Four-Unit Mixed-Use
New
For Sale
$975,000
812 N Llano St, Fredericksburg, TX 78624
Two buildings combine flexible office suites with a leased salon space and covered entries.
Property Size2,740 SF
Price / SF$355.84
Days on Market2
Property Features for 812 N Llano St
General Information
Standard status
Active
Size
2,740 SF
Property subtype
Commercial
Additional Details
Corner Location
Yes
Office Units
4
Taxes and HOA fees
Annual Taxes
$7,858
Amenities
kitchenette
full bath
half bath
central HVAC
wall-mounted HVAC
covered front porch
lockable connecting doors
covered entry canopy
Building Details
Year Built
1940
Buildings
2
Tenancy
Multi
Listing Agency:
eXp Realty LLC / Tinsley Realty Group
Listed By:
Somer Tinsley · License #TREC#619132-B
(830) 928-7193
Source:
Kellyjogonzalez
Added: Sep 11
Last Checked: Sep 11 at 2:31PM
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 / Tinsley Realty Group
Investment Insights
Based on property information with market context.
This mixed-use property at 812 N Llano St includes four rentable units across two buildings. The rear building, constructed in 1985, contains three office suites totaling 1,752 SF. Suite A has a kitchenette, full bathroom, central HVAC, and frontage on E. Hackberry St. Suites B and C face N. Llano St. and include half bathrooms, wall-mounted HVAC, and covered front porches. Lockable interior doors allow the suites to operate together as larger office configurations.
The approximately 988-SF corner building dates to the 1940s and is leased to a long-term hair salon tenant. It provides two main rooms, a bathroom, central HVAC, and a covered entry canopy. Recent property improvements include new roofs, interior and exterior paint, new flooring, resurfaced asphalt parking, and a new central HVAC system in Unit C. The property is eight blocks from downtown and is surrounded by established businesses, offices, and short-term rentals. Ownership covers water and sewer, while tenants pay electricity.
The approximately 988-SF corner building dates to the 1940s and is leased to a long-term hair salon tenant. It provides two main rooms, a bathroom, central HVAC, and a covered entry canopy. Recent property improvements include new roofs, interior and exterior paint, new flooring, resurfaced asphalt parking, and a new central HVAC system in Unit C. The property is eight blocks from downtown and is surrounded by established businesses, offices, and short-term rentals. Ownership covers water and sewer, while tenants pay electricity.
Key Highlights
- Four rentable units across two separate buildings
- Three rear‑building office suites totaling 1,752 SF
- Approximately 988 SF corner building leased to a long‑term hair salon tenant
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
$36,620
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
3.76%
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%
$732,400
$732.4K
Cap Rate 7%
$523,143
$523.1K
Cap Rate 9%
$406,889
$406.9K
Market Conditions
NOI Build-Up for 2,740 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
$65.1K $23.76/SF
− Vacancy
−$16.3K −$5.94/SF
EGI
$48.8K $17.82/SF
− OpEx
−$12.2K −$4.46/SF
NOI
$36.6K $13.37/SF
Area
Gillespie County, TX
Vacancy
25.00%
Lease Rate
$23.76 /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%
$732,400
Cap Rate 7%
$523,143
Cap Rate 9%
$406,889
Alternative Uses
Best Use
Office B
$523.1K
$457.8K – $610.3K
NOI $36,620 @ 7.0% cap · market cap 3.76%
Second Best
Mixed Use
$180.0K
$157.5K – $210.0K
NOI $12,598 @ 7.0% cap · market cap 1.29%
Theoretical Best
Hotel Hospitality
$2.07M
$1.82M – $2.42M
NOI $145,247 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
Explore this area
Business Placement
Demographics for 78624, TX
23,080
Population
12,421
Households
1.9
Avg Household Size
52
Median Age
37%
College-Educated
89%
High-School Grad
742.3 sq mi
ZIP Area
31
Density / Sq Mi
$67,987
Median Household Income
$37,047
Median Earnings
$1,347
Median Rent
$439,600
Median Home Value
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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?
Mixed-use property - Two buildings combine flexible office suites with a leased salon space and covered entries.
Where is this mixed-use property located?
The property is located at 812 N Llano St Fredericksburg, TX.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Four rentable units across two separate buildings; Three rear‑building office suites totaling 1,752 SF; Approximately 988 SF corner building leased to a long‑term hair salon tenant
