Mixed-Use Property with Flexible
For Sale
$1,150,000
427 State Highway 27, Comfort, TX 78013
Multi-unit commercial property combining leased retail space with additional warehouse, studio, and lodging-style improvements.
Property Size3,335 SF
Price / SF$344.83
Days on Market28
Property Features for 427 State Highway 27
General Information
Standard status
Active
Size
3,335 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Warehouse Space
1,500 SF
Amenities
Mature trees
outdoor gathering areas
decks
garden-style spaces
Building Details
Year Built
2001
Tenancy
Multi
Listing Agency:
BHHS Hill Country Properties
(831) 241-1270
Listed By:
Lucas Barnett · License #TREC#0680134
Source:
Thebranchinc
Added: Aug 2
Changed: Aug 28
Last Checked: Aug 29 at 12:08PM
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 BHHS Hill Country Properties
Investment Insights
Based on property information with market context.
This mixed-use property at 427 State Highway 27 includes six rentable units across several commercial and small-format improvements. The improvements include an approximately 1,500 sq. ft. warehouse, an approximately 1,800 sq. ft. retail building leased to a spa and plant shop, an approximately 415 sq. ft. red metal building, and two tiny-house units measuring approximately 256 sq. ft. and 138 sq. ft. The warehouse, red metal building, and tiny houses are currently not leased.
Mature trees, decks, outdoor gathering areas, and garden-style spaces complement the property. Its Highway 27 frontage provides visibility, while the site is near Comfort’s historic district, shopping, dining, and local attractions. The property was built in 2001.
Mature trees, decks, outdoor gathering areas, and garden-style spaces complement the property. Its Highway 27 frontage provides visibility, while the site is near Comfort’s historic district, shopping, dining, and local attractions. The property was built in 2001.
Key Highlights
- Six rentable units across a mixed‑use commercial property
- Approximately 1,800 sq. ft. retail building leased to a spa and plant shop
- Approximately 1,500 sq. ft. warehouse currently not leased
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
$44,643
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
3.88%
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%
$892,860
$892.9K
Cap Rate 7%
$637,757
$637.8K
Cap Rate 9%
$496,033
$496.0K
Market Conditions
NOI Build-Up for 3,335 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
$66.4K $19.92/SF
− Vacancy
−$2.7K −$0.80/SF
EGI
$63.8K $19.12/SF
− OpEx
−$19.1K −$5.74/SF
NOI
$44.6K $13.39/SF
Area
Kendall County, TX
Vacancy
4.00%
Lease Rate
$19.92 /SF/Yr
Expense Ratio
30.00%
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%
$892,860
Cap Rate 7%
$637,757
Cap Rate 9%
$496,033
Alternative Uses
Best Use
Retail
$637.8K
$558.0K – $744.1K
NOI $44,643 @ 7.0% cap · market cap 3.88%
Second Best
Mixed Use
$628.9K
$550.3K – $733.7K
NOI $44,022 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$874.7K
$765.4K – $1.02M
NOI $61,231 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Explore this area
Business Placement
Demographics for 78013, TX
5,868
Population
2,571
Households
2.3
Avg Household Size
49
Median Age
34%
College-Educated
92%
High-School Grad
226.3 sq mi
ZIP Area
26
Density / Sq Mi
$79,770
Median Household Income
$45,151
Median Earnings
$960
Median Rent
$396,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-unit commercial property combining leased retail space with additional warehouse, studio, and lodging-style improvements.
Where is this mixed-use property located?
The property is located at 427 State Highway 27 Comfort, TX.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Six rentable units across a mixed‑use commercial property; Approximately 1,800 sq. ft. retail building leased to a spa and plant shop; Approximately 1,500 sq. ft. warehouse currently not leased
