Renovated Mixed-Use
For Sale
$1,250,000
114 N Main Street, Victoria, TX 77901
CommercialSale, Victoria, TX
Property Size15,724 SF
Lot Size0.06 Acres
Price / SF$79.50
Days on Market26
Property Features for 114 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Interior features
PullDownAtticStairs
Subdivision
Victoria
Lot features
Alley, City Lot, Views
Directions
On Main Street facing the middle of DeLeon Plaza.
Standard status
Active
APN
63258
Size
15,724 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
VICTORIA TIF 59610 LOT 7 BLOCK 128 1/2
Tax Annual Amount
6488
Legal Description
VICTORIA TIF 59610 LOT 7 BLOCK 128 1/2
Utilities
Water source
Public
Building Details
Year built
1918
Floors in Building
2
Flooring type
Concrete, Wood
Building materials
BrickVeneer
Listing Agency:
The Ron Brown Company
(361) 575-1446
Listed By:
Kelsey Hughes · License #0807326
(361) 433-5747
Added: Aug 3
Changed: Aug 22
Last Checked: Aug 28 at 6:06AM
MLS# 621434
Copyright © 2026 Central Texas Multiple Listing Service. 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 mixed-use building contains 15,724 square feet across multiple commercial areas. The property includes 114 N Main Street, where approximately 2,600 square feet has been updated for professional office use with seven private offices. At 110 N Main Street, approximately 5,000 square feet is configured for retail use with exposed ductwork and recent renovations. The upper level at 112 N Main Street offers an open interior with new flooring for a future build-out.
Constructed in 1918, the brick-veneer property occupies 0.064 acres and includes wood and concrete flooring. A TPO roof was installed in 2024, and the building is served by public water. The connected addresses provide a combination of office, retail, and adaptable commercial space within one downtown property.
Constructed in 1918, the brick-veneer property occupies 0.064 acres and includes wood and concrete flooring. A TPO roof was installed in 2024, and the building is served by public water. The connected addresses provide a combination of office, retail, and adaptable commercial space within one downtown property.
Key Highlights
- 15,724‑square‑foot mixed‑use property across multiple commercial areas
- Approximately 2,600 square feet of office space with 7 private offices at 114 N Main Street
- Approximately 5,000 square feet of retail space at 110 N Main Street
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
$106,892
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
8.55%
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%
$2,137,840
$2.1M
Cap Rate 7%
$1,527,029
$1.5M
Cap Rate 9%
$1,187,689
$1.2M
Market Conditions
NOI Build-Up for 15,724 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
$194.3K $12.36/SF
− Vacancy
−$23.3K −$1.48/SF
EGI
$171.0K $10.88/SF
− OpEx
−$64.1K −$4.08/SF
NOI
$106.9K $6.80/SF
Area
Victoria County, TX
Vacancy
12.00%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
37.50%
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%
$2,137,840
Cap Rate 7%
$1,527,029
Cap Rate 9%
$1,187,689
Alternative Uses
Best Use
Office B
$3.76M
$3.29M – $4.38M
NOI $263,016 @ 7.0% cap · market cap 21.04%
Second Best
Retail
$3.25M
$2.84M – $3.79M
NOI $227,207 @ 7.0% cap · market cap 18.18%
Theoretical Best
Multifamily LT 5
$172.74M
$151.15M – $201.54M
NOI $12,092,121 @ 7.0% cap · market cap 967.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,075
Businesses Nearby
Explore this area
Business Placement
Demographics for 77901, TX
40,062
Population
17,438
Households
2.3
Avg Household Size
35
Median Age
15%
College-Educated
76%
High-School Grad
18.1 sq mi
ZIP Area
2,213
Density / Sq Mi
$57,728
Median Household Income
$33,127
Median Earnings
$1,105
Median Rent
$133,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-level commercial property combines professional office suites, retail space, and an upper floor ready for customized build-out.
Where is this mixed-use property located?
The property is located at 114 N Main Street Victoria, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 15,724‑square‑foot mixed‑use property across multiple commercial areas; Approximately 2,600 square feet of office space with 7 private offices at 114 N Main Street; Approximately 5,000 square feet of retail space at 110 N Main Street
