Mixed-Use Property with
For Sale
$1,495,000
7757 State Park RD, Lockhart, TX 78644
Rural tract with multiple residences, utility infrastructure, wooded areas, and flexible use potential subject to applicable approvals.
Property Size3,055 SF
Price / SF$489.36
Days on Market10
Property Features for 7757 State Park RD
General Information
Standard status
Active
Size
3,055 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$8,248
Amenities
2 Parking Spaces. Driveway, Gravel, No Parking.
Lake, Water, Trees/Woods, Pond
Dirt Road, Gravel Road.
Building Details
Year Built
2005
Listing Agency:
Keller Williams Realty Lone Star
(512) 994-0247
Listed By:
Robert Fischer · License #0538860
(512) 994-0247
Source:
Xome
Added: Aug 23
Changed: Aug 31
Last Checked: Aug 31 at 3:30PM
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 Keller Williams Realty Lone Star
Investment Insights
Based on property information with market context.
This 28.1-acre mixed-use property combines residential improvements with open land, mature trees, wooded areas, a naturally fed pond, and elevated ridge views. Improvements include a 2,007-square-foot main residence, a 448-square-foot one-bedroom, one-bath casita, and a 600-square-foot one-bedroom, one-bath apartment. A detached garage, workshop, covered storage, decks, and porches provide additional functional space. Finished residential area totals approximately 3,055 square feet, with another approximately 600 square feet that could be completed.
The tract has approximately 800 feet of frontage on State Park Road and lies outside the City of Lockhart and its ETJ, with no municipal zoning. Approximately 21.9 acres are outside the mapped floodplain, including approximately 3.2 acres near the road frontage. Infrastructure includes 1 Maxwell SUD water meter, 3 Bluebonnet Electric meters, power extending from the front to the back, multiple septic systems, and VTX internet service. Potential applications identified for the property include a private estate, family compound, retreat center, boutique lodging, event venue, RV or recreational use, nonprofit or educational campus, and small rural subdivision, subject to required approvals.
The tract has approximately 800 feet of frontage on State Park Road and lies outside the City of Lockhart and its ETJ, with no municipal zoning. Approximately 21.9 acres are outside the mapped floodplain, including approximately 3.2 acres near the road frontage. Infrastructure includes 1 Maxwell SUD water meter, 3 Bluebonnet Electric meters, power extending from the front to the back, multiple septic systems, and VTX internet service. Potential applications identified for the property include a private estate, family compound, retreat center, boutique lodging, event venue, RV or recreational use, nonprofit or educational campus, and small rural subdivision, subject to required approvals.
Key Highlights
- 28.1‑acre tract with approximately 800 feet of State Park Road frontage
- Three living structures totaling approximately 3,055 square feet of finished residential space
- Naturally fed pond, mature tree canopy, wooded privacy, open acreage, and ridge views
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
$50,408
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
3.37%
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%
$1,008,160
$1.0M
Cap Rate 7%
$720,114
$720.1K
Cap Rate 9%
$560,089
$560.1K
Market Conditions
NOI Build-Up for 3,055 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
$91.7K $30.00/SF
− Vacancy
−$11.0K −$3.60/SF
EGI
$80.7K $26.40/SF
− OpEx
−$30.2K −$9.90/SF
NOI
$50.4K $16.50/SF
Area
Caldwell County, TX
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,008,160
Cap Rate 7%
$720,114
Cap Rate 9%
$560,089
Alternative Uses
Best Use
Mixed Use
$720.1K
$630.1K – $840.1K
NOI $50,408 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,395 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 78644, TX
20,813
Population
7,660
Households
2.7
Avg Household Size
38
Median Age
19%
College-Educated
87%
High-School Grad
179.9 sq mi
ZIP Area
116
Density / Sq Mi
$72,155
Median Household Income
$40,085
Median Earnings
$1,162
Median Rent
$242,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Rural tract with multiple residences, utility infrastructure, wooded areas, and flexible use potential subject to applicable approvals.
Where is this mixed-use property located?
The property is located at 7757 State Park RD Lockhart, TX.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 28.1‑acre tract with approximately 800 feet of State Park Road frontage; Three living structures totaling approximately 3,055 square feet of finished residential space; Naturally fed pond, mature tree canopy, wooded privacy, open acreage, and ridge views
