Four-Building Office
For Sale
$3,200,000
916-930 E Blanco Rd, Boerne, TX 78006
Five leasable office units across four buildings on a 1.32-acre lot, zoned O1 for professional office use.
Property Size12,877 SF
Lot Size1.32 Acres
Days on Market70
Property Features for 916-930 E Blanco Rd
General Information
Standard status
Active
Size
12,877 SF
Class
C
Lot size
1.32 Acres
Property subtype
Commercial Office
Zoning
O1
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
5
Building Details
Building Size
12,877 SF
Year Built
2011
Listing Agency:
Lockwood Realty Group, LLC
Listed By:
Luke Owens-Bragg · License #670935
(210) 451-0143
Source:
Lockwoodrealtygroup
Added: Jun 25
Changed: Sep 2
Last Checked: Sep 1 at 4:58PM
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 Lockwood Realty Group, LLC
Investment Insights
Based on property information with market context.
This office portfolio is set on a 1.32-acre lot and includes four separate buildings with five leasable units, zoned O1 for professional office use. The property configuration provides multiple income-producing spaces while maintaining a cohesive office-oriented setup.
The asset offers excellent frontage and visibility along E Blanco Rd, with convenient access to Main St and I-10. It is presented for sale as a fit for either investors or owner-occupants looking for professional office space in a multi-building format.
With five total office units across four buildings, the property may support a range of lease-up and occupancy strategies within the constraints of the stated O1 professional office zoning.
The asset offers excellent frontage and visibility along E Blanco Rd, with convenient access to Main St and I-10. It is presented for sale as a fit for either investors or owner-occupants looking for professional office space in a multi-building format.
With five total office units across four buildings, the property may support a range of lease-up and occupancy strategies within the constraints of the stated O1 professional office zoning.
Key Highlights
- 1.32‑acre lot with four buildings and five leasable office units
- Zoned O1 for professional office use
- Convenient access to Main St. and I‑10
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
$175,499
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
5.48%
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%
$3,509,980
$3.5M
Cap Rate 7%
$2,507,129
$2.5M
Cap Rate 9%
$1,949,989
$1.9M
Market Conditions
NOI Build-Up for 12,877 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
$284.3K $22.08/SF
− Vacancy
−$50.3K −$3.91/SF
EGI
$234.0K $18.17/SF
− OpEx
−$58.5K −$4.54/SF
NOI
$175.5K $13.63/SF
Area
Kendall 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%
$3,509,980
Cap Rate 7%
$2,507,129
Cap Rate 9%
$1,949,989
Alternative Uses
Best Use
Office B
$2.51M
$2.19M – $2.92M
NOI $175,499 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.38M
$2.96M – $3.94M
NOI $236,422 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,151
Businesses Nearby
Explore this area
Business Placement
Demographics for 78006, TX
40,979
Population
16,643
Households
2.5
Avg Household Size
44
Median Age
51%
College-Educated
94%
High-School Grad
345.9 sq mi
ZIP Area
118
Density / Sq Mi
$110,955
Median Household Income
$51,943
Median Earnings
$1,612
Median Rent
$502,700
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?
Office units - Five leasable office units across four buildings on a 1.32-acre lot, zoned O1 for professional office use.
Where is this office units located?
The property is located at 916-930 E Blanco Rd Boerne, TX.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 1.32‑acre lot with four buildings and five leasable office units; Zoned O1 for professional office use; Convenient access to Main St. and I‑10
