Canyon Lake Mixed-Use
For Sale
$999,000
5433 Fm 2673, Canyon Lake, TX 78133
2.6-acre commercial property with self-storage and development parcel.
Property Size7,982 SF
Lot Size2.60 Acres
Days on Market140
Property Features for 5433 Fm 2673
General Information
Standard status
Active
Size
7,982 SF
Lot size
2.60 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,340
Building Details
Building Size
7,982 SF
Year Built
1980
Listing Agency:
Windham Rose Realty
Listed By:
Trent M. Babb · License #0685430
(512) 710-9072
Source:
Elliman
Added: Apr 24
Changed: Sep 7
Last Checked: Sep 10 at 9:51AM
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 Windham Rose Realty
Investment Insights
Based on property information with market context.
This 2.6-acre commercial property in Canyon Lake, Texas, presents a mixed-use development opportunity. It includes an income-producing 49-unit self-storage facility and a 1.17-acre development parcel. The property is located on Island View Road, which serves as the access route to two lake peninsulas. This location offers a captive market opportunity for potential development as a C-Store or gas station. The property has a walk score of 10, indicating it is car-dependent, and a bike score of 1, indicating it is somewhat bikeable.
Key Highlights
- Income‑producing 49‑unit self‑storage facility already in place
- Includes a 1.17‑acre development parcel
- Strategic location on Island View Road, the exclusive access route to two lake peninsulas
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
$74,022
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
7.41%
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%
$1,480,440
$1.5M
Cap Rate 7%
$1,057,457
$1.1M
Cap Rate 9%
$822,467
$822.5K
Market Conditions
NOI Build-Up for 7,982 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
$114.9K $14.40/SF
− Vacancy
−$9.2K −$1.15/SF
EGI
$105.7K $13.25/SF
− OpEx
−$31.7K −$3.97/SF
NOI
$74.0K $9.27/SF
Area
Comal County, TX
Vacancy
8.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,480,440
Cap Rate 7%
$1,057,457
Cap Rate 9%
$822,467
Alternative Uses
Best Use
Specialty Retail
$1.64M
$1.43M – $1.91M
NOI $114,481 @ 7.0% cap · market cap 11.46%
Second Best
Retail
$1.53M
$1.34M – $1.78M
NOI $106,849 @ 7.0% cap · market cap 10.70%
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,525 @ 7.0% cap · market cap 14.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 78133, TX
20,787
Population
11,208
Households
1.9
Avg Household Size
52
Median Age
33%
College-Educated
94%
High-School Grad
75.5 sq mi
ZIP Area
275
Density / Sq Mi
$80,777
Median Household Income
$45,470
Median Earnings
$1,236
Median Rent
$300,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Self storage facility - 2.6-acre commercial property with self-storage and development parcel.
Where is this self storage facility located?
The property is located at 5433 Fm 2673 Canyon Lake, TX.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Income‑producing 49‑unit self‑storage facility already in place; Includes a 1.17‑acre development parcel; Strategic location on Island View Road, the exclusive access route to two lake peninsulas
