Retail Strip
For Sale
$489,999
10877 Park Road 37 Unit 1, Lakehills, TX 78063
Existing occupancy is supported by a current lease with the tenant.
Property Size2,150 SF
Price / SF$227.91
Days on Market52
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Property Features for 10877 Park Road 37 Unit 1
General Information
Standard status
Active
Size
2,150 SF
Building Details
Year Built
1995
Tenancy
Multi
Abandoned
No
Listing Agency:
Home Team of America
Listed By:
Robert Pritchett
(832) 257-3461
Source:
Thebranchinc
Added: Aug 25
Changed: Oct 5
Last Checked: Oct 7 at 4:05PM
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 was built in 1995 and is currently occupied by a tenant with a lease in place. The property is identified as suitable for retail, office, and restaurant uses, subject to applicable requirements.
The asset is located at 10877 Park Road 37 Unit 1 in Lakehills, Texas. The current lease is to be honored, providing an existing tenancy arrangement for the next owner.
The asset is located at 10877 Park Road 37 Unit 1 in Lakehills, Texas. The current lease is to be honored, providing an existing tenancy arrangement for the next owner.
Key Highlights
- Retail strip center built in 1995
- Current tenant has a lease in place
- Identified for retail, office, and restaurant uses
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
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
Frequently Asked Questions
What type of property is this?
Strip mall - Existing occupancy is supported by a current lease with the tenant.
Where is this strip mall located?
The property is located at 10877 Park Road 37 Unit 1 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: Retail strip center built in 1995; Current tenant has a lease in place; Identified for retail, office, and restaurant uses
