Workshop with Climate-Controlled
For Sale
$750,000
1415 S Commerce St, Lockhart, TX 78644
A 2-acre property combining a workshop with three bay doors and a fully climate-controlled office for straightforward business operations.
Property Size2,400 SF
Lot Size2.00 Acres
Days on Market51
Property Features for 1415 S Commerce St
General Information
Standard status
Active
Size
2,400 SF
Lot size
2.00 Acres
Property subtype
Industrial
Additional Details
Road Access
Yes
Drive-In Doors
3
Building Details
Building Size
2,400 SF
Year Built
1967
Listing Agency:
(512) 566-2762
Listed By:
Michael Valdez
(512) 566-2762
Source:
Elliman
Added: Jun 23
Changed: Aug 10
Last Checked: Aug 12 at 6:39AM
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 Michael Valdez
Investment Insights
Based on property information with market context.
This property is set on a spacious 2-acre lot and includes a large workshop plus dedicated office space. The workshop is designed for practical access with three bay doors, supporting day-to-day loading, unloading, and hands-on work. The office area is fully climate-controlled, providing a comfortable, separate environment for administration, customer-facing needs, or on-site management.
Located on Commerce Street, the property is positioned for tenants and operators who value convenient local access. The listing is noted as available for immediate occupancy, which can reduce downtime for buyers looking to move quickly and start using the space.
With both shop and office components on the same site, the layout suits a range of service, light industrial, and operations-based businesses that need a dedicated working area and an indoor climate-controlled work space. The three-bay door configuration supports flexible vehicle and equipment access, while the separate office helps keep administrative functions distinct from the shop floor. For buyers evaluating an owner-occupied setup or an industrial-style property with office integration, this combination offers a straightforward, ready-to-use arrangement.
Located on Commerce Street, the property is positioned for tenants and operators who value convenient local access. The listing is noted as available for immediate occupancy, which can reduce downtime for buyers looking to move quickly and start using the space.
With both shop and office components on the same site, the layout suits a range of service, light industrial, and operations-based businesses that need a dedicated working area and an indoor climate-controlled work space. The three-bay door configuration supports flexible vehicle and equipment access, while the separate office helps keep administrative functions distinct from the shop floor. For buyers evaluating an owner-occupied setup or an industrial-style property with office integration, this combination offers a straightforward, ready-to-use arrangement.
Key Highlights
- 2‑acre property with a large workshop and dedicated office space for business use
- Workshop includes three bay doors for convenient access and operations
- Office area is fully climate‑controlled
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
$24,163
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
3.22%
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%
$483,260
$483.3K
Cap Rate 7%
$345,186
$345.2K
Cap Rate 9%
$268,478
$268.5K
Market Conditions
NOI Build-Up for 2,400 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
$35.7K $14.88/SF
− Vacancy
−$7.3K −$3.04/SF
EGI
$28.4K $11.84/SF
− OpEx
−$4.3K −$1.78/SF
NOI
$24.2K $10.07/SF
Area
Caldwell County, TX
Vacancy
20.40%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
15.00%
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%
$483,260
Cap Rate 7%
$345,186
Cap Rate 9%
$268,478
Alternative Uses
Best Use
Warehouse
$345.2K
$302.0K – $402.7K
NOI $24,163 @ 7.0% cap · market cap 3.22%
Second Best
Industrial
$306.8K
$268.4K – $357.9K
NOI $21,474 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$1.00M
$877.9K – $1.17M
NOI $70,228 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
715
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78644, TX
20,813
Population
7,660
Households
2.7
Avg Household Size
38
Median Age
19%
College-Educated
87%
High-School Grad
179.9 sq mi
ZIP Area
116
Density / Sq Mi
$72,155
Median Household Income
$40,085
Median Earnings
$1,162
Median Rent
$242,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Budget Catering — 902 Luann Ln, Lockhart, TX 78644
Frequently Asked Questions
What type of property is this?
Flex space - A 2-acre property combining a workshop with three bay doors and a fully climate-controlled office for straightforward business operations.
Where is this flex space located?
The property is located at 1415 S Commerce St Lockhart, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2‑acre property with a large workshop and dedicated office space for business use; Workshop includes three bay doors for convenient access and operations; Office area is fully climate‑controlled
