Unrestricted Live-Work
For Sale
$299,900
8251 Fm 2673, Canyon Lake, TX 78133
CommercialSale, Canyon Lake, TX
Property Size1,732 SF
Lot Size0.79 Acres
Price / SF$173.15
Days on Market100
Property Features for 8251 Fm 2673
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Driveway
Interior features
PullDownAtticStairs
Lot features
Level, Mature Trees, Outside City Limits, Half To One Acre Lot
Elementary school district
Comal ISD
Middle school district
Comal ISD
High school district
Comal ISD
Directions
From 281 N go right on Fm 311, take left on FM 3159, left on Startz Rd, sharp right after gas station on the right on Fm2673, turn right and property is on the right
Standard status
Active
APN
363553
Size
1,732 SF
Lot size
0.79 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
A-450 SUR-433 G PACE, ACRES .785
Tax Annual Amount
6681
Legal Description
A-450 SUR-433 G PACE, ACRES .785
Utilities
Sewer type
Septic Tank
Building Details
Year built
2006
Floors in Building
1
Flooring type
Tile
Building materials
Frame
Roof type
Composition, Shingle
Listing Agency:
C R Phoenix Real Estate
(830) 387-1428
Listed By:
Gary Rutten · License #0210785
(830) 387-1428
Added: May 16
Changed: Aug 20
Last Checked: Aug 23 at 1:06AM
MLS# 613224
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This unrestricted live-work property includes an existing home on a developed parcel, offering flexibility for renovation, rental, or immediate occupancy. Additional on-site infrastructure includes an extra electrical service and water meter associated with an old home that was removed. The septic system was replaced in 2022; it was designed for an additional RV site, though the RV-related infrastructure was not installed. A floor plan provided by the prior owner is available for reference and may not be fully accurate.
The property is located off FM 2673 with easy access and visibility along the corridor. The listing notes proximity to Canyon Lake and nearby dining and recreation, and identifies multiple businesses within a half mile or less.
The site also features an 8’x8’ double-sided billboard, supporting brand visibility for a variety of business uses. Buyer to verify all information within the listing and is responsible for all due diligence.
The property is located off FM 2673 with easy access and visibility along the corridor. The listing notes proximity to Canyon Lake and nearby dining and recreation, and identifies multiple businesses within a half mile or less.
The site also features an 8’x8’ double-sided billboard, supporting brand visibility for a variety of business uses. Buyer to verify all information within the listing and is responsible for all due diligence.
Key Highlights
- Unrestricted live/work property on FM 2673 in the Startzville area
- Year built 2006 home with frame construction, tile flooring, and composition/shingle roof
- Septic tank replaced in 2022; septic was designed for an additional RV site (RV infrastructure not installed)
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
$23,605
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
7.87%
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%
$472,100
$472.1K
Cap Rate 7%
$337,214
$337.2K
Cap Rate 9%
$262,278
$262.3K
Market Conditions
NOI Build-Up for 1,732 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
$38.2K $22.08/SF
− Vacancy
−$6.8K −$3.91/SF
EGI
$31.5K $18.17/SF
− OpEx
−$7.9K −$4.54/SF
NOI
$23.6K $13.63/SF
Area
Comal County, TX
Vacancy
17.70%
Lease Rate
$22.08 /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%
$472,100
Cap Rate 7%
$337,214
Cap Rate 9%
$262,278
Alternative Uses
Best Use
Office B
$337.2K
$295.1K – $393.4K
NOI $23,605 @ 7.0% cap · market cap 7.87%
Second Best
Mixed Use
$326.6K
$285.8K – $381.0K
NOI $22,862 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$441.8K
$386.6K – $515.4K
NOI $30,926 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Explore this area
Business Placement
Demographics for 78133, TX
20,787
Population
11,208
Households
1.9
Avg Household Size
52
Median Age
33%
College-Educated
94%
High-School Grad
75.5 sq mi
ZIP Area
275
Density / Sq Mi
$80,777
Median Household Income
$45,470
Median Earnings
$1,236
Median Rent
$300,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Unrestricted property with an existing home, updated septic, and an 8-by-8 double-sided billboard.
Where is this live-work space located?
The property is located at 8251 Fm 2673 Canyon Lake, TX.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Unrestricted live/work property on FM 2673 in the Startzville area; Year built 2006 home with frame construction, tile flooring, and composition/shingle roof; Septic tank replaced in 2022; septic was designed for an additional RV site (RV infrastructure not installed)
