Flex Warehouse Space For
For Sale
Contact for pricing
1034 Canyon Bend Dr, Dripping Springs, TX 78620
Flex/warehouse space with excellent parking available for sale.
Property Size4,800 SF
Lot Size2.09 Acres
Price / SF$281.25
Days on Market784
Property Features for 1034 Canyon Bend Dr
General Information
Standard status
Active
Size
4,800 SF
Class
B
Total Parking Spaces
10
Lot size
2.09 Acres
Property subtype
Industrial
Zoning
F-1
Building Details
Year Built
2003
Buildings
1
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
Stanberry Commercial
(512) 422-5677
Listed By:
Cathy Coneway · License #TX 492342
Source:
Crexi
Added: Jun 30, 2024
Changed: Aug 19
Last Checked: Aug 21 at 7:10PM
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 Stanberry Commercial
Investment Insights
Based on property information with market context.
Building C, situated on 2.09 acres of condominium land alongside two other warehouse buildings, offers 4,800 square feet of flex/warehouse space. The property provides ample parking. The building is divided into two 2,400-square-foot spaces. C-1 is leased until August 31, 2028, while C-2 is currently vacant. Side C-1 features 2,400 square feet, including 620 square feet of air-conditioned office space with a reception area, break area, restroom, and one private office. The 1,780-square-foot warehouse portion of C-1 is insulated but not air-conditioned, and it includes two overhead doors and one service door. Side C-2, also 2,400 square feet, is insulated and contains one restroom, windows on two sides, two overhead doors, and one service door. The seller is open to considering owner financing, depending on the offer, down payment, and credit.
Key Highlights
- 4800 SF flex/warehouse space on 2.09 acres with excellent parking.
- One side (2400 SF) is currently vacant and ready for immediate occupancy or lease.
- Potential for owner financing depending on offer, down payment, and credit.
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
$42,947
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
3.18%
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%
$858,940
$858.9K
Cap Rate 7%
$613,529
$613.5K
Cap Rate 9%
$477,189
$477.2K
Market Conditions
NOI Build-Up for 4,800 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
$71.4K $14.88/SF
− Vacancy
−$10.1K −$2.10/SF
EGI
$61.4K $12.78/SF
− OpEx
−$18.4K −$3.83/SF
NOI
$42.9K $8.95/SF
Area
Hays County, TX
Vacancy
14.10%
Lease Rate
$14.88 /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%
$858,940
Cap Rate 7%
$613,529
Cap Rate 9%
$477,189
Alternative Uses
Best Use
Industrial
$613.5K
$536.8K – $715.8K
NOI $42,947 @ 7.0% cap · market cap 3.18%
Second Best
Flex RnD
$569.7K
$498.5K – $664.7K
NOI $39,880 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$2.01M
$1.76M – $2.34M
NOI $140,456 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78620, TX
20,493
Population
7,929
Households
2.6
Avg Household Size
43
Median Age
62%
College-Educated
97%
High-School Grad
175.6 sq mi
ZIP Area
117
Density / Sq Mi
$146,551
Median Household Income
$58,583
Median Earnings
$1,674
Median Rent
$624,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex/warehouse space with excellent parking available for sale.
Where is this flex space located?
The property is located at 1034 Canyon Bend Dr Dripping Springs, TX.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 4800 SF flex/warehouse space on 2.09 acres with excellent parking.; One side (2400 SF) is currently vacant and ready for immediate occupancy or lease.; Potential for owner financing depending on offer, down payment, and credit.
