Mixed-Use Property with
New
For Sale
$1,600,000
151 Old Hancock Rd, Canyon Lake, TX 78133
The site brings together marine repair facilities, a retail storefront and an upstairs apartment.
Property Size3,750 SF
Days on Market2
Property Features for 151 Old Hancock Rd
General Information
Standard status
Active
Size
3,750 SF
Property subtype
Commercial
Site & Location
Corner Location
Yes
Mixed-Use Components
retail, residential, workshop
Additional Details
Real Estate Included
Yes
Amenities
paved lot
storage shed
retail store front
upstairs apartment
Building Details
Building Size
3,750 SF
Year Built
1985
Buildings
2
Stories
2
Construction
metal
Listing Agency:
D. Lee Edwards Realty, Inc
Listed By:
D. Lee Edwards · License #0435290
(830) 708-2319
Source:
Elliman
Added: Oct 30
Last Checked: Oct 30 at 2:34PM
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 D. Lee Edwards Realty, Inc
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Investment Insights
Based on property information with market context.
This mixed-use property comprises six parcels and includes two metal workshop buildings, a storage shed and a paved lot. One workshop contains a retail storefront with an apartment above; the apartment overlooks the retail area. The property was built in 1985.
The site occupies a corner location with exposure to FM 306 and is less than one mile from JBSA Recreation Park at Canyon Lake.
The site occupies a corner location with exposure to FM 306 and is less than one mile from JBSA Recreation Park at Canyon Lake.
Key Highlights
- Six parcels with a paved lot and storage shed
- Two metal workshop buildings, including one with a retail storefront and upstairs apartment
- Marine repair shop on a corner lot with exposure to FM 306
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,198
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,003,960
$1.0M
Cap Rate 7%
$717,114
$717.1K
Cap Rate 9%
$557,756
$557.8K
Market Conditions
NOI Build-Up for 3,750 SF
Gross rent
$74.7K $19.92/SF
− Vacancy
−$3.0K −$0.80/SF
EGI
$71.7K $19.12/SF
− OpEx
−$21.5K −$5.74/SF
NOI
$50.2K $13.39/SF
Area
Comal County, TX
Vacancy
4.00%
Lease Rate
$19.92 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,003,960
Cap Rate 7%
$717,114
Cap Rate 9%
$557,756
Alternative Uses
Best Use
Retail
$717.1K
$627.5K – $836.6K
NOI $50,198 @ 7.0% cap · market cap 3.14%
Second Best
Mixed Use
$707.1K
$618.8K – $825.0K
NOI $49,500 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$956.6K
$837.0K – $1.12M
NOI $66,959 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
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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
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The site brings together marine repair facilities, a retail storefront and an upstairs apartment.
Where is this mixed-use property located?
The property is located at 151 Old Hancock Rd Canyon Lake, TX.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Six parcels with a paved lot and storage shed; Two metal workshop buildings, including one with a retail storefront and upstairs apartment; Marine repair shop on a corner lot with exposure to FM 306
