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Historic Home with Commercial Zoning

606 S Key Ave, Lampasas, TX 76550

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For Sale

$750,000

1904 historic home with income potential and commercial zoning.

Type:Commercial

Property size:

3,382 SF

Price / SF:

$221/SF

HighLights

Historic 1904 home with 3,382 sq ft of timeless charm and original craftsmanship.
Commercial/retail zoning allows for diverse uses: residential, retail, office, B&B, or STR.
Currently operating as a short‑term rental with income potential.
Features soaring ceilings, original woodwork, stained glass, and multiple fireplaces.
Very Walkable location (Walk Score 73).
Expansive covered porch and garden tub for relaxation.

We can help!

Listing Contact

Colleen Eckermann

Learn more

For Sale

$750,000

1904 historic home with income potential and commercial zoning.

Type:Commercial

Property size:

3,382 SF

Price / SF:

$221/SF

Added:: Apr 24, 2026
Days on Market:: 50
Last Refresh:: Apr 24 at 5:38 pm

Property Features for 606 S Key Ave

General Information

Standard status: Active
Size: 3,382 SF
Property subtype: Commercial

Building Details

Year Built: 1904

We can help!

Listing Contact

Colleen Eckermann

Listing agent Colleen Eckermann License #0801462

Listing office Carpenter Real Estate

Listing date Apr 24, 2026

Source Elliman

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 Carpenter Real Estate

HighLights

Historic 1904 home with 3,382 sq ft of timeless charm and original craftsmanship.
Commercial/retail zoning allows for diverse uses: residential, retail, office, B&B, or STR.
Currently operating as a short‑term rental with income potential.
Features soaring ceilings, original woodwork, stained glass, and multiple fireplaces.
Very Walkable location (Walk Score 73).
Expansive covered porch and garden tub for relaxation.

Overview

This 3,382 square-foot historic home, built in 1904, features timeless charm and craftsmanship. Currently operating as a short-term rental, the property offers income potential and versatility. With commercial/retail zoning, the property can be used as boutique retail, professional office space, a bed and breakfast, or continued short-term rental. Soaring ceilings, original woodwork, stained glass accents, and multiple fireplaces create a warm atmosphere. The grand staircase and fireplace mantels showcase exceptional detail. Large windows invite natural light while highlighting the historic character. Features include an expansive covered porch and a garden tub. The property has a bike score of 50, making it bikeable, and a walk score of 73, indicating it is very walkable.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$73.1k	$21.60
− Vacancy	−$13.4k	−$3.97
EGI	$59.6k	$17.63
− OpEx	−$14.9k	−$4.41
NOI	$44.7k	$13.22

3,382 SF · lease $21.60/SF/yr · vacancy 18.40% · expense 25.00%

Alternative Uses

Best Use

Office B

$638.7K

$558.8K – $745.1K (±1% cap)

NOI $44,707 @ 7.0% cap · market cap 5.96%

Second Best

Retail

$574.7K

$502.8K – $670.5K (±1% cap)

NOI $40,227 @ 7.0% cap · market cap 5.36%

Theoretical Best

Office A

$812.3K

$710.8K – $947.7K (±1% cap)

NOI $56,863 @ 7.0% cap · market cap 7.58%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Shell & Shell Law Firm

Suggested Use

Location Insight

Map
Local Demand

City: Lampasas
County: Lampasas
State: Texas
Longitude: -98.186256
Latitude: 31.071707

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What type of property is this?

Short term rental property - 1904 historic home with income potential and commercial zoning.

Where is this short term rental property located?

The property is located at 606 S Key Ave Lampasas, TX.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: Historic 1904 home with 3,382 sq ft of timeless charm and original craftsmanship.; Commercial/retail zoning allows for diverse uses: residential, retail, office, B&B, or STR.; Currently operating as a short‑term rental with income potential.