Ask Chip Bubela
FLATONIA CITY HOSPITAL & OPERA HOUSE - Historic Mixed-Use Investment & Owner-User Opportunity
A recorded Texas historic landmark with income in place, flexible commercial space, and a distinctive downtown presence.
A rare downtown asset with multiple paths forward
Historic character, existing residential income, and owner-user or lease-up flexibility in one 8,330-square-foot property.
Investment highlights
Four occupied second-floor apartments: two 2-bedroom/1-bath units and two 1-bedroom/1-bath units.
First-floor east-side 2-bedroom flex apartment currently produces $1,000 per month; the occupant has announced a planned September 2026 move.
Two ground-floor storefronts plus rear flex space support retail, office, studio, service, hospitality, or residential concepts, subject to approvals.
Unit 2 has access to adjacent second-floor office space and may offer a path to a third bedroom, subject to measurement, code, permitting, and buyer verification.
Recorded Texas Historic Landmark designation and an authentic story as Flatonia's former city hospital and opera house.
Private offering at approximately $132.05 per building square foot.
Existing rent provides an income foundation while the commercial and flex areas create the principal repositioning opportunity.
Buyer underwriting notes
Four upstairs apartments are currently occupied. Full leases or occupancy agreements, deposits, payment history, utility responsibility, and transfer terms should be reviewed during diligence.
The first-floor two-bedroom tenant has announced a planned September 2026 move, creating an upcoming lease-up or owner-user decision point.
Quoted figures are scheduled gross rent. They exclude vacancy, concessions, taxes, insurance, utilities, repairs, reserves, management, and other operating expenses.
Flexible storefront, residential, and service space
Potential business plans
Income expansion: lease the storefronts and rear flex areas while retaining the residential units.
Owner-user strategy: occupy one commercial space and use in-place residential rent to offset ownership costs.
Residential optimization: re-lease the first-floor two-bedroom unit after the announced move and evaluate Unit 2's office-access expansion.
Historic adaptive reuse: explore hospitality, food and beverage, professional, creative, event, or community-oriented concepts consistent with applicable approvals.
Long-term preservation play: steward a scarce downtown landmark while improving the income mix over time.
Historic Significance: Completed in 1897, the building first served the medical needs of a growing railroad town. Around 1910, the second floor became Flatonia's opera house. Recorded landmark history notes later uses including a drugstore, chicken hatchery, skating rink, and cafe.
Directions:
From Hwy 90 in Flatonia, take Hwy 95 south, take first left on W South Main St. Property will be on right before S Penn St
Showing Instructions:
Please contact Broker, Chip Bubela at 979-743-4555 with any questions or to schedule a private viewing.
