New Industrial Space in
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12550 South Highway 183, Luling, TX 78648
9,600 SF industrial space on 2.47 acres for sale.
Property Size9,600 SF
Lot Size2.47 Acres
Price / SF$101.56
Days on Market291
Property Features for 12550 South Highway 183
General Information
Standard status
Active
Size
9,600 SF
Class
B
Lot size
2.47 Acres
Property subtype
Industrial
Zoning
NZ
Building Details
Year Built
2023
Listing Agency:
Marcus & Millichap - Austin
(972) 755-5200
Listed By:
Gunnar Vachris · License #823915
Source:
Crexi
Added: Oct 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:37AM
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 Marcus & Millichap - Austin
Investment Insights
Based on property information with market context.
The property at 12500 US Highway 183 South in Luling, Texas, offers approximately 9,600 square feet of shallow-bay industrial space on a 2.47-acre lot. Constructed in 2023, this three-building asset features metal construction and includes six units. Each unit benefits from a 20-foot clear height and individual drive-in doors. Available vacant and in shell condition, the property allows for a customized office space buildout. Situated with frontage on US Highway 183, the location is 43 miles south of Austin, 61 miles northeast of San Antonio, and 147 miles west of Houston. This property is suitable as a lease-up investment or for owner use, particularly for regional distribution and servicing.
Key Highlights
- New construction (2023) shallow‑bay industrial space.
- Located on US Highway 183, providing excellent regional access to Austin, San Antonio and Houston.
- Suitable for lease‑up investment or owner‑user.
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
$85,895
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
8.81%
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%
$1,717,900
$1.7M
Cap Rate 7%
$1,227,071
$1.2M
Cap Rate 9%
$954,389
$954.4K
Market Conditions
NOI Build-Up for 9,600 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
$142.8K $14.88/SF
− Vacancy
−$20.1K −$2.10/SF
EGI
$122.7K $12.78/SF
− OpEx
−$36.8K −$3.83/SF
NOI
$85.9K $8.95/SF
Area
Caldwell County, TX
Vacancy
14.10%
Lease Rate
$14.88 /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%
$1,717,900
Cap Rate 7%
$1,227,071
Cap Rate 9%
$954,389
Alternative Uses
Best Use
Industrial
$1.23M
$1.07M – $1.43M
NOI $85,895 @ 7.0% cap · market cap 8.81%
Second Best
Flex RnD
$1.14M
$997.0K – $1.33M
NOI $79,759 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$4.01M
$3.51M – $4.68M
NOI $280,913 @ 7.0% cap · market cap 28.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78648, TX
8,167
Population
3,563
Households
2.3
Avg Household Size
39
Median Age
11%
College-Educated
75%
High-School Grad
132.9 sq mi
ZIP Area
61
Density / Sq Mi
$56,533
Median Household Income
$30,836
Median Earnings
$1,063
Median Rent
$217,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 9,600 SF industrial space on 2.47 acres for sale.
Where is this flex space located?
The property is located at 12550 South Highway 183 Luling, TX.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: New construction (2023) shallow‑bay industrial space.; Located on US Highway 183, providing excellent regional access to Austin, San Antonio and Houston.; Suitable for lease‑up investment or owner‑user.
