Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    549 April Dr Canyon Lake, TX 78133

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Unique resort property in Canyon Lake, Texas, with redevelopment potential.

    Property size:
    217,516 SF
    Lot size:
    18.00 Acres

    Property Features for 549 April Dr

    General Information

    Standard status
    Active
    Size
    217,516 SF
    Lot size
    18.00 Acres

    We can help!

    Listing Contact
    Jon Krebbs
    Source: Crexi

    Listing Agency: The Multifamily Group Listing Agent: Jon Krebbs

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Canyon Lake Resort Opportunity

    Located in Canyon Lake, Texas, The Hill Country Resorts presents an opportunity to acquire the "Northside" Presidential and Ambassador portion. Constructed between 2006 and 2015, this property features 144 two- and three-bedroom units, averaging 1,511 square feet. A lock-off feature in 132 units allows conversion into two separate units, potentially increasing the total unit count to 276. Formerly operated as a timeshare, the property is currently vacant. The property, totaling 217,516 square feet, is offered free and clear of any existing debt and is being sold free and clear of prior condominium/timeshare encumbrances. Potential business opportunities include selling individual units, offering short-term rentals, or leasing as multifamily apartments.
    Location Intelligence

    Current Use by Public Records

    Resorts

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Canyon Lake
    County
    Comal
    State
    Texas
    Longitude
    -98.210999
    Latitude
    29.912918

    Nearby Similar for Sale

    • $875,000
      640 SF

      Canyon Lake Commercial Opportunity

      2.64-acre commercial property near Guadalupe River and White Water amphitheater.
      14181 Fm 306, Canyon Lake, TX 78133
      View Details
    • $850,000
      3,157 SF

      Canyon Lake Commercial Building

      Commercial building with ample workspace on Startz Road.
      10221 Startz Rd, Canyon Lake, TX 78133
      View Details
    • New
      $595,000
      2,534 SF

      Versatile Income Property Near Canyon Lake

      Income-producing property near Canyon Lake with owner financing available.
      1251 Canyon Crk, Canyon Lake, TX 78133
      View Details
    • New
      $595,000
      2,534 SF

      Canyon Lake Triplex For Sale

      Fully leased triplex near Canyon Lake with owner financing.
      1251 Canyon Crk, Canyon Lake, TX 78133
      View Details
    • $799,000
      2,470 SF

      Canyon Lake Corner Commercial Property

      2.93-acre corner lot with high visibility and redevelopment potential.
      110 Maricopa Dr, Canyon Lake, TX 78133
      View Details
    • $1,299,900
      8,982 SF

      Canyon Lake Commercial Property For Sale

      Commercial property in New Braunfels area, ideal for distribution, logistics.
      180 Spring Mountain Dr, Canyon Lake, TX 78133
      View Details
    • $665,000
      Pending

      Sprawling Canyon Lake Retreat

      Private 8-acre retreat in the Texas Hill Country.
      689 Abels Way, Canyon Lake, TX 78133
      View Details
    • $850,000

      Commercial Building on Startz Road

      Commercial building with workspace on 0.88 acres.
      10221 Startz Rd, Canyon Lake, TX 78133
      View Details
    • $189,000
      1,168 SF

      Canyon Lake Multi-Family Unit

      Two-bedroom unit with attached garage near local amenities.
      306 Dietert Ln, Canyon Lake, TX 78133
      View Details
    • $250,000
      960 SF

      Canyon Lake Multi-Family Property

      Two leased single-family dwellings with room to build more.
      710 Inglewood Dr, Canyon Lake, TX 78133
      View Details
    • $1,299,900

      New Braunfels Industrial Property

      8,440 sq. ft. metal building on 1.579 acres.
      180 Spring Mountain Dr, Canyon Lake, TX 78133
      View Details
    • $118,000
      Pending

      Private Airport T Hangar

      T Hangar at Canyon Lake Airport for sale.
      900 Hancock Rd, Canyon Lake, TX 78133
      View Details

    FAQs

    What type of property is this?
    Apartment building - Unique resort property in Canyon Lake, Texas, with redevelopment potential.
    Where is this apartment building located?
    The property is located at 549 April Dr Canyon Lake, TX.
    What are key features of this property?
    This property features: - 144 large two- and three-bedroom units averaging 1,511 square feet.; - 132 units feature a lock-off design, potentially creating 276 rentable units.; - Property is offered free and clear of any existing debt.
    Request Owner's contact information
    549 April Dr Canyon Lake, TX 78133
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    549 April Dr
    Canyon Lake, TX 78133
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    549 April Dr Canyon Lake, TX 78133
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jon Krebbs
    Real Estate License ID: 9007084-BB
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!