Metal Workshop Building with RV
For Sale
$152,700
390 Private Road 1507, Bandera, TX 78003
Metal building includes roll-up doors, spray foam insulation, mini-split HVAC, and a large covered RV structure with utility hookups.
Property Size850 SF
Lot Size0.28 Acres
Price / SF$179.65
Days on Market123
Property Features for 390 Private Road 1507
General Information
Standard status
Active
Size
850 SF
Lot size
0.28 Acres
Property subtype
Land
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$878
Amenities
controlled access entry gates
swimming pool
hot tub
clubhouse
playground
volleyball court
BBQ and picnic areas
fishing pier
boat ramp access
RV sites
cabins
high-speed fiber internet
Building Details
Construction
metal building
Listing Agency:
Emmons Real Estate
Listed By:
Thad Emmons
(210) 861-0654
Source:
Exprealty
Added: May 7
Changed: Sep 5
Last Checked: Sep 5 at 10:45AM
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 Emmons Real Estate
Investment Insights
Based on property information with market context.
This property features an 850 sq. ft. metal building designed for flexibility, with two commercial-style roll-up doors and a large covered awning. The interior includes framed bedroom space, existing PEX plumbing, and washer/dryer connections, along with full electrification and both 110V and 30 amp/50 amp service already installed. The building has been professionally spray foam insulated with approximately 2.5 inches of foam, and two mini-split HVAC systems totaling 3 tons provide climate control.
The exterior includes a massive 20x45 RV cover with 50/30/20 amp hookups, plus water and sewer connections already in place. The property is located in Holiday Villages of Medina and offers access to community amenities including controlled-access entry gates, swimming pool and hot tub, clubhouse, playground, volleyball court, BBQ and picnic areas, and recreational water access with a fishing pier and boat ramp access (noted as very low level currently).
The existing improvements are positioned for a range of uses, and the interior is not yet finished, allowing a buyer to complete the space to suit their plans.
The exterior includes a massive 20x45 RV cover with 50/30/20 amp hookups, plus water and sewer connections already in place. The property is located in Holiday Villages of Medina and offers access to community amenities including controlled-access entry gates, swimming pool and hot tub, clubhouse, playground, volleyball court, BBQ and picnic areas, and recreational water access with a fishing pier and boat ramp access (noted as very low level currently).
The existing improvements are positioned for a range of uses, and the interior is not yet finished, allowing a buyer to complete the space to suit their plans.
Key Highlights
- Usable, level 0.2755‑acre lot in Holiday Villages of Medina, Texas Hill Country
- 850 SF metal building with two commercial‑style roll‑up doors and large covered awning
- Building is spray foam insulated (approx. 2.5 in) with two mini‑split HVAC systems totaling 3 tons
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
$6,177
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
4.05%
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%
$123,540
$123.5K
Cap Rate 7%
$88,243
$88.2K
Cap Rate 9%
$68,633
$68.6K
Market Conditions
NOI Build-Up for 850 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
$7.7K $9.00/SF
− Vacancy
−$383 −$0.45/SF
EGI
$7.3K $8.55/SF
− OpEx
−$1.1K −$1.28/SF
NOI
$6.2K $7.27/SF
Area
Bandera County, TX
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$123,540
Cap Rate 7%
$88,243
Cap Rate 9%
$68,633
Alternative Uses
Best Use
Warehouse
$88.2K
$77.2K – $103.0K
NOI $6,177 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$216.8K
$189.7K – $253.0K
NOI $15,177 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78003, TX
9,595
Population
5,194
Households
1.8
Avg Household Size
53
Median Age
24%
College-Educated
91%
High-School Grad
226.7 sq mi
ZIP Area
42
Density / Sq Mi
$54,500
Median Household Income
$35,179
Median Earnings
$1,096
Median Rent
$233,100
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Warehouse - Metal building includes roll-up doors, spray foam insulation, mini-split HVAC, and a large covered RV structure with utility hookups.
Where is this warehouse located?
The property is located at 390 Private Road 1507 Bandera, TX.
What is the asking price?
The asking price for this property is $152,700.
What are key features of this property?
This property features: Usable, level 0.2755‑acre lot in Holiday Villages of Medina, Texas Hill Country; 850 SF metal building with two commercial‑style roll‑up doors and large covered awning; Building is spray foam insulated (approx. 2.5 in) with two mini‑split HVAC systems totaling 3 tons
