Warehouse Property on 6.8
For Sale
$484,000
15100 Honeycomb Holw, Leander, TX 78641
6.8-acre tract with a 2,200+ sf warehouse/barn featuring two oversized roll-up doors and electric-ready service.
Property Size2,200 SF
Lot Size6.80 Acres
Price / SF$220
Days on Market107
Property Features for 15100 Honeycomb Holw
General Information
Standard status
Active
Size
2,200 SF
Lot size
6.80 Acres
Property subtype
Land
Additional Details
Drive-In Doors
2
Taxes and HOA fees
Annual Taxes
$8,654
Listing Agency:
Engel & Völkers Austin Westlake
(512) 431-1216
Listed By:
Gildardo Vences
(512) 431-1216
Source:
Elliman
Added: Apr 28
Changed: Aug 8
Last Checked: Apr 28 at 7:42PM
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 Engel & Völkers Austin Westlake
Investment Insights
Based on property information with market context.
Set on approximately 6.8 acres at the end of a cul-de-sac, this Hill Country property includes rolling topography and multiple potential home sites among the trees. A custom-built building spans approximately 2,200+ square feet and is suited for storage and workshop use, with two oversized roll-up doors plus a lean-to cover at the back.
The property is electric-ready and is described as having well and septic needed. A small treehouse is also located on the land.
With no homeowners association noted, the parcel offers a flexible setup for buyers looking for land with an on-site warehouse structure and space to plan future improvements. All information is to be verified by the agent and/or buyer.
The property is electric-ready and is described as having well and septic needed. A small treehouse is also located on the land.
With no homeowners association noted, the parcel offers a flexible setup for buyers looking for land with an on-site warehouse structure and space to plan future improvements. All information is to be verified by the agent and/or buyer.
Key Highlights
- 6.8+-acre property at the end of a cul‑de‑sac with expansive panoramic views and rolling topography
- Custom‑built building with approximately 2,200+ SF warehouse/barn space for storage or a workshop
- Building features two oversized roll‑up doors plus a lean‑to cover at the back
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
$22,149
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
4.58%
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%
$442,980
$443.0K
Cap Rate 7%
$316,414
$316.4K
Cap Rate 9%
$246,100
$246.1K
Market Conditions
NOI Build-Up for 2,200 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
$32.7K $14.88/SF
− Vacancy
−$6.7K −$3.04/SF
EGI
$26.1K $11.84/SF
− OpEx
−$3.9K −$1.78/SF
NOI
$22.1K $10.07/SF
Area
Travis 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%
$442,980
Cap Rate 7%
$316,414
Cap Rate 9%
$246,100
Alternative Uses
Best Use
Warehouse
$316.4K
$276.9K – $369.2K
NOI $22,149 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$919.7K
$804.7K – $1.07M
NOI $64,376 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - 6.8-acre tract with a 2,200+ sf warehouse/barn featuring two oversized roll-up doors and electric-ready service.
Where is this residential land & home lot located?
The property is located at 15100 Honeycomb Holw Leander, TX.
What is the asking price?
The asking price for this property is $484,000.
What are key features of this property?
This property features: 6.8+-acre property at the end of a cul‑de‑sac with expansive panoramic views and rolling topography; Custom‑built building with approximately 2,200+ SF warehouse/barn space for storage or a workshop; Building features two oversized roll‑up doors plus a lean‑to cover at the back
