Commercial · Texas · Fredericksburg, Texas
For Sale · Retail · 9,234 SF ·
The Courtyard at Elk & Main is a fully renovated 9,234-square-foot mixed-use property occupying an entire block on East Main Street in downtown Fredericksburg. The asset combines eight complementary income streams under NNN lease structures — including a Waldorf Astoria liaison office, a Tesla Supercharging station with eight next-generation V4 stalls, The Harvey private event venue, and locally beloved wine and champagne operators Six Twists and Ocotillo. A renovated residential apartment carries a one-year lease, a vacant Main Street storefront offers owner-occupancy or lease-up potential, and a separate rear building provides opportunity for an eighth tenant. The Tesla station alone generates ten thousand dollars monthly in passive income.
Situated in Gillespie County within the Hill Country, the property benefits from Fredericksburg's standing as one of the nation's most visited small-city tourism destinations. The Courtyard sits at the center of two transformational hotel developments — the Kimpton-operated The Meuse and the Waldorf Astoria Hill Country — both opening in late 2027 through 2028 with over three hundred combined keys, positioned to increase demand for the property's event and retail revenue streams. The Waldorf office serves as the sales and planning headquarters for the brand's first Texas property, a 106-acre Hill Country resort.
The property carries a 5.79 percent cap rate on seven hundred fifty thousand dollars in NOI, with baseline gross revenue of seventy-two thousand five hundred dollars monthly. Architectural design reflects Fredericksburg's German heritage through custom rock details, clear alder millwork, and exposed beams. Zoned Central Business District with one hundred feet of Main Street frontage and sixteen on-site parking spaces, The Courtyard represents a curated hospitality-oriented asset with proven tenant synergy and significant upside through lease-up and hotel-driven demand growth. Legacy Broker Group exclusively represents the property through Charlie Riddle, Partner and Director of Commercial Real Estate.
Gallery
Property Details
| Zoning | CBD – Central Business District |
|---|---|
| Parking | 16 spaces (1.73 spaces per 1,000 SF leased) |
| Frontage | 100' on East Main Street |
| Lot Size | 0.90± AC |
| Year Built | 1995 (extensively renovated) |
| Building Height | 2 stories |
| Building FAR | 0.24 |
| Percent Leased | 85% |
| Cap Rate | 5.79% |
| NOI | $750,000 |
| Price Per SF | $1,402.43 |
| Tenancy | Multiple (NNN — tenants pay property taxes, insurance, utilities, maintenance) |
| Gross Revenue | $72,500/month ($870,000/year) at baseline configuration |
Property Highlights
- 9,234± SF fully renovated, multi-tenant Main Street asset occupying an entire city block in downtown Fredericksburg
- $12,950,000 asking price at a 5.79% cap rate and $750,000 NOI
- Eight complementary income streams under NNN lease structures, minimizing landlord operating exposure
- Waldorf Astoria liaison office — sales, planning, and pre-construction HQ for their 106-acre Hill Country Resort & Residences
- Tesla Supercharging station (108 S Elk St) with 8 next-gen V4 stalls, generating $10,000/month in passive income
- Positioned between two major hotel openings (2027-2028): Kimpton's The Meuse (200+ rooms) and Waldorf Astoria Hill Country (100+ keys)
- The Harvey — private event venue accommodating up to 100 guests with commercial catering kitchen and bar
- Six Twists — high-end wine and champagne lounge anchoring Main Street foot traffic
- Ocotillo — wine and chocolate bar complementing Six Twists' upscale clientele
- Renovated residential apartment (104B Elk St) with a one-year lease in place
- Vacant Main Street storefront (421 E Main) available for owner-occupancy or lease-up
- Additional vacant rear building offering potential for an 8th tenant/revenue stream
- Architectural design rooted in Fredericksburg's German heritage — custom rock details, clear alder millwork, exposed beams
- 100' of frontage on East Main Street in Fredericksburg's Central Business District (CBD) zoning
- 16 on-site parking spaces
- Notable ownership/brokerage track record includes The Boerne Mercantile, The William "Crescent Quarters," and Historic Bergmann Lumber Property
Property Video
Documents
Location
Approximate location. Boundary lines are for illustration only and are not a survey.
Listing Agents
Frequently Asked Questions
What is the asking price for The Courtyard?
The Courtyard is listed at $12,950,000, reflecting a 5.79% cap rate on $750,000 in NOI.
How big is The Courtyard?
The property spans 9,234± square feet on a 0.90± acre lot, occupying an entire block on East Main Street in downtown Fredericksburg.
What is the property's zoning?
The Courtyard is zoned CBD (Central Business District), with 100' of frontage on East Main Street.
How many tenants does The Courtyard have?
The property is designed around eight complementary income streams, including Waldorf Astoria, Tesla Supercharging, The Harvey, Ocotillo, Six Twists, a private events venue, a residential apartment, and a vacant Main Street storefront available for lease or owner-occupancy.
Is The Courtyard currently leased?
The property is 85% leased under NNN lease structures, which pass property taxes, insurance, utilities, and maintenance through to tenants.
What is significant about the Waldorf Astoria connection?
The Courtyard hosts the official pre-sales and planning headquarters for Waldorf Astoria's 106-acre Texas Hill Country Resort & Residences, Texas's first Waldorf Astoria property.
Does the property generate income from EV charging?
Yes. A Tesla Supercharging station at 108 S Elk Street features 8 next-generation V4 stalls (up to 325 kWh) and generates approximately $10,000/month in passive income.
What upcoming developments could impact this property?
Two major hotel projects are opening in immediate proximity in late 2027-2028: the Kimpton-operated The Meuse (200+ rooms) and the Waldorf Astoria Hill Country (100+ keys), both expected to increase demand for the property's event and retail revenue streams.
Is there room to add tenants or revenue streams?
Yes. A vacant Main Street storefront (421 E Main) is available for lease or owner-occupancy, and a separate vacant building at the rear of the property offers potential for an eighth tenant.
How much parking is available?
The property includes 16 on-site parking spaces, equal to 1.73 spaces per 1,000 SF leased.
Who is the listing broker?
The Courtyard is exclusively listed by Charlie Riddle, Partner and Director of Commercial Real Estate at Legacy Broker Group (210.383.0007).
What type of lease structures does The Courtyard operate under?
All tenants operate under NNN (triple-net) lease structures, meaning tenants pay property taxes, insurance, utilities, and maintenance, minimizing landlord operating exposure.
What makes Fredericksburg a strong market for mixed-use hospitality assets?
Fredericksburg is one of the nation's most visited small-city tourism destinations, drawing consistent traffic to downtown retail, dining, and event venues. Gillespie County's Hill Country location and German heritage drive year-round visitation and demand for curated hospitality experiences.
What is the architectural character of The Courtyard?
The property's design reflects Fredericksburg's German heritage through custom rock details, clear alder millwork, and exposed beams. The building was extensively renovated in 1995 and occupies two stories across a full downtown block.
How does The Courtyard generate revenue beyond traditional retail leases?
The property combines traditional retail and event space with emerging income streams including EV charging infrastructure, hotel liaison operations, and food and beverage tenants. The Tesla Supercharging station alone contributes ten thousand dollars monthly in passive income independent of foot traffic.
Work with Legacy Broker Group
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