Warehouse Property on Flag
For Sale
$310,000
824 County Road 451, Coupland, TX 78615
Approximately 10+/- acres featuring a 50x30 metal building, with electricity available and water at the street.
Property Size1,500 SF
Lot Size10.00 Acres
Price / SF$206.67
Days on Market180
Property Features for 824 County Road 451
General Information
Standard status
Active
Size
1,500 SF
Lot size
10.00 Acres
Property subtype
Farm
Additional Details
Utilities to Site
Yes
Listing Agency:
Keller Williams Realty Lone St
(512) 294-5024
Listed By:
Jazmin A. Gallardo · License #0775650
(512) 294-5024
Source:
Exprealty
Added: Feb 14
Changed: Aug 8
Last Checked: Jul 18 at 1:30AM
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 Keller Williams Realty Lone St
Investment Insights
Based on property information with market context.
This approximately 10+/- acre flag lot offers a private countryside setting and space to build or place a manufactured home, subject to restrictions. The property includes a 50x30 metal building suited for equipment, tools, storage, or workshop use while you plan your future improvements.
Utilities noted include electricity available and water available at the street, with a septic system required. The seller’s remarks indicate the property’s restrictions, utilities, and other details should be verified by the buyer and buyer’s agent.
Buyer’s agent to verify all information, including restrictions, utilities, schools, and property details.
Utilities noted include electricity available and water available at the street, with a septic system required. The seller’s remarks indicate the property’s restrictions, utilities, and other details should be verified by the buyer and buyer’s agent.
Buyer’s agent to verify all information, including restrictions, utilities, schools, and property details.
Key Highlights
- Approximately 10+/- acres in Coupland with a flag lot for added privacy
- Includes a 50x30 metal building for equipment, tools, storage, or workshop use
- Electricity is available on the property
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
$15,102
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
4.87%
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%
$302,040
$302.0K
Cap Rate 7%
$215,743
$215.7K
Cap Rate 9%
$167,800
$167.8K
Market Conditions
NOI Build-Up for 1,500 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
$22.3K $14.88/SF
− Vacancy
−$4.6K −$3.04/SF
EGI
$17.8K $11.84/SF
− OpEx
−$2.7K −$1.78/SF
NOI
$15.1K $10.07/SF
Area
Williamson 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%
$302,040
Cap Rate 7%
$215,743
Cap Rate 9%
$167,800
Alternative Uses
Best Use
Warehouse
$215.7K
$188.8K – $251.7K
NOI $15,102 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$627.0K
$548.7K – $731.6K
NOI $43,893 @ 7.0% cap · market cap 14.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 78615, TX
1,694
Population
491
Households
3.5
Avg Household Size
39
Median Age
27%
College-Educated
89%
High-School Grad
54.5 sq mi
ZIP Area
31
Density / Sq Mi
$112,805
Median Household Income
$51,202
Median Earnings
$817
Median Rent
$348,900
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?
Residential land & home lot - Approximately 10+/- acres featuring a 50x30 metal building, with electricity available and water at the street.
Where is this residential land & home lot located?
The property is located at 824 County Road 451 Coupland, TX.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Approximately 10+/- acres in Coupland with a flag lot for added privacy; Includes a 50x30 metal building for equipment, tools, storage, or workshop use; Electricity is available on the property
