Flex Space with Marine-Service
New
For Sale
$1,600,000
151 Old Hancock Road, Canyon Lake, TX 78133
CommercialSale, Canyon Lake, TX
Property Size3,750 SF
Lot Size3.06 Acres
Price / SF$426.67
Days on Market4
Property Features for 151 Old Hancock Road
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Schuette Park
Lot features
Three To Five Acres, Level, Outside City Limits
View
Lake
Elementary school district
Comal ISD
Middle school district
Comal ISD
High school district
Comal ISD
Directions
Take IH-35 to FM 306 toward Canyon Lake. Continue west on FM 306 toward Canyon Lake. Turn onto Old Hancock Road. Continue to 151 Old Hancock Road; the property is located along Old Hancock Road in the Canyon Lake area.
Standard status
Active
APN
82944
Size
3,750 SF
Lot size
3.06 Acres
Additional Details
Mixed-Use Components
retail, office, warehouse, service, residential
Property Use
Marine Boat Sales, Service, and Repair
Taxes and HOA fees
Tax Year
2023
Tax Description
SCHUETTE PARK (A-960 SUR-990 F KRAUSE), TRACT 11, ACRES 1.5
Tax Annual Amount
11675
Legal Description
SCHUETTE PARK (A-960 SUR-990 F KRAUSE), TRACT 11, ACRES 1.5
Utilities
Sewer type
Public Sewer, Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
compressed-air system
Building Details
Year built
1985
Floors in Building
2
Flooring type
Concrete, Paintedstained
Building materials
MetalFrame
Roof type
Metal
Listing Agency:
D Lee Edwards Realty, Inc
(830) 620-7653
Listed By:
D. Lee Edwards · License #0435290
(830) 708-2319
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 31 at 12:06PM
MLS# 628845
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This flex property was built and operated as a marine sales, service, and repair facility. Improvements include two metal buildings, showroom, office, warehouse, and service areas, plus a separate apartment with three bedrooms and two bathrooms overlooking the retail area. A storage shed, paved and fenced grounds, and a compressed-air system serving most of the facility are also in place. The buildings date to 1985 and have metal-frame construction and metal roofing.
The property comprises approximately 3.06 acres with 1,306 feet of road frontage. It is just off FM 306 and less than half a mile from Boat Ramp 17 at Little Jacob's Creek and Boat Ramps 14 and 15 at Jacob's Creek Park. The land, buildings, and attached improvements are included; business assets, boats, trailers, parts, tools, and equipment are excluded unless negotiated separately.
The property comprises approximately 3.06 acres with 1,306 feet of road frontage. It is just off FM 306 and less than half a mile from Boat Ramp 17 at Little Jacob's Creek and Boat Ramps 14 and 15 at Jacob's Creek Park. The land, buildings, and attached improvements are included; business assets, boats, trailers, parts, tools, and equipment are excluded unless negotiated separately.
Key Highlights
- Approximately 3.06 acres with 1,306 feet of road frontage
- Former marine sales, service, and repair facility with showroom, office, warehouse, and service areas
- Separate 3‑bedroom, 2‑bath apartment overlooking the retail area
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
Flex RnD
$564.1K
$493.6K – $658.1K
NOI $39,488 @ 7.0% cap · market cap 2.47%
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - A separate three-bedroom apartment overlooks the retail area, alongside paved, fenced grounds and two metal buildings.
Where is this flex space located?
The property is located at 151 Old Hancock Road 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: Approximately 3.06 acres with 1,306 feet of road frontage; Former marine sales, service, and repair facility with showroom, office, warehouse, and service areas; Separate 3‑bedroom, 2‑bath apartment overlooking the retail area
