Jet-Capable Aviation
For Sale
$1,450,000
108 Boerne Stage Airfield, Boerne, TX 78006
Integrated living and workspace areas include a kitchen, bathroom, bedrooms, and a comfortable living room.
Property Size4,960 SF
Days on Market69
Property Features for 108 Boerne Stage Airfield
General Information
Standard status
Active
Size
4,960 SF
Property subtype
Hangar
Amenities
Fully functioning kitchen
Luxurious bathroom
Master bedroom
Spare bedroom or office
Comfortable living room
Interior prepared for expansion
Building Details
Building Size
4,960 SF
Year Built
2012
Listing Agency:
(210) 338-8000
Listed By:
Dale Davis
Source:
Davisequity
Added: Jun 24
Changed: Aug 30
Last Checked: Aug 30 at 5:38PM
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 Dale Davis
Investment Insights
Based on property information with market context.
This aviation property combines a jet-capable hangar with attached residential and office accommodations. The hangar measures 60’ x 16’ 7” and is fitted with a full hydraulic door. Interior improvements include a functioning kitchen, bathroom, master bedroom, additional bedroom or office, and living room.
The property was built in 2012 and includes interior space prepared for future expansion into a game room, office, or lounge. It is located within the Boerne Stage Airfield community in the Texas Hill Country.
The property was built in 2012 and includes interior space prepared for future expansion into a game room, office, or lounge. It is located within the Boerne Stage Airfield community in the Texas Hill Country.
Key Highlights
- Jet‑capable hangar measuring 60’ x 16’ 7”
- Full hydraulic hangar door
- Attached residential and office space
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
$67,599
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
4.66%
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%
$1,351,980
$1.4M
Cap Rate 7%
$965,700
$965.7K
Cap Rate 9%
$751,100
$751.1K
Market Conditions
NOI Build-Up for 4,960 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
$109.5K $22.08/SF
− Vacancy
−$19.4K −$3.91/SF
EGI
$90.1K $18.17/SF
− OpEx
−$22.5K −$4.54/SF
NOI
$67.6K $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%
$1,351,980
Cap Rate 7%
$965,700
Cap Rate 9%
$751,100
Alternative Uses
Best Use
Office B
$965.7K
$845.0K – $1.13M
NOI $67,599 @ 7.0% cap · market cap 4.66%
Second Best
Mixed Use
$935.3K
$818.4K – $1.09M
NOI $65,472 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,066 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
59
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
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Frequently Asked Questions
What type of property is this?
Aviation real estate - Integrated living and workspace areas include a kitchen, bathroom, bedrooms, and a comfortable living room.
Where is this aviation real estate located?
The property is located at 108 Boerne Stage Airfield Boerne, TX.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Jet‑capable hangar measuring 60’ x 16’ 7”; Full hydraulic hangar door; Attached residential and office space
