Historic Three-Unit Retail
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For Sale
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5441 FM 1102, New Braunfels, TX 78132
Historic commercial building arranged as three units with potential for hospitality or full-service business uses.
Property Size3,414 SF
Price / SF$468.66
Days on Market7
Property Features for 5441 FM 1102
General Information
Standard status
Active
Size
3,414 SF
Property subtype
RETAIL
Building Details
Year Built
1865
Listing Agency:
Reliance Commercial Property Services
(830) 822-2548
Listed By:
Jonathan Haag · License #9001349
(830) 822-2548
Source:
Moodyscre
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 31 at 12:06AM
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 Reliance Commercial Property Services
Investment Insights
Based on property information with market context.
This retail storefront property is arranged as three units within a building constructed in 1865. The configuration offers separate commercial spaces and is identified as suitable for hospitality or full-service business operations, subject to applicable requirements.
The property is located at 5441 FM 1102 in New Braunfels, Texas. Its established building character and multi-unit layout provide a foundation for adapting the space to a range of commercial concepts.
The property is located at 5441 FM 1102 in New Braunfels, Texas. Its established building character and multi-unit layout provide a foundation for adapting the space to a range of commercial concepts.
Key Highlights
- Three‑unit commercial configuration
- Building constructed in 1865
- Storefront property suited to retail use
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
$45,701
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
2.86%
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%
$914,020
$914.0K
Cap Rate 7%
$652,871
$652.9K
Cap Rate 9%
$507,789
$507.8K
Market Conditions
NOI Build-Up for 3,414 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
$68.0K $19.92/SF
− Vacancy
−$2.7K −$0.80/SF
EGI
$65.3K $19.12/SF
− OpEx
−$19.6K −$5.74/SF
NOI
$45.7K $13.39/SF
Area
Comal 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%
$914,020
Cap Rate 7%
$652,871
Cap Rate 9%
$507,789
Alternative Uses
Best Use
Retail
$652.9K
$571.3K – $761.7K
NOI $45,701 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$870.9K
$762.0K – $1.02M
NOI $60,960 @ 7.0% cap · market cap 3.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78132, TX
37,475
Population
15,356
Households
2.4
Avg Household Size
43
Median Age
53%
College-Educated
96%
High-School Grad
179.3 sq mi
ZIP Area
209
Density / Sq Mi
$126,934
Median Household Income
$63,870
Median Earnings
$1,531
Median Rent
$570,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Historic commercial building arranged as three units with potential for hospitality or full-service business uses.
Where is this storefront property located?
The property is located at 5441 FM 1102 New Braunfels, TX.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Three‑unit commercial configuration; Building constructed in 1865; Storefront property suited to retail use
