Multi-Tenant Retail
For Sale
Contact for pricing
1150 Canyon Creek Dr, Temple, TX 76502
Retail destination with leased restaurant suites, four food truck spaces, and an on-site commissary.
Property Size3,591 SF
Price / SF$306.32
Days on Market24
Property Features for 1150 Canyon Creek Dr
General Information
Standard status
Active
Size
3,591 SF
Property subtype
Retail, Hospitality
Investment Type
Stabilized
Building Details
Units
6
Tenancy
Multi
Listing Agency:
First Texas
(254) 947-5577
Listed By:
Ryan Hodge · License #0470284
Source:
Crexi
Added: Aug 6
Changed: Aug 29
Last Checked: Aug 29 at 3:00PM
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 First Texas
Investment Insights
Based on property information with market context.
Canyon Creek Plaza is a multi-tenant retail property at 1150 Canyon Creek Dr in Temple, Texas. The center includes leased restaurant suites along with four food truck spaces and a commissary, combining conventional retail occupancy with an active food-service component. Recent improvements have been completed at the property.
The center is positioned just off S. 31st Street within a commercial corridor surrounded by retail, medical, educational, and residential development. Nearby destinations identified for the property include Baylor Scott & White Health, the VA Medical Center, Temple College, Texas A&M College of Medicine, Temple Mall, H-E-B, Sam’s Club, Walmart, and other national retailers. The property is described as having stabilized occupancy and diversified revenue sources.
The center is positioned just off S. 31st Street within a commercial corridor surrounded by retail, medical, educational, and residential development. Nearby destinations identified for the property include Baylor Scott & White Health, the VA Medical Center, Temple College, Texas A&M College of Medicine, Temple Mall, H-E-B, Sam’s Club, Walmart, and other national retailers. The property is described as having stabilized occupancy and diversified revenue sources.
Key Highlights
- Leased restaurant suites within a multi‑tenant retail center
- Four food truck spaces with an on‑site commissary
- Recent property improvements completed
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
$63,526
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
5.78%
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%
$1,270,520
$1.3M
Cap Rate 7%
$907,514
$907.5K
Cap Rate 9%
$705,844
$705.8K
Market Conditions
NOI Build-Up for 3,591 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
$89.6K $24.96/SF
− Vacancy
−$4.9K −$1.37/SF
EGI
$84.7K $23.59/SF
− OpEx
−$21.2K −$5.90/SF
NOI
$63.5K $17.69/SF
Area
Bell County, TX
Vacancy
5.50%
Lease Rate
$24.96 /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%
$1,270,520
Cap Rate 7%
$907,514
Cap Rate 9%
$705,844
Alternative Uses
Best Use
Specialty Retail
$907.5K
$794.1K – $1.06M
NOI $63,526 @ 7.0% cap · market cap 5.78%
Second Best
Retail
$694.9K
$608.0K – $810.7K
NOI $48,641 @ 7.0% cap · market cap 4.42%
Theoretical Best
Multifamily LT 5
$40.09M
$35.08M – $46.77M
NOI $2,806,194 @ 7.0% cap · market cap 255.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76502, TX
47,297
Population
19,497
Households
2.4
Avg Household Size
37
Median Age
37%
College-Educated
91%
High-School Grad
58.3 sq mi
ZIP Area
811
Density / Sq Mi
$80,504
Median Household Income
$45,332
Median Earnings
$1,411
Median Rent
$252,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Coin Cloud Bitcoin ATM — 1710 Canyon Creek Dr #a, Temple, TX 76502
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail destination with leased restaurant suites, four food truck spaces, and an on-site commissary.
Where is this shopping center located?
The property is located at 1150 Canyon Creek Dr Temple, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Leased restaurant suites within a multi‑tenant retail center; Four food truck spaces with an on‑site commissary; Recent property improvements completed
