Retail Strip
For Sale
$489,999
1-10877 Park Road 37, Lakehills, TX 78063
Existing tenant lease supports continued occupancy or a mixed owner-user and rental strategy.
Property Size2,150 SF
Price / SF$227.91
Days on Market58
Property Features for 1-10877 Park Road 37
General Information
Standard status
Active
Size
2,150 SF
Listing Agency:
Home Team of America
(210) 490-8000
Listed By:
Robert Pritchett
(832) 257-3461
Source:
Exprealty
Added: Aug 12
Changed: Oct 5
Last Checked: Oct 7 at 1:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Home Team of America
Investment Insights
Based on property information with market context.
This retail strip center offers a flexible commercial configuration for an owner-user or an investor. The property information identifies potential office, retail, and restaurant applications, allowing the space to support multiple business formats without limiting the description to a single use.
An existing tenant has a current lease that remains in place, providing established occupancy at the property. The center is located at 1-10877 Park Road 37 in Lakehills, Texas.
An existing tenant has a current lease that remains in place, providing established occupancy at the property. The center is located at 1-10877 Park Road 37 in Lakehills, Texas.
Key Highlights
- Existing tenant has a current lease in place
- Identified use options include office, retail, and restaurant applications
- Located at 1‑10877 Park Road 37 in Lakehills, TX
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,780
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$575,600
$575.6K
Cap Rate 7%
$411,143
$411.1K
Cap Rate 9%
$319,778
$319.8K
Market Conditions
NOI Build-Up for 2,150 SF
Gross rent
$42.8K $19.92/SF
− Vacancy
−$1.7K −$0.80/SF
EGI
$41.1K $19.12/SF
− OpEx
−$12.3K −$5.74/SF
NOI
$28.8K $13.39/SF
Area
Bandera County, TX
Vacancy
4.00%
Lease Rate
$19.92 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$575,600
Cap Rate 7%
$411,143
Cap Rate 9%
$319,778
Alternative Uses
Best Use
Retail
$411.1K
$359.8K – $479.7K
NOI $28,780 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$548.4K
$479.9K – $639.8K
NOI $38,390 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 78063, TX
9,302
Population
4,947
Households
1.9
Avg Household Size
52
Median Age
28%
College-Educated
93%
High-School Grad
119.3 sq mi
ZIP Area
78
Density / Sq Mi
$79,066
Median Household Income
$38,340
Median Earnings
$964
Median Rent
$265,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Existing tenant lease supports continued occupancy or a mixed owner-user and rental strategy.
Where is this strip mall located?
The property is located at 1-10877 Park Road 37 Lakehills, TX.
What is the asking price?
The asking price for this property is $489,999.
What are key features of this property?
This property features: Existing tenant has a current lease in place; Identified use options include office, retail, and restaurant applications; Located at 1‑10877 Park Road 37 in Lakehills, TX
