Office
New
For Sale
$625,000
605 N Water Street, Burnet, TX 78611
Near downtown Burnet, the property has a flexible layout suited to professional, business, or service uses.
Property Size2,672 SF
Price / SF$233.91
Days on Market4
Property Features for 605 N Water Street
General Information
Standard status
Active
Size
2,672 SF
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$9,398
Listing Agency:
eXp Realty, LLC
(888) 519-7431
Listed By:
Kelsie Warner · License #0758047
(512) 755-4560
Source:
Exprealty
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 2:53PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
The 2,672-square-foot office property at 605 N Water Street offers a flexible layout for professional, business, or service-oriented operations. The building has served commercial occupants, supporting its use as an office or other business space.
The property is in Burnet near downtown, restaurants, and area businesses, with access from N Water Street.
The property is in Burnet near downtown, restaurants, and area businesses, with access from N Water Street.
Key Highlights
- Approximately 2,672 square feet
- Flexible layout for professional, business, or service‑oriented use
- Located at 605 N Water Street in Burnet, near downtown, restaurants, and area businesses
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
$56,157
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
8.99%
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%
$1,123,140
$1.1M
Cap Rate 7%
$802,243
$802.2K
Cap Rate 9%
$623,967
$624.0K
Market Conditions
NOI Build-Up for 2,672 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
$89.8K $33.60/SF
− Vacancy
−$14.9K −$5.58/SF
EGI
$74.9K $28.02/SF
− OpEx
−$18.7K −$7.01/SF
NOI
$56.2K $21.02/SF
Area
Burnet County, TX
Vacancy
16.60%
Lease Rate
$33.60 /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%
$1,123,140
Cap Rate 7%
$802,243
Cap Rate 9%
$623,967
Alternative Uses
Best Use
Office B
$802.2K
$702.0K – $936.0K
NOI $56,157 @ 7.0% cap · market cap 8.99%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$2.01M
$1.76M – $2.35M
NOI $140,881 @ 7.0% cap · market cap 22.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
670
Businesses Nearby
Explore this area
Business Placement
Demographics for 78611, TX
14,839
Population
7,417
Households
2
Avg Household Size
47
Median Age
28%
College-Educated
91%
High-School Grad
274.1 sq mi
ZIP Area
54
Density / Sq Mi
$78,243
Median Household Income
$40,062
Median Earnings
$1,111
Median Rent
$291,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Near downtown Burnet, the property has a flexible layout suited to professional, business, or service uses.
Where is this office building located?
The property is located at 605 N Water Street Burnet, TX.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Approximately 2,672 square feet; Flexible layout for professional, business, or service‑oriented use; Located at 605 N Water Street in Burnet, near downtown, restaurants, and area businesses
