Flex Property with
For Sale
$585,000
426 State Highway 21 W Unit A, Cedar Creek, TX 78612
Flex property on State Highway 21 with a residence and a well-maintained cabinet shop plus ample on-site parking.
Property Size3,369 SF
Lot Size0.97 Acres
Days on Market118
Property Features for 426 State Highway 21 W Unit A
General Information
Standard status
Active
Size
3,369 SF
Lot size
0.97 Acres
Property subtype
Mixed Use
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,781
Building Details
Building Size
3,369 SF
Listing Agency:
Lori Haring Realty
Listed By:
Lori Haring · License #0612961
(512) 844-6535
Source:
Teamwestre
Added: May 11
Changed: Aug 27
Last Checked: Sep 4 at 11:58AM
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 Lori Haring Realty
Investment Insights
Based on property information with market context.
This for-sale flex property includes a shop space currently operating as a custom cabinet shop, described as clean, organized, and well maintained. The improvements also feature a 3-bedroom, 2-bath residence, offering options for owner-occupancy or additional rental income. With room for customer access and ample on-site parking, the setup supports a range of commercial and mixed-use uses, including office, retail, service-based business, or live/work use.
The property is located on highly visible State Highway 21 in Cedar Creek, with easy access and steady traffic flow based on the public remarks.
Suite B at 426 State Hwy 21 is situated on approximately 0.969 acres and is positioned for strong day-to-day visibility along the highway.
The property is located on highly visible State Highway 21 in Cedar Creek, with easy access and steady traffic flow based on the public remarks.
Suite B at 426 State Hwy 21 is situated on approximately 0.969 acres and is positioned for strong day-to-day visibility along the highway.
Key Highlights
- Suite B at 426 State Hwy 21 offers a mix of commercial space and a residence on approx. 0.969 acres on highly visible SH 21.
- 3‑bedroom, 2‑bath residence on‑site, offering flexibility for owner‑occupancy or additional rental income.
- Well‑maintained custom cabinet shop suitable for trades, workshop use, or business operations.
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
$33,918
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
5.80%
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%
$678,360
$678.4K
Cap Rate 7%
$484,543
$484.5K
Cap Rate 9%
$376,867
$376.9K
Market Conditions
NOI Build-Up for 3,369 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
$50.1K $14.88/SF
− Vacancy
−$10.2K −$3.04/SF
EGI
$39.9K $11.84/SF
− OpEx
−$6.0K −$1.78/SF
NOI
$33.9K $10.07/SF
Area
Bastrop 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%
$678,360
Cap Rate 7%
$484,543
Cap Rate 9%
$376,867
Alternative Uses
Best Use
Office B
$1.15M
$1.00M – $1.34M
NOI $80,335 @ 7.0% cap · market cap 13.73%
Second Best
Mixed Use
$794.1K
$694.9K – $926.5K
NOI $55,589 @ 7.0% cap · market cap 9.50%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,414 @ 7.0% cap · market cap 15.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78612, TX
16,265
Population
5,981
Households
2.7
Avg Household Size
37
Median Age
21%
College-Educated
74%
High-School Grad
99.1 sq mi
ZIP Area
164
Density / Sq Mi
$90,925
Median Household Income
$39,263
Median Earnings
$1,642
Median Rent
$239,100
Median Home Value
Market
Vacancy Rate% for Office 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?
Flex space - Flex property on State Highway 21 with a residence and a well-maintained cabinet shop plus ample on-site parking.
Where is this flex space located?
The property is located at 426 State Highway 21 W Unit A Cedar Creek, TX.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Suite B at 426 State Hwy 21 offers a mix of commercial space and a residence on approx. 0.969 acres on highly visible SH 21.; 3‑bedroom, 2‑bath residence on‑site, offering flexibility for owner‑occupancy or additional rental income.; Well‑maintained custom cabinet shop suitable for trades, workshop use, or business operations.
