Commercial Land Near Canyon
For Sale
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23541 FM306, Canyon Lake, TX 78133
5.33 acres with 6,000 SF building near Canyon Lake.
Property Size6,000 SF
Lot Size5.33 Acres
Price / SF$149.25
Days on Market302
Property Features for 23541 FM306
General Information
Standard status
Active
Size
6,000 SF
Lot size
5.33 Acres
Property subtype
Mixed Use, Land
Zoning
OCL
Investment Type
Owner/User
Building Details
Buildings
1
Stories
1
Listing Agency:
Coldwell Banker Commercial - Alamo City
Listed By:
Anthony Moore · License #777533
Source:
Crexi
Added: Oct 28, 2025
Changed: Aug 14
Last Checked: Aug 23 at 8:16AM
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 Coldwell Banker Commercial - Alamo City
Investment Insights
Based on property information with market context.
This property features approximately 5.33 acres of commercial land improved with a 6,000 SF metal building, situated along high-traffic FM 306, minutes from Canyon Lake. The location benefits from new residential construction and upscale communities, offering potential for future growth and development. The property's frontage and visibility along FM 306 support a variety of uses, including commercial, retail, or mixed-use development, or as an owner-user site. The property currently generates recurring monthly income from an existing sign lease, providing immediate return while planning future improvements or redevelopment. This asset offers a balance of short-term income and long-term appreciation potential in the Hill Country market.
Key Highlights
- Prime commercial land (+/- 5.33 acres) on high‑traffic FM 306.
- Income‑producing opportunity with existing sign lease.
- Located minutes from Canyon Lake in a thriving area.
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
$79,200
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
8.84%
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%
$1,584,000
$1.6M
Cap Rate 7%
$1,131,429
$1.1M
Cap Rate 9%
$880,000
$880.0K
Market Conditions
NOI Build-Up for 6,000 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
$144.0K $24.00/SF
− Vacancy
−$17.3K −$2.88/SF
EGI
$126.7K $21.12/SF
− OpEx
−$47.5K −$7.92/SF
NOI
$79.2K $13.20/SF
Area
Comal County, TX
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,584,000
Cap Rate 7%
$1,131,429
Cap Rate 9%
$880,000
Alternative Uses
Best Use
Mixed Use
$1.13M
$990.0K – $1.32M
NOI $79,200 @ 7.0% cap · market cap 8.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,135 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
22
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 5.33 acres with 6,000 SF building near Canyon Lake.
Where is this commercial land located?
The property is located at 23541 FM306 Canyon Lake, TX.
What is the asking price?
The asking price for this property is $895,500.
What are key features of this property?
This property features: Prime commercial land (+/- 5.33 acres) on high‑traffic FM 306.; Income‑producing opportunity with existing sign lease.; Located minutes from Canyon Lake in a thriving area.
