Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    231 #200 Earl Garrett St Kerrville, TX 78028
    Back to Search
    Property profile & analytics

    231 #200 Earl Garrett St, Kerrville, TX 78028

    View on Map
    • Office Spaces
    • 1,114 SF
    • 0.17 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 231 #200 Earl Garrett St

    Year built
    1905
    Lot size
    0.17 lot acres
    Property type
    Office Spaces
    Property subtype
    Office Units

    Description

    This exceptional 1,114 square foot commercial condo, located at 231 Earl Garrett Street #200 in Kerrville, Texas, presents a unique investment opportunity. Situated in the heart of Kerrville's historic downtown district, this property boasts a prime location with high foot and vehicle traffic, and convenient street parking. The unit, designated Condo 4-A within the Earl Garrett Commercial Condominiums, is currently occupied by a tenant. Built in 1905, this creative/executive/traditional office space features a desirable upper-level location and includes a spacious 250 square foot covered balcony overlooking the street, perfect for enjoying downtown events. The property sits on a 0.17-acre lot and is zoned C3/DOWNTOWN HISTORIC, allowing for both commercial and residential use. The asking price is $125,000, with 80%-90% seller financing available. This presents a rare chance to acquire a thriving business space in a vibrant and historic Texas town. The property's central location ensures excellent visibility and accessibility, making it an ideal investment for both short-term and long-term growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kerrville
    County
    Kerr
    State
    Texas
    Longitude
    -99.1405
    Latitude
    30.046

    Comparable in this City

    • Value Estimation by Request
      1,447 SF

      413 Water St

      Medical Office Space
      413 Water St, Kerrville, TX 78028
      View Details
    • Value Estimation by Request
      0.17 Acres

      231 #100

      Office Units
      0 231 #100, Kerrville, TX 78028
      View Details
    • Value Estimation by Request
      14,645 SF

      227 Earl Garrett St

      Individual retail properties
      227 Earl Garrett St, Kerrville, TX 78028
      View Details
    • Value Estimation by Request
      36,858 SF

      305 Sidney Baker St

      Medical Office Space
      305 Sidney Baker St, Kerrville, TX 78028
      View Details
    • Value Estimation by Request
      832 SF

      402 Water St

      Medical Office Space
      402 Water St, Kerrville, TX 78028
      View Details
    • Value Estimation by Request
      880 SF

      222 #530

      Office Spaces
      222 #530, Kerrville, TX 78028
      View Details

    Similar Nearby for Sale

    • $375,000
      1,976 SF

      Kerrville Commercial Property with Charm

      Classic 1935 property with commercial potential in Kerrville, TX.
      1028 Jefferson St, Kerrville, TX 78028
      View Details
    • $1,199,000
      600 SF

      Kerrville Commercial Opportunity on Hwy 27

      C-2 zoned property with Guadalupe River frontage in Kerrville.
      2523 Memorial Blvd, Kerrville, TX 78028
      View Details
    • $789,120
      4,931 SF

      Kerrville Tower Office Space

      Spacious 4th-floor office with panoramic views in Kerrville, TX.
      Kerrville, TX 78028
      View Details
    • New
      $380,000
      2,368 SF

      Historic Mixed-Use Commercial Building

      Flexible, character-rich downtown property offering multiple conversion options within C2 zoning.
      427 Earl Garrett St, Kerrville, TX 78028
      View Details
    • $1,550,000
      12,804 SF

      Downtown Kerrville Mixed-Use Opportunity

      Two commercial buildings in downtown Kerrville with mixed-use potential.
      832 Water St, Kerrville, TX 78028
      View Details
    • $625,000
      864 SF

      Kerrville Commercial Opportunity For Sale

      Versatile commercial building with high visibility and flexible business potential.
      518 N Junction Hwy, Kerrville, TX 78028
      View Details

    Similar Nearby for Lease

    • $875 /Mo
      6,000 SF

      Downtown Kerrville Office Space Available

      All-inclusive office space in the heart of downtown Kerrville.
      228 Washington St, Kerrville, TX 78028
      View Details
    • $1,848 /Mo
      1,120 SF

      Kerrville Office Space For Lease

      Prime office space near medical center and hospital available for lease.
      707 Hill Country Dr, Kerrville, TX 78028
      View Details
    • Contact for pricing

      Downtown Kerrville Office and Retail

      Flexible office and retail space in a prime downtown location.
      429 Jefferson St, Kerrville, TX 78028
      View Details
    • $3,500 /Mo
      1,488 SF

      Kerrville Commercial Property For Rent

      C-2 Zoned property on 0.7 acres with office and carport.
      1302 Bandera Hwy, Kerrville, TX 78028
      View Details
    • Contact for pricing
      487,872 SF

      Kerrville Flex-Use Property For Rent

      Scenic 11.2-acre flex space with creek frontage near Kerrville.
      108 Aqua Vista Dr, Kerrville, TX 78028
      View Details
    • $500 /Mo

      Professional Office Suite in Kerrville

      Centrally located office suite with Hill Country views.
      222 Sidney Baker St, Kerrville, TX 78028
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    231 #200 Earl Garrett St
    Kerrville, TX 78028
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    231 #200 Earl Garrett St, Kerrville, TX, 78028
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!