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
7.04%
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%
$3,099,060
$3.1M
Cap Rate 7%
$2,213,614
$2.2M
Cap Rate 9%
$1,721,700
$1.7M
Market Conditions
NOI Build-Up for 8,800 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
$229.2K $26.04/SF
− Vacancy
−$7.8K −$0.89/SF
EGI
$221.4K $25.15/SF
− OpEx
−$66.4K −$7.55/SF
NOI
$155.0K $17.61/SF
Area
Hays County, TX
Vacancy
3.40%
Lease Rate
$26.04 /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%
$3,099,060
Cap Rate 7%
$2,213,614
Cap Rate 9%
$1,721,700
Alternative Uses
Best Use
Retail
$2.21M
$1.94M – $2.58M
NOI $154,953 @ 7.0% cap · market cap 7.04%
Second Best
Mixed Use
$1.70M
$1.49M – $1.98M
NOI $118,800 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$3.68M
$3.22M – $4.29M
NOI $257,503 @ 7.0% cap · market cap 11.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 78676, TX
14,713
Population
7,487
Households
2
Avg Household Size
52
Median Age
50%
College-Educated
93%
High-School Grad
167.8 sq mi
ZIP Area
88
Density / Sq Mi
$86,819
Median Household Income
$44,745
Median Earnings
$1,432
Median Rent
$476,100
Median Home Value
Market
Vacancy Rate% for Retail 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?
Mixed-use property - Two buildings on 2.32 acres in the Texas Hill Country.
Where is this mixed-use property located?
The property is located at 600 Fm 3237 Wimberley, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Fully leased retail building operating as a design/showroom.; Multi‑use building with two fully leased apartment units.; Located on 2.32 acres off FM 3237, a major roadway in Wimberley.
