Freestanding Bank Building with
1031 Us Highway Portland, TX 78374
For Sale
$1,489,999
SINGLE_FAMILY - Portland, TX
Property Size6,461 SF
Lot Size1.09 Acres
Price / SF$230.61
Days on Market191
Property Features for 1031 Us Highway
General Information
- Property type
- Residential
- Property subtype
- Office
- Parking features
- Off Street
- Standard status
- Active
- APN
- 69582
- Size
- 6,461 SF
- Lot size
- 1.09 Acres
Taxes and HOA fees
- Tax Description
- PORTLAND PLAZA UNIT D LOT 1
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central, Electric (Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1974
- Floors in Building
- 2
- Building materials
- Concrete
- Roof type
- Flat
Listing Agency:
Mirabal Montalvo & Associates
(361) 994-1140
Listed By:
James Mirabal · License #0481796
(361) 774-4137
Added: Jan 13
Changed: Jun 28
Last Checked: Jul 23 at 11:06AM
MLS# 469895
Copyright © 2026 South Texas Multiple Listing Service, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding, two-story concrete former bank building is offered for sale with a functional mix of private offices and open working areas. The property features roll-down storm shutters, a grand lobby entry with soaring ceilings, and floor-to-ceiling glass. An existing teller line and a secure vault area are also in place and may be repurposed for storage or specialty uses. The first floor includes several private offices, a large open lobby/work area, storage, one restroom, and a covered drive-through component with three drive-through lanes plus one dedicated ATM lane. The second floor provides conference rooms, additional offices, a mechanical room, a dedicated network/server room, break area, two restrooms, and multiple storage areas.
Set along heavily traveled US Highway 181 in Portland, Texas, the property offers approximately 186 feet of frontage and expansive paved parking fields in both the front and rear of the site. The existing on-site circulation supports customer or employee access from multiple directions, aligning well with retail and service traffic patterns described for the corridor.
The ready-made bank/office configuration can support financial, professional, or general office and retail users, with the drive-through and teller/vault spaces offering flexibility for tenant-specific needs. For owner-occupants or buyers seeking a prominent highway presence, the combination of multi-level office space, covered drive-through lanes, and on-site parking provides a practical platform for repurposing within a durable, solidly built structure.
Set along heavily traveled US Highway 181 in Portland, Texas, the property offers approximately 186 feet of frontage and expansive paved parking fields in both the front and rear of the site. The existing on-site circulation supports customer or employee access from multiple directions, aligning well with retail and service traffic patterns described for the corridor.
The ready-made bank/office configuration can support financial, professional, or general office and retail users, with the drive-through and teller/vault spaces offering flexibility for tenant-specific needs. For owner-occupants or buyers seeking a prominent highway presence, the combination of multi-level office space, covered drive-through lanes, and on-site parking provides a practical platform for repurposing within a durable, solidly built structure.
Key Highlights
- Freestanding former Wells Fargo two‑story bank building with concrete construction, built in 1974
- Approx. 1.09 acres with about 186 ft of frontage on US Highway 181 and expansive paved parking fields front and rear
- Flat roof plus central heating and central air conditioning; public water and public sewer
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $161.3k | $24.96 |
| − Vacancy | −$8.1k | −$1.25 |
| EGI | $153.2k | $23.71 |
| − OpEx | −$38.3k | −$5.93 |
| NOI | $114.9k | $17.78 |
6,461 SF · lease $24.96/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.64M
$1.44M – $1.92M
NOI $114,902 @ 7.0% cap · market cap 7.71%
Second Best
Office B
$1.19M
$1.04M – $1.39M
NOI $83,588 @ 7.0% cap · market cap 5.61%
Theoretical Best
Hotel Hospitality
$3.31M
$2.90M – $3.87M
NOI $232,015 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Two-story concrete former bank with a covered multi-lane drive-through and expansive parking for office or retail use.
Where is this office building located?
The property is located at 1031 Us Highway Portland, TX.
What is the asking price?
The asking price for this property is $1,489,999.
What are key features of this property?
This property features: Freestanding former Wells Fargo two‑story bank building with concrete construction, built in 1974; Approx. 1.09 acres with about 186 ft of frontage on US Highway 181 and expansive paved parking fields front and rear; Flat roof plus central heating and central air conditioning; public water and public sewer
