Residential Rental Property with
New
For Sale
$1,590,000
114 state highway 46 #C, Boerne, TX 78006
A varied rental mix is complemented by RV hookups, a pool, and a rentable workshop.
Property Size8,753 SF
Lot Size2.60 Acres
Price / SF$181.65
Days on Market1
Property Features for 114 state highway 46 #C
General Information
Standard status
Active
Size
8,753 SF
Lot size
2.60 Acres
Property subtype
Other - See Remarks
Additional Details
Road Access
Yes
Multifamily Units
9
Tenant in Place
Yes
Amenities
swimming pool
workshop
storage building
Building Details
Year Built
2003
Listing Agency:
RE/MAX North-San Antonio
(210) 695-4850
Listed By:
Rodeana Reynolds · License #514586
(210) 264-4967
Source:
Devorarealty
Added: Oct 31
Last Checked: Oct 31 at 3:16AM
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 RE/MAX North-San Antonio
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Investment Insights
Based on property information with market context.
This residential income property spans approximately 2.6 acres and contains nine rental units totaling about 8,753 square feet. The unit mix includes single-family homes and apartments. On-site improvements also include a rentable 80-by-30-foot cinderblock workshop with overhead doors, a storage building, RV hookups, and a fenced in-ground swimming pool. The buildings have newer roofs, and the property is listed with a 2003 year built.
The property is outside Boerne city limits along State Highway 46 West. Unit-level details, rent rolls, utility information, and typical expenses are available to prospective buyers through the seller.
The property is outside Boerne city limits along State Highway 46 West. Unit-level details, rent rolls, utility information, and typical expenses are available to prospective buyers through the seller.
Key Highlights
- Nine rental units across approximately 2.6 acres, with a mix of single‑family homes and apartments
- Approximately 8,753 square feet of total rental space
- Rentable 80x30 cinderblock workshop with overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,989
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,559,780
$1.6M
Cap Rate 7%
$1,114,129
$1.1M
Cap Rate 9%
$866,544
$866.5K
Market Conditions
NOI Build-Up for 8,753 SF
Gross rent
$157.6K $18.00/SF
− Vacancy
−$15.8K −$1.80/SF
EGI
$141.8K $16.20/SF
− OpEx
−$63.8K −$7.29/SF
NOI
$78.0K $8.91/SF
Area
Kendall County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,559,780
Cap Rate 7%
$1,114,129
Cap Rate 9%
$866,544
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$974.9K – $1.30M
NOI $77,989 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $160,705 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
9
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
29
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Residential income property - A varied rental mix is complemented by RV hookups, a pool, and a rentable workshop.
Where is this residential income property located?
The property is located at 114 state highway 46 #C Boerne, TX.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Nine rental units across approximately 2.6 acres, with a mix of single‑family homes and apartments; Approximately 8,753 square feet of total rental space; Rentable 80x30 cinderblock workshop with overhead doors
