Acreage with Workshop and
For Sale
$399,000
15100 Honeycomb HOLW, Leander, TX 78641
Leander, TX
Property Size2,200 SF
Lot Size6.80 Acres
Price / SF$181.36
Days on Market51
Property Features for 15100 Honeycomb HOLW
General Information
Property type
Land
Property subtype
Other
Subdivision
Honeycomb Hills
Elementary school
Bagdad
Middle school
Leander Middle
High school
Glenn
Standard status
Active
Lot size
6.80 Acres
Listing Agency:
Engel & Volkers Austin Westlake · Engel & Völkers
(512) 328-3939
Listed By:
Gildardo Vences
Added: Jul 3
Changed: Aug 19
Last Checked: Aug 22 at 3:06AM
MLS# 2695723
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Offered for sale is a 6.8+-acre property in Leander, TX, located at the end of a cul-de-sac. The land offers rolling topography and expansive panoramic views, with multiple potential home sites for future development choices. A custom-built building on site provides a practical indoor space for storage or a workshop.
The approximately 2,200+ square foot warehouse/barn includes two oversized roll-up doors and a lean-to cover at the back. An additional treehouse is also located among the trees. The property is described as electric-ready, but well and septic are needed. The seller also notes there is no homeowners association.
All information should be verified by the agent and/or buyer.
The approximately 2,200+ square foot warehouse/barn includes two oversized roll-up doors and a lean-to cover at the back. An additional treehouse is also located among the trees. The property is described as electric-ready, but well and septic are needed. The seller also notes there is no homeowners association.
All information should be verified by the agent and/or buyer.
Key Highlights
- 6.8‑acre property in Leander with expansive panoramic views and rolling topography.
- 2200+ sq ft custom‑built building/warehouse/barn with two oversized roll‑up doors and lean‑to cover.
- Multiple potential home sites offering flexibility in building placement.
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
5.55%
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 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$919.7K
$804.7K – $1.07M
NOI $64,376 @ 7.0% cap · market cap 16.13%
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 cul-de-sac lot with a 2,200+ sq ft warehouse/barn featuring roll-up doors and a back lean-to.
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 $399,000.
What are key features of this property?
This property features: 6.8‑acre property in Leander with expansive panoramic views and rolling topography.; 2200+ sq ft custom‑built building/warehouse/barn with **two oversized roll‑up doors and lean‑to cover.**; Multiple potential home sites offering flexibility in building placement.
