Refrigerated Cold Storage
For Sale
$1,500,000
568 Carter, Hondo, TX 78861
COMMERCIAL/INDUSTRIAL, Hondo, TX
Property Size23,050 SF
Lot Size4.00 Acres
Price / SF$65.08
Days on Market65
Property Features for 568 Carter
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
23,050 SF
Lot size
4.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
4.0 acres out of S156, A359 & S157, A360, City of Hondo, Medina Co., TX
Legal Description
4.0 acres out of S156, A359 & S157, A360, City of Hondo, Medina Co., TX
Utilities
Sewer type
Unknown
Cooling system
Electric, Central Air
Building Details
Floors in Building
1
Flooring type
Concrete, Tile
Building materials
Metal Fabricated
Roof type
Metal
Listing Agency:
VAL VERDE REALTY
Listed By:
James Robert Mcbee · License #0373143
(830) 703-6454
Added: Jul 10
Changed: Sep 8
Last Checked: Sep 12 at 3:06AM
MLS# 207554
Copyright © 2026 Del Rio Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This refrigerated cold storage facility spans three buildings on a 4-acre, perimeter-fenced tract. The primary warehouse contains approximately 14,800 square feet and was built in 1986, with expansions completed in 2004 and 2020. More than 10,000 square feet is insulated and refrigerated, with capacity of approximately 17 tons. The property also includes a 1,600-square-foot freestanding office constructed in 2008 and a 6,650-square-foot equipment shed completed in 2022.
A central yard and parking area serve the improvements, with a loading well at the warehouse. Access is controlled through a gated keypad entry. The former beer distributorship is located in Hondo, Medina County, approximately 45 minutes from San Antonio and two hours from Del Rio. Construction includes metal fabrication, concrete and tile flooring, central air, electric cooling, and metal roofing.
A central yard and parking area serve the improvements, with a loading well at the warehouse. Access is controlled through a gated keypad entry. The former beer distributorship is located in Hondo, Medina County, approximately 45 minutes from San Antonio and two hours from Del Rio. Construction includes metal fabrication, concrete and tile flooring, central air, electric cooling, and metal roofing.
Key Highlights
- 14,800+/- SF warehouse with 10,000+/- SF insulated and refrigerated space
- Refrigeration capacity of 17+/- tons
- Three‑building facility totaling 23,050 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$137,954
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,759,080
$2.8M
Cap Rate 7%
$1,970,771
$2.0M
Cap Rate 9%
$1,532,822
$1.5M
Market Conditions
NOI Build-Up for 23,050 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$207.5K $9.00/SF
− Vacancy
−$10.4K −$0.45/SF
EGI
$197.1K $8.55/SF
− OpEx
−$59.1K −$2.56/SF
NOI
$138.0K $5.98/SF
Area
Medina County, TX
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,759,080
Cap Rate 7%
$1,970,771
Cap Rate 9%
$1,532,822
Alternative Uses
Best Use
Office B
$4.49M
$3.93M – $5.24M
NOI $314,146 @ 7.0% cap · market cap 20.94%
Second Best
Warehouse
$2.39M
$2.09M – $2.79M
NOI $167,516 @ 7.0% cap · market cap 11.17%
Theoretical Best
Office A
$5.88M
$5.14M – $6.86M
NOI $411,576 @ 7.0% cap · market cap 27.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 78861, TX
13,298
Population
5,163
Households
2.6
Avg Household Size
39
Median Age
17%
College-Educated
82%
High-School Grad
490.7 sq mi
ZIP Area
27
Density / Sq Mi
$64,491
Median Household Income
$39,711
Median Earnings
$1,131
Median Rent
$210,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Refrigerated & cold storage - Fenced three-building commercial property with insulated warehouse space, separate office, equipment shed, loading well, and gated keypad entry.
Where is this refrigerated & cold storage located?
The property is located at 568 Carter Hondo, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 14,800+/- SF warehouse with 10,000+/- SF insulated and refrigerated space; Refrigeration capacity of 17+/- tons; Three‑building facility totaling 23,050 square feet
