The Courtyard at Elk & Main

421–427 E. Main Street & 104–108 S. Elk Street, Fredericksburg, TX | 9,318 sqft

GALLERY
DETAILS
HIGHLIGHTS
PROPERTY VIDEO

GALLERY

PROPERTY DETAILS

The Courtyard at Elk & Main is a one-of-a-kind, curated mixed-use commercial complex positioned at the epicenter of historic downtown Fredericksburg, Texas — consistently ranked among the nation’s most visited small-city tourism destinations. Spanning 9,318 square feet across a thoughtfully designed campus, the property blends premier food & beverage tenants, a state-of-the-art private event venue, a hotel partnership office, a residential apartment, EV supercharging infrastructure, and open courtyard event space into a single, highly synergistic hospitality asset.

The architectural character of the complex pays deep tribute to Fredericksburg’s German heritage, featuring authentic custom rock detailing, warm clear-alder millwork, and exposed timber elements that bridge historic craftsmanship with modern luxury. Expansive windows flood each space with natural light, and the central courtyard — anchored by a classic fountain surrounded by mature trees — creates an inviting, destination-worthy atmosphere that draws both devoted locals and millions of annual tourists. Every design decision has been made to attract and retain an affluent, discerning clientele.

From an investment standpoint, The Courtyard operates under triple-net (NNN) lease structures across its tenancy, effectively passing property taxes, insurance, utilities, and maintenance responsibilities to tenants and significantly reducing landlord operating exposure. The property currently generates $72,500 in monthly gross revenue ($870,000 annually) at its baseline configuration, with meaningful upside tied to the imminent opening of two transformational luxury hotel developments — the Kimpton-operated The Meuse (200+ rooms) and the Waldorf-Astoria Hill Country Resort & Residences (100+ keys) — both located within immediate proximity and projected to open in late 2027–2028.

PROPERTY HIGHLIGHTS

Location & market position

  • Prime downtown Fredericksburg location on US Highway 290 — the city’s highest-traffic commercial corridor
  • Situated at the corner of E. Main Street and S. Elk Street, offering dual-street visibility and access
  • Fredericksburg draws millions of annual visitors, ranking among the nation’s most visited small cities
  • Within immediate proximity of two incoming luxury hotel developments adding 300+ keys by 2027–2028
  • Surrounded by the Texas Hill Country wine country ecosystem, drawing high-net-worth leisure and corporate travel

Income & financial performance

  • $870,000 in annual gross revenue ($72,500/month) at current baseline configuration
  • Eight distinct, complementary income streams providing diversification within a single asset
  • Implied valuation of $14.5M–$17.4M based on a 5–5.5% cap rate on annual NOI
  • NNN lease structures minimize landlord operating costs and protect net income
  • Tesla EV Supercharger station generates $10,000/month in fully passive revenue
  • Private event venue (The Harvey) represents the highest-margin income stream with significant growth potential

Tenant portfolio

  • Waldorf-Astoria Hill Country — exclusive pre-sales center and hotel liaison office at 104A Elk Street
  • Tesla V4 Supercharging Station (8 stalls, up to 325 kWh) — universal EV compatibility integrated into Tesla and Google Maps navigation
  • Six Twists — upscale champagne, caviar, and curated bubble lounge redefining the regional wine shop experience
  • Ocotillo Wine Bar — premium wine and artisan chocolate bar pairing globally sourced vintages in a high-end setting
  • The Harvey — private event venue for up to 100 guests with full commercial catering kitchen and premium bar
  • Courtyard Private Events — secondary venue revenue for corporate retreats, intimate weddings, and VIP buyouts
  • Residential apartment (104B Elk Street) — steady income stream with zero impact on commercial parking
  • New food tenant opportunity — turnkey hospitality space on E. Main Street ready for immediate occupancy

Property & infrastructure

  • 9,318 total square feet across a multi-building campus with a central landscaped courtyard
  • Fully built-out commercial catering kitchen serving The Harvey event venue
  • Tesla V4 Supercharger infrastructure drives 400–500 unique weekly visitors directly to the courtyard
  • Architectural design honors Fredericksburg’s German heritage through custom rock, clear-alder, and exposed timber elements
  • Dedicated on-site parking with no conflict between commercial and residential uses
  • Private meeting room within The Harvey for VIP green rooms, corporate breakouts, and board meetings

