Industrial Distribution Center with
For Sale
$999,500
180 Spring Mountain Drive, Canyon Lake, TX 78133
CommercialSale, Canyon Lake, TX
Property Size8,440 SF
Lot Size1.58 Acres
Price / SF$111.28
Days on Market494
Property Features for 180 Spring Mountain Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Oversize, Garage
Lot features
Level, Outside City Limits, Secluded
Elementary school district
Comal ISD
Middle school district
Comal ISD
High school district
Comal ISD
Directions
From I 35 north turn left onto FM306 13.1 mi Turn right onto Spring Mountain Dr 0.1 mi Turn right 69 ft Slight left Destination will be on the left
Standard status
Active
APN
77837
Size
8,982 SF
Lot size
1.58 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
A-388 SUR- 19 W J MILLS, ACRES 1.579
Tax Annual Amount
15259
Legal Description
A-388 SUR- 19 W J MILLS, ACRES 1.579
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Amenities
shipping container storage
Building Details
Year built
2008
Floors in Building
1
Flooring type
Concrete
Building materials
MetalFrame, MetalSiding
Roof type
Metal
Listing Agency:
Anders Pierce Realty, LLC
(830) 214-6002
Listed By:
Matthew Pierce · License #0565292
(512) 757-6224
Added: Apr 16, 2025
Changed: Aug 20
Last Checked: Aug 22 at 6:06PM
MLS# 576494
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.
Investment Insights
Based on property information with market context.
Built in 2008, this metal-frame distribution center occupies 1.579 acres and combines administrative space with warehouse-oriented improvements. The building includes six offices, nine high-clearance overhead doors, concrete flooring, a metal roof, and central electric heating and cooling. On-site shipping container storage adds separate capacity for inventory or equipment.
The property also provides an outdoor yard, employee parking, and oversized garage parking. A septic tank serves the site, supporting its existing commercial configuration in Canyon Lake, Texas.
The property also provides an outdoor yard, employee parking, and oversized garage parking. A septic tank serves the site, supporting its existing commercial configuration in Canyon Lake, Texas.
Key Highlights
- 1.579‑acre commercial property in Canyon Lake, TX
- Six office spaces support administrative and management functions
- Nine high‑clearance overhead doors provide loading access
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
$65,277
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
6.53%
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%
$1,305,540
$1.3M
Cap Rate 7%
$932,529
$932.5K
Cap Rate 9%
$725,300
$725.3K
Market Conditions
NOI Build-Up for 8,982 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
$80.8K $9.00/SF
− Vacancy
−$4.0K −$0.45/SF
EGI
$76.8K $8.55/SF
− OpEx
−$11.5K −$1.28/SF
NOI
$65.3K $7.27/SF
Area
Comal County, TX
Vacancy
5.00%
Lease Rate
$9.00 /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%
$1,305,540
Cap Rate 7%
$932,529
Cap Rate 9%
$725,300
Alternative Uses
Best Use
Warehouse
$932.5K
$816.0K – $1.09M
NOI $65,277 @ 7.0% cap · market cap 6.53%
Second Best
Industrial
$768.0K
$672.0K – $896.0K
NOI $53,757 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,381 @ 7.0% cap · market cap 16.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Distribution center - Metal distribution facility with office accommodations, loading access, outdoor storage, and oversized parking.
Where is this distribution center located?
The property is located at 180 Spring Mountain Drive Canyon Lake, TX.
What is the asking price?
The asking price for this property is $999,500.
What are key features of this property?
This property features: 1.579‑acre commercial property in Canyon Lake, TX; Six office spaces support administrative and management functions; Nine high‑clearance overhead doors provide loading access
