Acreage with RV/Workshop
For Sale
$499,000
15100 Honeycomb Hollow, Leander, TX 78641
6.8-acre cul-de-sac property includes a custom storage building with two oversized roll-up doors and lean-to cover.
Property Size2,200 SF
Lot Size6.80 Acres
Price / SF$226.82
Days on Market189
Property Features for 15100 Honeycomb Hollow
General Information
Standard status
Active
Size
2,200 SF
Lot size
6.80 Acres
Property subtype
Land / Unimproved Land
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$8,654
Amenities
treehouse
Listing Agency:
Engel & Volkers Austin
(512) 431-1216
Listed By:
Gil Vences · License #0637397
(512) 431-1216
Source:
Compass
Added: Feb 4
Changed: Aug 8
Last Checked: Mar 25 at 5:46PM
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 & Volkers Austin
Investment Insights
Based on property information with market context.
This 6.8+-acre property is positioned at the end of a cul-de-sac and features rolling topography with expansive panoramic views. The land offers multiple potential home sites, with options to site a residence to capture views or place it among the trees.
At the center of the property is a custom-built building of approximately 2,200+ square feet designed for storage and shop use. It includes two oversized roll-up doors and a lean-to cover at the back, suited for storing an RV, equipment, recreational vehicles, or supporting a workshop.
The property is electric-ready, and the owner indicates that a well and septic are needed. A small treehouse is also located among the trees. The seller states there is no homeowners association.
At the center of the property is a custom-built building of approximately 2,200+ square feet designed for storage and shop use. It includes two oversized roll-up doors and a lean-to cover at the back, suited for storing an RV, equipment, recreational vehicles, or supporting a workshop.
The property is electric-ready, and the owner indicates that a well and septic are needed. A small treehouse is also located among the trees. The seller states there is no homeowners association.
Key Highlights
- 6.8+-acre property at the end of a cul‑de‑sac with panoramic views and rolling topography
- Custom‑built building on‑site with approx. 2,200+ SF and two oversized roll‑up doors
- Lean‑to cover at the back of the building for additional covered 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
$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
4.44%
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 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$919.7K
$804.7K – $1.07M
NOI $64,376 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
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 cul-de-sac property includes a custom storage building with two oversized roll-up doors and lean-to cover.
Where is this residential land & home lot located?
The property is located at 15100 Honeycomb Hollow Leander, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 6.8+-acre property at the end of a cul‑de‑sac with panoramic views and rolling topography; Custom‑built building on‑site with approx. 2,200+ SF and two oversized roll‑up doors; Lean‑to cover at the back of the building for additional covered space