Upside & growth catalysts

  • Kimpton-operated The Meuse (200+ rooms) and Waldorf-Astoria Hill Country (100+ keys) opening nearby in 2027–2028
  • Incoming luxury hotel traffic expected to dramatically increase demand for private event buyouts
  • One tenant opportunity currently available, offering immediate NOI expansion upon lease-up
  • Waldorf-Astoria pre-sales operations bring a steady pipeline of high-net-worth buyers and global travelers to the property
  • Growing EV-driving visitor demographic continues to increase Supercharger utilization and ancillary retail spend
  • Significant below-market upside as the surrounding hospitality market matures around two world-class hotel anchors

PROPERTY VIDEO

LISTING AGENTS

With a deep passion for Boerne's unique heritage and bright future, Charlie brings a modern perspective to his community while honoring its rich cultural traditions. This passion is evident in the remarkable commercial projects where Charlie serves as a creative visionary, dedicated to promoting sustainable, high-quality growth in Boerne and the surrounding Texas Hill Country. His innovative approach combines respect for the area's history with a forward-thinking mindset, ensuring that every endeavor enhances the community’s legacy. Charlie’s commitment to excellence extends to his ability to navigate complex deals and projects with precision and expertise. His results-driven business acumen equips clients with the knowledge and confidence to make informed decisions throughout the process. Whether managing intricate commercial listings or overseeing ambitious developments, Charlie ensures every step is handled with care and professionalism. At the heart of Charlie's work is a dual focus: closing deals with exceptional outcomes and empowering his clients to enjoy a seamless, rewarding experience. Through his efforts, he enables clients to actively participate in creating lasting legacies for themselves and their community, leaving a meaningful impact on Boerne and beyond.

Charlie Riddle

DIRECTOR OF COMMERCIAL, PARTNER

(210)-383-0007

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Our Story

ABOUT LEGACY BROKER GROUP:

Legacy Broker Group was established in 2016 by Richmond and Traci Frasier, and later rebranded in 2018. With the inclusion of partners Mark Bukowski and Charlie Riddle in 2021, and Krista Upham in 2024, the expansion of Legacy Broker Group’s presence and team accelerated significantly.

Supported by a growing family skilled agents and brokers, Legacy Broker Group utilizes its combined expertise to offer a comprehensive range of services. These services are backed by robust systems for back office management, agent support, transaction handling, marketing, and client concierge services. 

Through these resources, Legacy Broker Group empowers its clients, the local community, and its own team members to participate in creating enduring legacies through their real estate ventures.

Our FOOTPRINT

From our central hub, we consistently work with partner brokerages and exceptional agents to strengthen our growing network. This collaboration helps us establish regional and local offices that deliver tailored services to meet diverse client needs. As a result, our expanding footprint allows us to enter new markets across Texas, New Mexico, Oklahoma, and Colorado. Even so, we remain deeply committed to the communities we currently serve, where our team members live, work, and thrive. By prioritizing local relationships, we ensure our services align with the unique needs of each community we touch.

From our central hub, we collaborate with brokerages and exceptional agents to cultivate a growing network of regional and local offices. This expanding reach allows us to provide personalized service while strategically entering new markets across Texas, New Mexico, Oklahoma, and Colorado. However, our primary commitment remains to the communities we proudly serve—where our team members live, work, and thrive.
Legacy Broker Group proudly serves a variety of Texas markets, including Highland Lakes, Fair Oaks Ranch, Boerne, Fredericksburg, Comfort, Ozona, and Alpine. We connect buyers and sellers with exceptional real estate expertise, offering personalized service rooted in deep local knowledge and a strong commitment to excellence. In Highland Lakes, our focus is on stunning waterfront properties and scenic ranches. Fair Oaks Ranch and Boerne feature luxurious homes and Hill Country estates, ideal for families or retirees seeking a peaceful yet vibrant lifestyle. Fredericksburg offers a mix of historic homes, vineyards, and charming weekend getaways, while Comfort provides a tranquil small-town setting with unique investment opportunities. Further west, Ozona boasts expansive ranchlands perfect for agriculture and hunting, and Alpine pairs breathtaking mountain views with a vibrant cultural atmosphere. With an expanding network of regional and local offices, Legacy Broker Group uses advanced technology, innovative marketing techniques, and a thorough understanding of market trends to help clients navigate their real estate journeys. Whether you're buying or selling, our experienced team is here to guide you through every step in these distinctive Texas communities.

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Agents and brokers across the state of Texas
Partners Pictured: Krista Upham, Richmond Frasier, Charlie Riddle & Mark Bukowski
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Corporate headquarters: Boerne, TX