Historic Office
For Sale
Contact for pricing
980 Old Boerne Rd, Bulverde, TX 78163
Distinctive architectural details include a welcoming porch, wood flooring, and a cypress-ceilinged den.
Property Size2,448 SF
Lot Size1.28 Acres
Price / SF$326.80
Days on Market221
Property Features for 980 Old Boerne Rd
General Information
Standard status
Active
Size
2,448 SF
Lot size
1.28 Acres
Property subtype
Office, Hospitality
Amenities
automatic gates
long welcoming porch
cedar-lined closets
longleaf red pine flooring
dramatic cypress ceiling
claw-foot tub
koi pond
Building Details
Year Built
1920
Construction
King William-style
Listing Agency:
Magnolia Realty
Listed By:
Kristy Williams · License #835480
Source:
Crexi
Added: Jan 23
Changed: Aug 31
Last Checked: Aug 30 at 11:37PM
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 Magnolia Realty
Investment Insights
Based on property information with market context.
Built in 1920, this office property combines a historic King William-style design with approximately 1.284 unrestricted acres. Automatic gates lead to a setting with a broad front porch and interior details that include longleaf red pine floors, cedar-lined closets, and a den finished with a cypress ceiling. A claw-foot tub adds another distinctive feature to the building.
Located at 980 Old Boerne Rd in Bulverde, the property offers a character-rich setting for professional, wellness, or boutique commercial use. The unrestricted status supports a range of potential configurations, while the grounds include a koi pond and space that can accommodate parking and outdoor use. The combination of architectural character, acreage, and flexible land-use conditions gives the property a distinct office environment.
Located at 980 Old Boerne Rd in Bulverde, the property offers a character-rich setting for professional, wellness, or boutique commercial use. The unrestricted status supports a range of potential configurations, while the grounds include a koi pond and space that can accommodate parking and outdoor use. The combination of architectural character, acreage, and flexible land-use conditions gives the property a distinct office environment.
Key Highlights
- Approximately 1.284 unrestricted acres in Bulverde
- 1920 construction with King William‑style architectural character
- Automatic gated access and a welcoming front porch
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
$33,363
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
4.17%
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%
$667,260
$667.3K
Cap Rate 7%
$476,614
$476.6K
Cap Rate 9%
$370,700
$370.7K
Market Conditions
NOI Build-Up for 2,448 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
$54.1K $22.08/SF
− Vacancy
−$9.6K −$3.91/SF
EGI
$44.5K $18.17/SF
− OpEx
−$11.1K −$4.54/SF
NOI
$33.4K $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%
$667,260
Cap Rate 7%
$476,614
Cap Rate 9%
$370,700
Alternative Uses
Best Use
Office B
$476.6K
$417.0K – $556.1K
NOI $33,363 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$624.4K
$546.4K – $728.5K
NOI $43,711 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Explore this area
Business Placement
Demographics for 78163, TX
13,960
Population
6,609
Households
2.1
Avg Household Size
45
Median Age
48%
College-Educated
95%
High-School Grad
74.8 sq mi
ZIP Area
187
Density / Sq Mi
$133,681
Median Household Income
$63,396
Median Earnings
$1,406
Median Rent
$431,100
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 building - Distinctive architectural details include a welcoming porch, wood flooring, and a cypress-ceilinged den.
Where is this office building located?
The property is located at 980 Old Boerne Rd Bulverde, TX.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Approximately 1.284 unrestricted acres in Bulverde; 1920 construction with King William‑style architectural character; Automatic gated access and a welcoming front porch
