Retail Space For
For Sale
Contact for pricing
21320 I-35, Kyle, TX 78640
Prime retail space available for purchase.
Property Size18,967 SF
Price / SF$474.51
Days on Market1125
Property Features for 21320 I-35
General Information
Standard status
Active
Size
18,967 SF
Property subtype
Retail
Listing Agency:
SRS Real Estate Partners DALLAS/FT. WORTH
Listed By:
Ryan Johnson · License #TX 525292
(214) 560-3285
Source:
Crexi
Added: Aug 10, 2023
Changed: Sep 3
Last Checked: Sep 7 at 12:00PM
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
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 = 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
$333,976
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
3.71%
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%
$6,679,520
$6.7M
Cap Rate 7%
$4,771,086
$4.8M
Cap Rate 9%
$3,710,844
$3.7M
Market Conditions
NOI Build-Up for 18,967 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
$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 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%
$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
NOI $333,976 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.93M
$6.94M – $9.25M
NOI $555,008 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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 $9,000,000.
What are key features of this property?
This property features: For Sale
