Flex Space with
New
For Sale
$750,000
1415 S Commerce St, Lockhart, TX 78644
Workshop and climate-controlled office space provide a practical commercial configuration.
Property Size2,400 SF
Lot Size2.00 Acres
Price / SF$312.50
Days on Market3
Property Features for 1415 S Commerce St
General Information
Standard status
Active
Size
2,400 SF
Lot size
2.00 Acres
Additional Details
Road Access
Yes
Building Details
Year Built
1967
Listing Agency:
Capital Investments of Austin
Listed By:
Michael Valdez
(512) 566-2762
Source:
Olverabolton
Added: Sep 12
Last Checked: Sep 13 at 3:19PM
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 Capital Investments of Austin
Investment Insights
Based on property information with market context.
This flex space includes a 2,400-square-foot workshop alongside dedicated office area with climate control. Three bay doors provide direct access to the workshop, while the property occupies a 2-acre lot. Built in 1967, the building offers a combination of work and office areas within one commercial property.
Located at 1415 S Commerce St in Lockhart, Texas, the property is available for immediate occupancy. Its workshop, office component, and large site create a straightforward configuration for commercial operations requiring both functional work space and enclosed administrative area.
Located at 1415 S Commerce St in Lockhart, Texas, the property is available for immediate occupancy. Its workshop, office component, and large site create a straightforward configuration for commercial operations requiring both functional work space and enclosed administrative area.
Key Highlights
- 2‑acre lot with 2,400‑square‑foot flex property
- Workshop includes three bay doors
- Dedicated climate‑controlled 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
$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
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
301
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Workshop and climate-controlled office space provide a practical commercial configuration.
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 lot with 2,400‑square‑foot flex property; Workshop includes three bay doors; Dedicated climate‑controlled office space
