Commercial Land with Existing
New
For Sale
$1,549,000
110 Lemens Ave, Hutto, TX 78634
Existing improvements may support office use, with room for additional buildings or a storage yard.
Property Size1,968 SF
Days on Market5
Property Features for 110 Lemens Ave
General Information
Standard status
Active
Size
1,968 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,343
Building Details
Building Size
1,968 SF
Year Built
1997
Listing Agency:
(512) 773-7365
Listed By:
James Haugen · License #0709812
(512) 773-7365
Source:
Elliman
Added: Aug 8
Changed: Aug 12
Last Checked: Aug 12 at 8:03AM
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 James Haugen
Investment Insights
Based on property information with market context.
This 3.4-acre commercial land property includes an existing home that could be adapted for office use. The site also provides space for additional buildings or a storage yard, while the source information indicates no use restrictions. The property was built in 1997.
Access to SH 130 Toll road and Limmer Loop is within a few hundred feet. The site may suit a local business, last-mile delivery operation, warehousing, or storage use based on the stated property potential. WalkScore is 1 and bikeScore is 25, indicating a car-dependent, somewhat bikeable setting.
Access to SH 130 Toll road and Limmer Loop is within a few hundred feet. The site may suit a local business, last-mile delivery operation, warehousing, or storage use based on the stated property potential. WalkScore is 1 and bikeScore is 25, indicating a car-dependent, somewhat bikeable setting.
Key Highlights
- 3.4‑acre commercial land parcel
- Existing home may be used as an office
- Space for additional buildings or a storage yard
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
$46,928
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
3.03%
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%
$938,560
$938.6K
Cap Rate 7%
$670,400
$670.4K
Cap Rate 9%
$521,422
$521.4K
Market Conditions
NOI Build-Up for 1,968 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
$82.7K $42.00/SF
− Vacancy
−$20.1K −$10.21/SF
EGI
$62.6K $31.79/SF
− OpEx
−$15.6K −$7.95/SF
NOI
$46.9K $23.85/SF
Area
Williamson County, TX
Vacancy
24.30%
Lease Rate
$42.00 /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%
$938,560
Cap Rate 7%
$670,400
Cap Rate 9%
$521,422
Alternative Uses
Best Use
Office B
$670.4K
$586.6K – $782.1K
NOI $46,928 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$822.7K
$719.8K – $959.8K
NOI $57,587 @ 7.0% cap · market cap 3.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
Demographics for 78634, TX
37,951
Population
15,322
Households
2.5
Avg Household Size
33
Median Age
35%
College-Educated
93%
High-School Grad
56.4 sq mi
ZIP Area
673
Density / Sq Mi
$111,227
Median Household Income
$52,649
Median Earnings
$2,024
Median Rent
$334,200
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?
Commercial land - Existing improvements may support office use, with room for additional buildings or a storage yard.
Where is this commercial land located?
The property is located at 110 Lemens Ave Hutto, TX.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: 3.4‑acre commercial land parcel; Existing home may be used as an office; Space for additional buildings or a storage yard
