Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    296 Wonder World Dr San Marcos, TX 78666

    • Commercial real estate
    • 3,250 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1796886
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 296 Wonder World Dr

    Property size
    3,250 SF
    Property type
    Commercial real estate

    Description

    This exceptional commercial property presents a unique investment opportunity in the thriving Hunter's Hill neighborhood of San Marcos, Texas. Situated on a two-acre lot, this 3,250-square-foot multi-tenant building offers significant potential for a variety of retail businesses. The property boasts a convenient drive-thru, a highly desirable feature for many retail concepts. Its strategic location, just 0.7 miles from Interstate 35, ensures excellent visibility and accessibility for customers. The building is currently vacant, providing a blank canvas for a new tenant to customize the space to their specific needs. The entire 3,250 square feet is available for lease. This property is ideally positioned within a retail corridor, benefiting from the proximity to other established businesses. The property's size and location make it an attractive option for businesses seeking high visibility and convenient access for their customers. Lease rates are available upon request. This is a rare opportunity to secure a prime retail space in a rapidly growing area. Contact us today to learn more about this exceptional property and discuss lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Marcos
    County
    Hays
    State
    Texas
    Longitude
    -97.960063
    Latitude
    29.862045

    Comparable in this City

    • $35 SF/Yr
      10,300 SF

      Sahota Center: San Marcos Retail

      Prime San Marcos retail space; drive-thru available.
      0 Mccarty Ln, San Marcos, TX 78666
      View Details
    • Contact for pricing
      185,000 SF

      San Marcos Retail Plaza - Hwy 80

      Massive 185,000 SF Retail Space Available
      900 Highway 80, San Marcos, TX 78666
      View Details
    • Contact for pricing
      1,583 SF

      Retail Space Near Texas State

      Retail space available near Texas State University.
      200 Springtown Way, San Marcos, TX 78666
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space Near Texas State

      Retail space available less than half a mile from university.
      221-225 C M Allen Pkwy, San Marcos, TX 78666
      View Details
    • Contact for pricing

      River Ridge Industrial Land Tract

      Highly visible industrial land for lease in San Marcos, TX.
      601 Carlson Cir, San Marcos, TX 78666
      View Details
    • $1,406 /Mo
      4,814 SF

      San Marcos Commercial Suites Available

      Versatile commercial suites for lease in central San Marcos.
      715 W Hopkins St, San Marcos, TX 78666
      View Details

    Similar Nearby for Sale

    • $1,599,900
      1.94 Acres

      San Marcos Mixed-Use Development Land

      1.94 acre mixed-use land with high visibility near IH-35.
      1322 N Interstate 35, San Marcos, TX 78666
      View Details
    • Contact for pricing
      4.75 Acres

      Prime San Marcos Commercial Land

      4.75 Acres, High Visibility Location
      0 Old Bastrop Rd, San Marcos, TX 78666
      View Details
    • Contact for pricing

      Land Available in San Marcos

      Land for sale at 2516 S Old Bastrop Hwy, San Marcos, TX.
      2516 S Old Bastrop Hwy, San Marcos, TX 78666
      View Details
    • $1,995,000

      Highway 80 Frontage Development Tract

      35-acre tract with Highway 80 frontage near San Marcos.
      133 Abernathy Ave, San Marcos, TX 78666
      View Details
    • $599,000

      Land For Sale

      Land available for purchase.
      000 Smith Ln, San Marcos, TX 78666
      View Details
    • $320,000

      San Marcos Land For Sale

      Land available in San Marcos, Texas.
      1141 Settlers Rd, San Marcos, TX 78666
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr
      10,300 SF

      Sahota Center: San Marcos Retail

      Prime San Marcos retail space; drive-thru available.
      0 Mccarty Ln, San Marcos, TX 78666
      View Details
    • Contact for pricing
      185,000 SF

      San Marcos Retail Plaza - Hwy 80

      Massive 185,000 SF Retail Space Available
      900 Highway 80, San Marcos, TX 78666
      View Details
    • Contact for pricing
      1,583 SF

      Retail Space Near Texas State

      Retail space available near Texas State University.
      200 Springtown Way, San Marcos, TX 78666
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space Near Texas State

      Retail space available less than half a mile from university.
      221-225 C M Allen Pkwy, San Marcos, TX 78666
      View Details
    • $40 SF/Yr
      3,320 SF

      Sahota Center Restaurant Space

      San Marcos, TX Restaurant - 3,320 SF
      0 Mccarty Ln, San Marcos, TX 78666
      View Details
    • Contact for pricing
      23,000 SF

      Retail Space in Power Center

      Retail space available in a well-established power center.
      1050 Mckinley Place Dr, San Marcos, TX 78666
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    296 Wonder World Dr
    San Marcos, TX 78666
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.