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    250 Us Hwy 290 # Elgin, TX 78621

    For Sale
    $1,650,000

    High-Yield Retail Investment Opportunity

    Property size:
    4,204 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional 4,204 square foot shopping center in Elgin, Texas presents a compelling investment opportunity. Boasting a 6.90% cap rate and a compelling asking price of $1,650,000, this property offers strong returns. The center is fully occupied (100%) by two tenants, secured by corporate guarantees, providing stability and predictable income. Built in 2001 and extensively renovated in 2023, the single-story, Class B building sits on a 0.402-acre lot and includes 28 parking spaces. The property features a convenient C-1 Neighborhood Shopping District zoning. The Net Operating Income (NOI) is $113,761, reflecting a price per square foot of $392.48. Lease options and rent bumps are in place, ensuring future income growth. This is a turnkey investment with a proven track record, offering a rare opportunity to acquire a well-maintained, high-performing retail property in a thriving Texas market. The property is located at 250 W US HIGHWAY 290 # A, ELGIN, TEXAS 78621. This is a multi-tenant property with a strong tenant mix. The property is well-maintained and offers a great opportunity for investors seeking a stable, high-yielding investment.

    Property Features for 250 Us Hwy 290 #

    General Information

    Property type
    Lifestyle centers
    Square Feet
    4,204 SF
    Class
    B
    Lot Size
    17,511 SF

    Building Details

    Year Built/Renovated
    2001/2023
    Buildings
    1
    Stories
    1
    Units
    2

    HighLights

    • High‑quality drone flyover video available.
    • Exceptional visibility and accessibility from major roadways.
    • Prime location in a thriving commercial district with high foot traffic.
    • Modern, efficient floor plan ideal for a variety of businesses.
    • Ample on‑site parking for employees and clients.
    • Recently renovated with high‑end finishes and updated systems.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Map

    City
    Elgin
    County
    Bastrop
    State
    Texas
    Longitude
    -97.3732213
    Latitude
    30.3375765

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    FAQs

    What type of property is this?
    Lifestyle center - High-Yield Retail Investment Opportunity
    Where is this lifestyle center located?
    The property is located at 250 Us Hwy 290 # Elgin, TX.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: High-quality drone flyover video available.; Exceptional visibility and accessibility from major roadways.; Prime location in a thriving commercial district with high foot traffic.
    Request Owner's contact information
    250 Us Hwy 290 # Elgin, TX 78621
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    Elgin, TX 78621
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    250 Us Hwy 290 # Elgin, TX 78621
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