Downtown Office-Retail
For Sale
Contact for pricing
115 Oak Park Drive, Boerne, TX 78006
Two-building office and retail setup with reception areas, private offices, and ADA-compliant restroom on C-1 zoned land.
Property Size1,800 SF
Lot Size0.43 Acres
Price / SF$444.44
Days on Market16
Property Features for 115 Oak Park Drive
General Information
Standard status
Active
Size
1,800 SF
Class
B
Total Parking Spaces
6
Lot size
0.43 Acres
Property subtype
Retail, Office
Zoning
C-1
Investment Type
Owner/User
Building Details
Year Built
1965
Buildings
2
Units
2
Listing Agency:
Boehm Commercial Group
(210) 696-9996
Listed By:
Glen Boehm, CCIM · License #TX 550654
Source:
Crexi
Added: Jul 26
Changed: Aug 8
Last Checked: Aug 9 at 1:26PM
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 Boehm Commercial Group
Investment Insights
Based on property information with market context.
Located at 115 Oak Park Drive, this C-1 zoned property offers an approximately 1,800+/- SF office/retail opportunity built across two separate structures. Building 1 includes a reception area, three private offices, a full kitchen, and a full restroom with a shower plus washer and dryer. Building 2 contains a reception/work area, a private office, and an ADA-compliant restroom, creating a flexible configuration for multiple workspaces.
A dry storage building at the rear of the property provides additional space for equipment or inventory. The seller reports the roof was replaced within the past two years.
The property is positioned in downtown Boerne, with Main Street shopping, dining, and local businesses described as just minutes away.
A dry storage building at the rear of the property provides additional space for equipment or inventory. The seller reports the roof was replaced within the past two years.
The property is positioned in downtown Boerne, with Main Street shopping, dining, and local businesses described as just minutes away.
Key Highlights
- Two‑building office/retail property in downtown Boerne with 1,800+/- SF total
- 0.43+/- acre lot with C‑1 zoning
- Building 1 (1,175+/- SF) includes reception, 3 private offices, full kitchen, and restroom with shower plus washer/dryer
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
$24,532
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
3.07%
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%
$490,640
$490.6K
Cap Rate 7%
$350,457
$350.5K
Cap Rate 9%
$272,578
$272.6K
Market Conditions
NOI Build-Up for 1,800 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
$39.7K $22.08/SF
− Vacancy
−$7.0K −$3.91/SF
EGI
$32.7K $18.17/SF
− OpEx
−$8.2K −$4.54/SF
NOI
$24.5K $13.63/SF
Area
Kendall County, TX
Vacancy
17.70%
Lease Rate
$22.08 /SF/Yr
Expense Ratio
25.00%
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%
$490,640
Cap Rate 7%
$350,457
Cap Rate 9%
$272,578
Alternative Uses
Best Use
Office B
$350.5K
$306.7K – $408.9K
NOI $24,532 @ 7.0% cap · market cap 3.07%
Second Best
Retail
$344.2K
$301.2K – $401.6K
NOI $24,095 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$472.1K
$413.1K – $550.8K
NOI $33,048 @ 7.0% cap · market cap 4.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,201
Businesses Nearby
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two-building office and retail setup with reception areas, private offices, and ADA-compliant restroom on C-1 zoned land.
Where is this office units located?
The property is located at 115 Oak Park Drive Boerne, TX.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Two‑building office/retail property in downtown Boerne with 1,800+/- SF total; 0.43+/- acre lot with C‑1 zoning; Building 1 (1,175+/- SF) includes reception, 3 private offices, full kitchen, and restroom with shower plus washer/dryer
