Flex Space with Locker
For Sale
$1,650,000
106a Fm 1376, Boerne, TX 78006
Adaptable commercial building with divided interiors, full-service amenities, and infrastructure suited to fitness, events, or other commercial operations.
Property Size4,842 SF
Price / SF$340.77
Days on Market75
Property Features for 106a Fm 1376
General Information
Standard status
Active
Size
4,842 SF
Total Parking Spaces
18
Property subtype
Commercial
Zoning
COMMERCIAL
Additional Details
Clear Span
Yes
Taxes and HOA fees
Annual Taxes
$18,082
Amenities
full kitchen
laundry facilities
locker rooms
private showers
built-in lockers
security system
water catchment system
Building Details
Building Size
4,842 SF
Year Built
2017
Buildings
1
Units
1
Construction
ICF
Listing Agency:
Legacy Broker Group
(830) 331-4000
Listed By:
Frederick Price
(830) 331-4000
Source:
Southtexasrealtyservices
Added: Jun 16
Changed: Aug 29
Last Checked: Aug 29 at 7:22PM
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 Legacy Broker Group
Investment Insights
Based on property information with market context.
This 4,842-square-foot flex space was built in 2017 with insulated concrete form (ICF) walls, a clear-span interior, polished concrete floors, and LED lighting. Two main entrances and folding divider doors support separated areas within the building. The property has previously operated as both a fitness facility and an event center.
Operational features include a full kitchen, dedicated laundry facilities, separate men's and women's locker rooms, private showers, built-in lockers, and air conditioning throughout. Security and technology systems are integrated into the building, which also includes a 50-gallon hot water tank, shared well access, and a water catchment system. The site provides dedicated parking and is zoned COMMERCIAL.
Operational features include a full kitchen, dedicated laundry facilities, separate men's and women's locker rooms, private showers, built-in lockers, and air conditioning throughout. Security and technology systems are integrated into the building, which also includes a 50-gallon hot water tank, shared well access, and a water catchment system. The site provides dedicated parking and is zoned COMMERCIAL.
Key Highlights
- 4,842 SF flex building on a 2017 construction date
- ICF wall construction with a clear‑span, column‑free interior
- Two main entrances and folding divider doors for separated areas
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
$50,986
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
3.09%
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%
$1,019,720
$1.0M
Cap Rate 7%
$728,371
$728.4K
Cap Rate 9%
$566,511
$566.5K
Market Conditions
NOI Build-Up for 4,842 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
$87.2K $18.00/SF
− Vacancy
−$8.7K −$1.80/SF
EGI
$78.4K $16.20/SF
− OpEx
−$27.5K −$5.67/SF
NOI
$51.0K $10.53/SF
Area
Kendall County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,019,720
Cap Rate 7%
$728,371
Cap Rate 9%
$566,511
Alternative Uses
Best Use
Flex RnD
$728.4K
$637.3K – $849.8K
NOI $50,986 @ 7.0% cap · market cap 3.09%
Second Best
Industrial
$414.0K
$362.2K – $483.0K
NOI $28,979 @ 7.0% cap · market cap 1.76%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,899 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78006, TX
40,979
Population
16,643
Households
2.5
Avg Household Size
44
Median Age
51%
College-Educated
94%
High-School Grad
345.9 sq mi
ZIP Area
118
Density / Sq Mi
$110,955
Median Household Income
$51,943
Median Earnings
$1,612
Median Rent
$502,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building with divided interiors, full-service amenities, and infrastructure suited to fitness, events, or other commercial operations.
Where is this flex space located?
The property is located at 106a Fm 1376 Boerne, TX.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 4,842 SF flex building on a 2017 construction date; ICF wall construction with a clear‑span, column‑free interior; Two main entrances and folding divider doors for separated areas
