Industrial Flex
New
For Sale
$1,000,000
400 Windy Hill School Rd, Georgetown, TX 78626
Office, warehouse, and industrial improvements with yard area near I-35 support flexible commercial operations.
Property Size3,992 SF
Lot Size1.81 Acres
Days on Market3
Property Features for 400 Windy Hill School Rd
General Information
Standard status
Active
Size
3,992 SF
Lot size
1.81 Acres
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$18,092
Building Details
Building Size
3,992 SF
Year Built
1985
Listing Agency:
KW Commercial
(512) 784-2345
Listed By:
Alice Duffy · License #0681288
(512) 784-2345
Source:
Elliman
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 8:42PM
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 KW Commercial
Investment Insights
Based on property information with market context.
Built in 1985, this flex property combines office, warehouse, and industrial space on approximately 1.81 acres spanning two parcels. The layout is positioned for small-business operations, owner-user occupancy, or investment use, while the surrounding yard area provides room for additional parking, outdoor storage, or future improvements.
The property is located at 400 Windy Hill School Rd in Georgetown, just off I-35. A cabinet business occupies part of the property on a month-to-month basis, providing an existing occupancy component within the overall asset.
The property is located at 400 Windy Hill School Rd in Georgetown, just off I-35. A cabinet business occupies part of the property on a month-to-month basis, providing an existing occupancy component within the overall asset.
Key Highlights
- Approximately 1.81 acres across two parcels
- Office, warehouse, and industrial flex configuration
- Yard area with room for additional parking, outdoor storage, or future improvements
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
$40,191
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
4.02%
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%
$803,820
$803.8K
Cap Rate 7%
$574,157
$574.2K
Cap Rate 9%
$446,567
$446.6K
Market Conditions
NOI Build-Up for 3,992 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
$59.4K $14.88/SF
− Vacancy
−$12.1K −$3.04/SF
EGI
$47.3K $11.84/SF
− OpEx
−$7.1K −$1.78/SF
NOI
$40.2K $10.07/SF
Area
Williamson County, TX
Vacancy
20.40%
Lease Rate
$14.88 /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%
$803,820
Cap Rate 7%
$574,157
Cap Rate 9%
$446,567
Alternative Uses
Best Use
Office B
$1.36M
$1.19M – $1.59M
NOI $95,191 @ 7.0% cap · market cap 9.52%
Second Best
Warehouse
$574.2K
$502.4K – $669.9K
NOI $40,191 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,813 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78626, TX
39,935
Population
16,866
Households
2.4
Avg Household Size
34
Median Age
36%
College-Educated
90%
High-School Grad
88.6 sq mi
ZIP Area
451
Density / Sq Mi
$94,967
Median Household Income
$44,955
Median Earnings
$1,752
Median Rent
$358,500
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 - Office, warehouse, and industrial improvements with yard area near I-35 support flexible commercial operations.
Where is this flex space located?
The property is located at 400 Windy Hill School Rd Georgetown, TX.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Approximately 1.81 acres across two parcels; Office, warehouse, and industrial flex configuration; Yard area with room for additional parking, outdoor storage, or future improvements
