Eight-Office Commercial
For Sale
$649,900
223 Lucinda Drive, New Braunfels, TX 78130
CommercialSale, New Braunfels, TX
Property Size3,000 SF
Lot Size0.35 Acres
Price / SF$216.63
Days on Market203
Property Features for 223 Lucinda Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMM
Parking features
Driveway
Exterior features
Lighting
Accessibility
Accessible Approach with Ramp
Subdivision
Urban Heights
Lot features
City Lot, Quarter To Half Acre Lot
Elementary school district
Comal ISD
Middle school district
Comal ISD
High school district
Comal ISD
Directions
2 miles on Hwy 46 from IH-35 towards Seguin. Left on Deborah, Left on Lucinda
Standard status
Active
APN
44692
Size
3,000 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT: 4 BLK: 3 ADDN: URBAN HEIGHTS
Tax Annual Amount
7270
Legal Description
LOT: 4 BLK: 3 ADDN: URBAN HEIGHTS
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
ADA accessibility
dual HVAC system
high-speed internet and phone connectivity
spacious reception area
dedicated storage
Building Details
Year built
2001
Floors in Building
2
Flooring type
Tile, Carpet
Building materials
Brick
Roof type
Shingle, Composition
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Charles Gallagher · License #0812509
(210) 259-7317
Added: Feb 19
Changed: Aug 20
Last Checked: Sep 10 at 1:06AM
MLS# 605043
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.
This 3,000-square-foot office property, built in 2001, includes eight private offices, a reception area, dedicated storage, and dual HVAC. Each office is wired for high-speed internet and phone service, with an existing telephone system in place. The layout accommodates two to four desks per office and can support a single-user operation or individual suite leasing. ADA accessibility, 10+ parking spaces, tile and carpet flooring, central heating and cooling, and brick construction add to the functional configuration.
The property is located within a small industrial park near Hwy 46, I-35, and IH-10, with downtown New Braunfels and the Austin and San Antonio markets within reach. It carries COMM zoning, occupies 0.3511 acres, and is currently leased through May 31, 2027.
The property is located within a small industrial park near Hwy 46, I-35, and IH-10, with downtown New Braunfels and the Austin and San Antonio markets within reach. It carries COMM zoning, occupies 0.3511 acres, and is currently leased through May 31, 2027.
Key Highlights
- 3,000‑square‑foot office property on 0.3511 acres
- Eight private offices with reception area and dedicated storage
- Each office accommodates 2‑4 desks and is wired for high‑speed internet and phone service
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
$40,887
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
6.29%
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%
$817,740
$817.7K
Cap Rate 7%
$584,100
$584.1K
Cap Rate 9%
$454,300
$454.3K
Market Conditions
NOI Build-Up for 3,000 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
$66.2K $22.08/SF
− Vacancy
−$11.7K −$3.91/SF
EGI
$54.5K $18.17/SF
− OpEx
−$13.6K −$4.54/SF
NOI
$40.9K $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%
$817,740
Cap Rate 7%
$584,100
Cap Rate 9%
$454,300
Alternative Uses
Best Use
Office B
$584.1K
$511.1K – $681.5K
NOI $40,887 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$765.2K
$669.6K – $892.8K
NOI $53,567 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Explore this area
Business Placement
Demographics for 78130, TX
88,349
Population
40,810
Households
2.2
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
91.0 sq mi
ZIP Area
971
Density / Sq Mi
$84,426
Median Household Income
$45,253
Median Earnings
$1,525
Median Rent
$296,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible office layout with private rooms, reception, storage, and accessible entry.
Where is this office units located?
The property is located at 223 Lucinda Drive New Braunfels, TX.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 3,000‑square‑foot office property on 0.3511 acres; Eight private offices with reception area and dedicated storage; Each office accommodates 2‑4 desks and is wired for high‑speed internet and phone service
