Flex Property with Expansion
For Sale
$3,500,000
20234 Keilman Ln, Pflugerville, TX 78660
Unrestricted commercial/light industrial acreage combines warehouse, office, storage, parking, and a concrete pad for future improvements.
Property Size4,663 SF
Lot Size4.00 Acres
Price / SF$750.59
Days on Market18
Property Features for 20234 Keilman Ln
General Information
Standard status
Active
Size
4,663 SF
Total Parking Spaces
30
Lot size
4.00 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
2,200 SF
Office Build-Out
1,949 SF
Amenities
pool
patio
Building Details
Year Built
1983
Listing Agency:
Christies Intl Real Estate Lone Star
(512) 695-6588
Listed By:
Kelli McLaughlin · License #0658823
Source:
Olverabolton
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 28 at 10:52AM
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 Christies Intl Real Estate Lone Star
Investment Insights
Based on property information with market context.
This flex property at 20234 Keilman Ln includes 4+ acres, with approximately 2 developed acres supporting a 2,200 SF fenced metal warehouse, 1,679 SF of office space, 270 SF of additional conditioned office area, and 450 SF of covered storage. The site also provides parking for 30 vehicles, along with an existing pool and patio area. Improvements date to 1983.
The remaining 2 undeveloped acres include an improved driveway leading to a 7,200 SF concrete pad. The pad is positioned for additional warehouse, distribution, or flex-building development. The property is described as unrestricted commercial/light industrial and has no zoning restrictions. Utilities include on-site septic (OSSF); septic permit and capacity, along with public water and sewer availability, require independent verification.
Access is available to SH130, SH45, and Gattis School Road. The property is near Dell, Samsung Semiconductor, Tesla Gigafactory, TAMU Medical School, Chisholm Station PUD, and Pflugerville’s planned Corridor District.
The remaining 2 undeveloped acres include an improved driveway leading to a 7,200 SF concrete pad. The pad is positioned for additional warehouse, distribution, or flex-building development. The property is described as unrestricted commercial/light industrial and has no zoning restrictions. Utilities include on-site septic (OSSF); septic permit and capacity, along with public water and sewer availability, require independent verification.
Access is available to SH130, SH45, and Gattis School Road. The property is near Dell, Samsung Semiconductor, Tesla Gigafactory, TAMU Medical School, Chisholm Station PUD, and Pflugerville’s planned Corridor District.
Key Highlights
- 4+ acres with 2 developed acres and 2 undeveloped acres
- 2,200 SF fenced metal warehouse with 5 bays
- 1,679 SF office plus 270 SF additional conditioned office 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
$111,192
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
3.18%
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%
$2,223,840
$2.2M
Cap Rate 7%
$1,588,457
$1.6M
Cap Rate 9%
$1,235,467
$1.2M
Market Conditions
NOI Build-Up for 4,663 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
$195.8K $42.00/SF
− Vacancy
−$47.6K −$10.21/SF
EGI
$148.3K $31.79/SF
− OpEx
−$37.1K −$7.95/SF
NOI
$111.2K $23.85/SF
Area
Travis County, TX
Vacancy
24.30%
Lease Rate
$42.00 /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%
$2,223,840
Cap Rate 7%
$1,588,457
Cap Rate 9%
$1,235,467
Alternative Uses
Best Use
Office B
$1.59M
$1.39M – $1.85M
NOI $111,192 @ 7.0% cap · market cap 3.18%
Second Best
Warehouse
$670.7K
$586.8K – $782.4K
NOI $46,946 @ 7.0% cap · market cap 1.34%
Theoretical Best
Office A
$1.95M
$1.71M – $2.27M
NOI $136,448 @ 7.0% cap · market cap 3.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78660, TX
110,955
Population
44,399
Households
2.5
Avg Household Size
34
Median Age
42%
College-Educated
93%
High-School Grad
44.6 sq mi
ZIP Area
2,488
Density / Sq Mi
$109,522
Median Household Income
$55,927
Median Earnings
$1,769
Median Rent
$369,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Unrestricted commercial/light industrial acreage combines warehouse, office, storage, parking, and a concrete pad for future improvements.
Where is this flex space located?
The property is located at 20234 Keilman Ln Pflugerville, TX.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 4+ acres with 2 developed acres and 2 undeveloped acres; 2,200 SF fenced metal warehouse with 5 bays; 1,679 SF office plus 270 SF additional conditioned office space
