Mixed-Use Retail and Office
For Sale
$3,750,000
110 Market Ave, Boerne, TX 78006
C3-zoned shell space occupies the corner of Market Avenue and North Main Street.
Property Size13,813 SF
Days on Market193
Property Features for 110 Market Ave
General Information
Standard status
Active
Size
13,813 SF
Class
B
Property subtype
Multi Tenant Office
Building Details
Building Size
13,813 SF
Year Built
2021
Properties For Sale
at 110 Market Ave Contact us- Size
- 13,813 SF
- Lease Type
- NNN
Retail / Office For Lease in Boerne Texas
Listing Agency:
Keller Williams Boerne
(210) 213-6886
Listed By:
Glen Boehm · License #550654
(210) 213-6886
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 4:11AM
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 Keller Williams Boerne
Investment Insights
Based on property information with market context.
Built in 2021, this mixed-use commercial building combines retail and office space within approximately 13,800+/- square feet. The improvements are in shell condition, providing a first-generation interior ready for build-out. Construction plans have received approval from the City of Boerne.
The property is located at 110 Market Ave in Boerne, at the corner of Market Avenue and North Main Street. Its position along North Main Street places the building near downtown Boerne and provides a prominent corner setting for future retail or office occupancy.
The property is located at 110 Market Ave in Boerne, at the corner of Market Avenue and North Main Street. Its position along North Main Street places the building near downtown Boerne and provides a prominent corner setting for future retail or office occupancy.
Key Highlights
- 13,800+/- retail and office building
- C3 zoning
- Built in 2021
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
$188,256
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
5.02%
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%
$3,765,120
$3.8M
Cap Rate 7%
$2,689,371
$2.7M
Cap Rate 9%
$2,091,733
$2.1M
Market Conditions
NOI Build-Up for 13,813 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
$305.0K $22.08/SF
− Vacancy
−$54.0K −$3.91/SF
EGI
$251.0K $18.17/SF
− OpEx
−$62.8K −$4.54/SF
NOI
$188.3K $13.63/SF
Area
Kendall County, TX
Vacancy
17.70%
Lease Rate
$22.08 /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%
$3,765,120
Cap Rate 7%
$2,689,371
Cap Rate 9%
$2,091,733
Alternative Uses
Best Use
Office B
$2.69M
$2.35M – $3.14M
NOI $188,256 @ 7.0% cap · market cap 5.02%
Second Best
Retail
$2.64M
$2.31M – $3.08M
NOI $184,904 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$3.62M
$3.17M – $4.23M
NOI $253,607 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Explore this area
Business Placement
Demographics for 78006, TX
40,979
Population
16,643
Households
2.5
Avg Household Size
44
Median Age
51%
College-Educated
94%
High-School Grad
345.9 sq mi
ZIP Area
118
Density / Sq Mi
$110,955
Median Household Income
$51,943
Median Earnings
$1,612
Median Rent
$502,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - C3-zoned shell space occupies the corner of Market Avenue and North Main Street.
Where is this mixed-use property located?
The property is located at 110 Market Ave Boerne, TX.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 13,800+/- retail and office building; C3 zoning; Built in 2021
