New Braunfels Investment
For Sale
$5,157,224
1878 Herbelin Road, New Braunfels, TX 78132
5.58 acres in the heart of Texas Hill Country.
Property Size19,323 SF
Lot Size5.58 Acres
Price / SF$214.88
Days on Market193
Property Features for 1878 Herbelin Road
General Information
Standard status
Active
Size
19,323 SF
Class
A
Lot size
5.58 Acres
Property subtype
Office
Building Details
Building Size
19,323 SF
Listing Agency:
Legacy Commercial Real Estate
(830) 708-9054
Listed By:
Will Henry · License #TX #668108
(830) 708-9054
Source:
Legacycommercialre
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 8 at 6:02AM
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 Legacy Commercial Real Estate
Investment Insights
Based on property information with market context.
This 5.58-acre property in New Braunfels, TX, presents an investment and owner-operator opportunity. Located in the heart of the Texas Hill Country, the site benefits from high demographics in the New Braunfels and Comal County area. The current build-out includes two 6,000 SF buildings with multiple long-term leases, as well as 3,000 SF of fully built-out executive office suites. Approved and ready for Phase II, the property has plans for two additional 6,000 SF buildings and an additional parking lot. At full build-out, the parking ratio is 4.25:1,000. Phase II offers the opportunity for owner-operators to finish out their ideal office space, or for investors to continue adding tenants to a growing market. These 6,000 SF buildings are suited for prospective office or office building investors, or end-users looking to get their roots into one of the highest demographic areas of New Braunfels. The location offers easy access via State Hwy 46 to New Braunfels or the greater Hill Country area. The property is located in an office and retail park that offers a blend of office setting, modern amenities, and ample parking.
Key Highlights
- Prime location in the heart of the Texas Hill Country, surrounded by high demographics in New Braunfels & Comal County.
- Existing income‑generating property with (2) 6,000 SF buildings under long‑term leases and 3,000 SF of executive office suites.
- Approved and ready for Phase II expansion, including (2) additional 6,000 SF buildings and an additional parking lot.
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
$327,093
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
6.34%
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%
$6,541,860
$6.5M
Cap Rate 7%
$4,672,757
$4.7M
Cap Rate 9%
$3,634,367
$3.6M
Market Conditions
NOI Build-Up for 24,000 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
$529.9K $22.08/SF
− Vacancy
−$93.8K −$3.91/SF
EGI
$436.1K $18.17/SF
− OpEx
−$109.0K −$4.54/SF
NOI
$327.1K $13.63/SF
Area
Comal County, TX
Vacancy
17.70%
Lease Rate
$22.08 /SF/Yr
Expense Ratio
25.00%
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%
$6,541,860
Cap Rate 7%
$4,672,757
Cap Rate 9%
$3,634,367
Alternative Uses
Best Use
Office B
$4.67M
$4.09M – $5.45M
NOI $327,093 @ 7.0% cap · market cap 6.34%
Second Best
Retail
$4.59M
$4.02M – $5.35M
NOI $321,270 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$6.12M
$5.36M – $7.14M
NOI $428,539 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 78132, TX
37,475
Population
15,356
Households
2.4
Avg Household Size
43
Median Age
53%
College-Educated
96%
High-School Grad
179.3 sq mi
ZIP Area
209
Density / Sq Mi
$126,934
Median Household Income
$63,870
Median Earnings
$1,531
Median Rent
$570,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - 5.58 acres in the heart of Texas Hill Country.
Where is this office building located?
The property is located at 1878 Herbelin Road New Braunfels, TX.
What is the asking price?
The asking price for this property is $5,157,224.
What are key features of this property?
This property features: Prime location in the heart of the Texas Hill Country, surrounded by high demographics in New Braunfels & Comal County.; Existing income‑generating property with (2) 6,000 SF buildings under long‑term leases and 3,000 SF of executive office suites.; Approved and ready for Phase II expansion, including (2) additional 6,000 SF buildings and an additional parking lot.
