Mixed-Use Property with Detached
For Sale
$350,000
808 Water ST, Burnet, TX 78611
Updated flexible building with private rooms, a kitchen, covered porch, fenced yard, and workshop or storage space.
Property Size1,312 SF
Lot Size0.50 Acres
Price / SF$266.77
Days on Market9
Property Features for 808 Water ST
General Information
Standard status
Active
Size
1,312 SF
Total Parking Spaces
2
Lot size
0.50 Acres
Property subtype
Mixed Use
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$6,911
Amenities
covered front porch
fenced rear yard
detached two-car garage
historic smokehouse
Central Air, Electric
Parking.
10 Parking Spaces. Garage, Lot, Unpaved, No Parking.
City
Gravel Road.
Building Details
Year Built
1920
Buildings
3
Listing Agency:
eXp Realty, LLC
(512) 755-5880
Listed By:
Kayla Runge · License #0733298
(512) 755-5880
Source:
Xome
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 6:02AM
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.
This mixed-use property includes a 1,312-square-foot building on approximately 0.5 acres, with a layout that can support commercial or residential occupancy. The updated interior features multiple private rooms, a full bathroom with a walk-in tiled shower, a kitchen with tiled countertops and backsplash, refinished cabinetry, and a combination of tile and hardwood flooring. Large windows bring natural light into the building, while a covered front porch and fenced rear yard extend the usable space.
A detached two-car garage provides workshop, equipment, or storage capacity, with backyard access connecting it to the main building. The property also includes a historic smokehouse built in 1949. Positioned along Hwy 281 frontage in Burnet, the site offers direct highway exposure and central access. Commercial conversion, zoning, permitted uses, access, and parking requirements should be verified with the City of Burnet.
A detached two-car garage provides workshop, equipment, or storage capacity, with backyard access connecting it to the main building. The property also includes a historic smokehouse built in 1949. Positioned along Hwy 281 frontage in Burnet, the site offers direct highway exposure and central access. Commercial conversion, zoning, permitted uses, access, and parking requirements should be verified with the City of Burnet.
Key Highlights
- 1,312‑square‑foot building on approximately 0.5 acres
- Direct Hwy 281 frontage in Burnet
- Updated interior with multiple private rooms, kitchen, full bathroom, tile, and hardwood flooring
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
$27,574
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
7.88%
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%
$551,480
$551.5K
Cap Rate 7%
$393,914
$393.9K
Cap Rate 9%
$306,378
$306.4K
Market Conditions
NOI Build-Up for 1,312 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
$44.1K $33.60/SF
− Vacancy
−$7.3K −$5.58/SF
EGI
$36.8K $28.02/SF
− OpEx
−$9.2K −$7.01/SF
NOI
$27.6K $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%
$551,480
Cap Rate 7%
$393,914
Cap Rate 9%
$306,378
Alternative Uses
Best Use
Office B
$393.9K
$344.7K – $459.6K
NOI $27,574 @ 7.0% cap · market cap 7.88%
Second Best
Retail
$343.3K
$300.4K – $400.5K
NOI $24,028 @ 7.0% cap · market cap 6.87%
Theoretical Best
Hotel Hospitality
$988.2K
$864.7K – $1.15M
NOI $69,175 @ 7.0% cap · market cap 19.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
419
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated flexible building with private rooms, a kitchen, covered porch, fenced yard, and workshop or storage space.
Where is this mixed-use property located?
The property is located at 808 Water ST Burnet, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,312‑square‑foot building on approximately 0.5 acres; Direct Hwy 281 frontage in Burnet; Updated interior with multiple private rooms, kitchen, full bathroom, tile, and hardwood flooring
