Flex Space with High-Clearance
For Sale
$1,299,900
180 Spring Mountain Drive Unit 180, Canyon Lake, TX 78133
Metal commercial building combines dedicated offices with warehouse functionality and on-site container storage.
Property Size8,440 SF
Lot Size1.58 Acres
Price / SF$154.02
Days on Market625
Property Features for 180 Spring Mountain Drive Unit 180
General Information
Standard status
Active
Size
8,440 SF
Lot size
1.58 Acres
Property subtype
General Commercial
Additional Details
Outdoor Storage
Yes
Amenities
Central Air, Electric
3
Concrete
Metal
No Parking, Garage, Oversized Parking.
Asphalt, Paved Road.
Building Details
Year Built
2008
Buildings
1
Stories
1
Building Size
8,440 SF
Construction
metal building
Listing Agency:
Anders Pierce Realty, LLC
(512) 757-6224
Listed By:
Matthew Pierce · License #0565292
(512) 757-6224
Source:
Xome
Added: Dec 13, 2024
Changed: Aug 30
Last Checked: Aug 30 at 3:34AM
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 Anders Pierce Realty, LLC
Investment Insights
Based on property information with market context.
Built in 2008, this 8,440-square-foot metal flex building occupies 1.579 acres and combines administrative space with warehouse-oriented improvements. The interior includes six office spaces, concrete flooring, and nine high-clearance overhead doors. Central air with electric service supports the building’s office and operational areas.
The property also includes exterior yard space and on-site shipping container storage. Asphalt surfaces and a paved road provide site access, while the building’s configuration accommodates businesses requiring both office space and loading-oriented functionality.
The property also includes exterior yard space and on-site shipping container storage. Asphalt surfaces and a paved road provide site access, while the building’s configuration accommodates businesses requiring both office space and loading-oriented functionality.
Key Highlights
- 8,440‑square‑foot metal flex building on 1.579 acres
- Six office spaces for administrative and support functions
- Nine high‑clearance overhead doors
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
$88,873
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
6.84%
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%
$1,777,460
$1.8M
Cap Rate 7%
$1,269,614
$1.3M
Cap Rate 9%
$987,478
$987.5K
Market Conditions
NOI Build-Up for 8,440 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
$151.9K $18.00/SF
− Vacancy
−$15.2K −$1.80/SF
EGI
$136.7K $16.20/SF
− OpEx
−$47.9K −$5.67/SF
NOI
$88.9K $10.53/SF
Area
Comal County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,777,460
Cap Rate 7%
$1,269,614
Cap Rate 9%
$987,478
Alternative Uses
Best Use
Flex RnD
$1.27M
$1.11M – $1.48M
NOI $88,873 @ 7.0% cap · market cap 6.84%
Second Best
Warehouse
$876.3K
$766.7K – $1.02M
NOI $61,338 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,703 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
Well-served
Demand for This Use
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
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 - Metal commercial building combines dedicated offices with warehouse functionality and on-site container storage.
Where is this flex space located?
The property is located at 180 Spring Mountain Drive Unit 180 Canyon Lake, TX.
What is the asking price?
The asking price for this property is $1,299,900.
What are key features of this property?
This property features: 8,440‑square‑foot metal flex building on 1.579 acres; Six office spaces for administrative and support functions; Nine high‑clearance overhead doors
