Multifamily Property Near
38400 INTERSTATE 10 W, Boerne, TX 78006
For Sale
New
$2,800,000
Multi-Family (2-8 Units), Boerne, TX
Property Size11,662 SF
Lot Size3.29 Acres
Price / SF$240.10
Days on Market5
Property Features for 38400 INTERSTATE 10 W
General Information
Property type
Property subtype
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Building Details
Year built
Listing Agency:
Keller Williams Boerne · Keller Williams Realty
(830) 816-3500
Listed By:
Timothy Warlow
(210) 696-9996
Added: Nov 5
Changed: Nov 6
Last Checked: Nov 9 at 5:06AM
MLS# 2028561
Copyright © 2026 LERA MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This multifamily property contains 11,662 square feet on a 3.289-acre site. Built in 1994, it has an established multi-unit residential configuration and was previously used for assisted living. Any change in use would be subject to applicable approvals.
The property is on the north side of Boerne along the IH-10 corridor, near the Ranger Creek Road exit. Its location provides access to IH-10 and connections to Boerne, San Antonio, and the surrounding Texas Hill Country.
The property is on the north side of Boerne along the IH-10 corridor, near the Ranger Creek Road exit. Its location provides access to IH-10 and connections to Boerne, San Antonio, and the surrounding Texas Hill Country.
Key Highlights
- 11,662‑square‑foot multifamily property on 3.289 acres
- Built in 1994
- Previously used for assisted living
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$103,908
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,078,160
$2.1M
Cap Rate 7%
$1,484,400
$1.5M
Cap Rate 9%
$1,154,533
$1.2M
Market Conditions
NOI Build-Up for 11,662 SF
Gross rent
$209.9K $18.00/SF
− Vacancy
−$21.0K −$1.80/SF
EGI
$188.9K $16.20/SF
− OpEx
−$85.0K −$7.29/SF
NOI
$103.9K $8.91/SF
Area
Kendall County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,078,160
Cap Rate 7%
$1,484,400
Cap Rate 9%
$1,154,533
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,908 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.97M
$2.60M – $3.47M
NOI $208,234 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 78006, TX
40,979
Population
16,643
Households
2.5
Avg Household Size
44
Median Age
51%
College-Educated
94%
High-School Grad
345.9 sq mi
ZIP Area
118
Density / Sq Mi
$110,955
Median Household Income
$51,943
Median Earnings
$1,612
Median Rent
$502,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in Kendall County, TX
Properties on Market for Multifamily properties in Kendall County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - The property has an established multi-unit residential layout and was previously used for assisted living.
Where is this multifamily property located?
The property is located at 38400 INTERSTATE 10 W Boerne, TX.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 11,662‑square‑foot multifamily property on 3.289 acres; Built in 1994; Previously used for assisted living
