Leander Transitional Land with
For Sale
$875,000
14410 Hero Way W, Leander, TX 78641
2.94 acres with two residences in Leander, Texas.
Property Size2,599 SF
Lot Size2.94 Acres
Price / SF$336.67
Days on Market222
Property Features for 14410 Hero Way W
General Information
Standard status
Active
Size
2,599 SF
Lot size
2.94 Acres
Building Details
Year Built
1998
Listing Agency:
Keller Williams - Lake Travis
Listed By:
Heather Morrison · License #0590194
(512) 940-0565
Source:
Cityviewtx
Added: Mar 26
Changed: Oct 26
Last Checked: Nov 1 at 10:23AM
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 - Lake Travis
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Investment Insights
Based on property information with market context.
Located in the City of Leander, this property features approximately 2.94 acres of transitional land with two residences. The sale includes two tracts. The main residence, built in 1998, is situated on 2.29 acres and offers 2,599 square feet of living space, including 4 bedrooms, 2 baths, and a garage. The second tract, located at 14380 Hero Way W, encompasses 0.64 acres and includes a 2,388 square foot home dating back to 1925, presenting an opportunity for updates. Currently zoned SFR, these lots are identified in Leander’s Future Land Use Map as being in the “Multi-Use Corridor - Priority Corridor”. According to the Leander 2020 Comprehensive Plan, this corridor is intended for mixed-use areas, such as commercial retail, office, personal service uses, and restaurants, including drive-throughs. Stand-alone individual parcels or larger retail centers may be appropriate. Near highway intersections and adjacent to Employment Mixed Use/Activity Centers, hotels, grocery stores and similar regional uses may also be suitable. Rezoning would be required for a change of use. Potential uses include renting the homes, establishing a small business, creating a live-work space, or holding for long-term appreciation.
Key Highlights
- Two residences included: a 2,599 sq ft home built in 1998 with 4 bedrooms and 2 baths, plus a 2,388 sq ft home dating from 1925.
- +/- 2.94 acre property in the City of Leander.
- Located in an area designated as "Multi‑Use Corridor - Priority Corridor" in Leander's Future Land Use Map, suggesting potential for rezoning and mixed‑use development.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,087
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,740
$701.7K
Cap Rate 7%
$501,243
$501.2K
Cap Rate 9%
$389,856
$389.9K
Market Conditions
NOI Build-Up for 2,599 SF
Gross rent
$62.4K $24.00/SF
− Vacancy
−$6.2K −$2.40/SF
EGI
$56.1K $21.60/SF
− OpEx
−$21.1K −$8.10/SF
NOI
$35.1K $13.50/SF
Area
Williamson County, TX
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,740
Cap Rate 7%
$501,243
Cap Rate 9%
$389,856
Alternative Uses
Best Use
Mixed Use
$501.2K
$438.6K – $584.8K
NOI $35,087 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$950.6K – $1.27M
NOI $76,051 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
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Business Placement
Demographics for 78641, TX
83,426
Population
33,118
Households
2.5
Avg Household Size
36
Median Age
51%
College-Educated
95%
High-School Grad
124.4 sq mi
ZIP Area
671
Density / Sq Mi
$131,421
Median Household Income
$61,185
Median Earnings
$1,873
Median Rent
$453,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Commercial land - 2.94 acres with two residences in Leander, Texas.
Where is this commercial land located?
The property is located at 14410 Hero Way W Leander, TX.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two residences included: a **2,599 sq ft home built in 1998 with 4 bedrooms and 2 baths**, plus a 2,388 sq ft home dating from 1925.; +/- 2.94 acre property in the City of Leander.; Located in an area designated as "Multi‑Use Corridor - Priority Corridor" in Leander's Future Land Use Map, suggesting potential for rezoning and mixed‑use development.
