24 N MAIN ST ELGIN TX 78621-2654
Cash-flowing DT Elgin mixed-use investment
Marketing description
Positioned in the heart of Historic Downtown Elgin, this fully leased mixed-use investment opportunity offers a rare combination of stable income, historic charm, and long-term upside within one of Central Texas’ rapidly growing corridors. Located along North Main Street with excellent visibility and walkability, the property features 2,314 SF of thoughtfully renovated improvements consisting of a 1,008 SF retail storefront and a 1,306 SF residential apartment configured as a 2-bedroom, 1-bath unit.
Originally renovated in 2016, the property underwent extensive system upgrades including electrical wiring, plumbing, and interior improvements, creating a low-maintenance investment opportunity for future ownership. In October 2021, a new roof was installed, further strengthening the asset’s long-term durability and reducing near-term capital expenditure concerns.
The property is currently stabilized with one commercial tenant and one residential tenant in place, generating immediate income while still presenting future upside through below-market lease positioning. Investors have the opportunity to increase returns over time through rental adjustments and continued downtown growth driven by the expanding Austin metro influence moving eastward.
Surrounded by local restaurants, retail shops, and community-driven businesses, this location benefits from the continued revitalization and increasing demand seen throughout Downtown Elgin. The property is well suited for investors seeking a turnkey mixed-use asset, 1031 exchange buyers pursuing long-term appreciation, or owner-users looking to offset occupancy costs with supplemental rental income. Minutes to airport, Tesla, State Capital, Samsung (SAS) and Starlink / Boring / X Campus.
This is an opportunity to acquire a renovated, income-producing downtown asset with character, functionality, and strategic positioning in one of Central Texas’ emerging investment markets.
Contact for:
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Investment highlights
Fully leased mixed-use investment opportunity in Historic Downtown Elgin
2,314 SF total improvements featuring:
- 1,008 SF retail storefront
- 1,306 SF residential apartment (2 bed / 1 bath)
Stabilized dual-income asset with one commercial tenant and one residential tenant in place
Current in-place income producing
Below-market leases provide future upside potential through rental increases and lease repositioning
Extensive renovation completed in 2016 including:
- Electrical wiring
- Plumbing systems
- Interior improvements
New roof installed October 2021
Located along the highly visible North Main Street corridor in Downtown Elgin
Positioned within the rapidly expanding Central Texas growth corridor east of Austin
Ideal opportunity for:
- 1031 exchange buyers
- Long-term appreciation investors
- Mixed-use portfolio investors
- Owner-users seeking supplemental income
Walkable downtown location surrounded by restaurants, retail, and local businesses
Low-maintenance, turnkey asset with strong historic downtown character and modernized infrastructure. Minutes to airport, Tesla, State Capital, Samsung (SAS) and Starlink / Boring / X Campus.
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