Listing Agency: SRS Real Estate Partners DALLAS/FT. WORTH

Listed By: Ryan Johnson · License #TX 525292 Show Phone

Source: Crexi

Added: Aug 10, 2023 Changed: Oct 19 Last Checked: Oct 20 at 5:51PM

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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 SRS Real Estate Partners DALLAS/FT. WORTH

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This retail space, encompassing 18967 square feet, is available for sale. The property is located in Kyle, Texas.

Key Highlights

• For Sale

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$333,976

Cap Rate

4.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,679,520 $6.7M

Cap Rate 7%

$4,771,086 $4.8M

Cap Rate 9%

$3,710,844 $3.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 18,967 SF

Gross rent

$493.9K $26.04/SF

− Vacancy

−$16.8K −$0.89/SF

EGI

$477.1K $25.15/SF

− OpEx

−$143.1K −$7.55/SF

NOI

$334.0K $17.61/SF

Area

Hays County, TX

Vacancy

3.40%

Lease Rate

$26.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,679,520

Cap Rate 7%

$4,771,086

Cap Rate 9%

$3,710,844

Alternative Uses

Best Use

Retail

$4.77M

$4.17M – $5.57M (±1% cap)

NOI $333,976 @ 7.0% cap · market cap 4.34%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$7.93M

$6.94M – $9.25M (±1% cap)

NOI $555,008 @ 7.0% cap · market cap 7.21%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Retail space

Location Intelligence

Trade Area within ½ mile

90

Businesses Nearby

Explore this area Business Placement

Demographics for 78640, TX

64,539

Population

25,236

Households

2.6

Avg Household Size

33

Median Age

29%

College-Educated

87%

High-School Grad

89.6 sq mi

ZIP Area

720

Density / Sq Mi

$88,533

Median Household Income

$45,439

Median Earnings

$1,572

Median Rent

$291,100

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Prime retail space available for purchase.

Where is this retail space located?

The property is located at 21320 I-35 Kyle, TX.

What is the asking price?

The asking price for this property is $7,700,000.

What are key features of this property?

This property features: For Sale