Mixed-Use Property with Garage
New
For Sale
$625,000
804 Canyon Wren Dr, Buda, TX 78610
Approximately one-acre site with multiple structures and unrestricted use in Buda’s ETJ.
Property Size2,212 SF
Lot Size1.00 Acre
Days on Market2
Property Features for 804 Canyon Wren Dr
General Information
Standard status
Active
Size
2,212 SF
Lot size
1.00 Acre
Property subtype
Commercial
Property Condition
Severity
Repairs Needed
Evidence
needs renovation
Additional Details
Asking Price
$625,000
Taxes and HOA fees
Annual Taxes
$10,961
Amenities
detached garage
garage apartment
Building Details
Building Size
2,212 SF
Year Built
1993
Listing Agency:
(512) 905-6464
Listed By:
Leza Gan
(512) 905-6464
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 5:26AM
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 Leza Gan
Investment Insights
Based on property information with market context.
This mixed-use property occupies approximately one acre in Buda’s ETJ and includes several existing structures. Improvements include an unfinished area suitable for customization, a detached garage, and a separate garage apartment. The property was built in 1993 and requires renovation, allowing future improvements to be planned around the intended use.
The site is near the FM 967 and FM 1626 commercial corridors, with space available for parking and outdoor use. Unrestricted use and the absence of an HOA provide flexibility for a small business, owner-user operation, or live/work configuration. Two contractor estimates are included in the MLS documents to provide renovation scope options for buyer review.
The site is near the FM 967 and FM 1626 commercial corridors, with space available for parking and outdoor use. Unrestricted use and the absence of an HOA provide flexibility for a small business, owner-user operation, or live/work configuration. Two contractor estimates are included in the MLS documents to provide renovation scope options for buyer review.
Key Highlights
- Approximately one‑acre mixed‑use property in Buda’s ETJ
- Unrestricted use with no HOA
- Multiple structures, including an unfinished area and detached garage
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
$52,746
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
8.44%
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%
$1,054,920
$1.1M
Cap Rate 7%
$753,514
$753.5K
Cap Rate 9%
$586,067
$586.1K
Market Conditions
NOI Build-Up for 2,212 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
$92.9K $42.00/SF
− Vacancy
−$22.6K −$10.21/SF
EGI
$70.3K $31.79/SF
− OpEx
−$17.6K −$7.95/SF
NOI
$52.7K $23.85/SF
Area
Hays County, TX
Vacancy
24.30%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,054,920
Cap Rate 7%
$753,514
Cap Rate 9%
$586,067
Alternative Uses
Best Use
Office B
$753.5K
$659.3K – $879.1K
NOI $52,746 @ 7.0% cap · market cap 8.44%
Second Best
Mixed Use
$426.6K
$373.3K – $497.7K
NOI $29,862 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$924.7K
$809.1K – $1.08M
NOI $64,727 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Explore this area
Business Placement
Demographics for 78610, TX
45,134
Population
17,271
Households
2.6
Avg Household Size
35
Median Age
42%
College-Educated
91%
High-School Grad
96.9 sq mi
ZIP Area
466
Density / Sq Mi
$110,417
Median Household Income
$58,770
Median Earnings
$1,736
Median Rent
$379,300
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?
Mixed-use property - Approximately one-acre site with multiple structures and unrestricted use in Buda’s ETJ.
Where is this mixed-use property located?
The property is located at 804 Canyon Wren Dr Buda, TX.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Approximately one‑acre mixed‑use property in Buda’s ETJ; Unrestricted use with no HOA; Multiple structures, including an unfinished area and detached garage
