Two-Suite Office and Retail
1605 US Highway Portland, TX 78374
For Sale
$950,000
SINGLE_FAMILY - Portland, TX
Property Size5,500 SF
Lot Size0.48 Acres
Price / SF$172.73
Days on Market331
Property Features for 1605 US Highway
General Information
- Property type
- Residential
- Property subtype
- Office
- Zoning
- C-G
- Standard status
- Active
- APN
- 1046118
- Size
- 5,500 SF
- Lot size
- 0.48 Acres
Taxes and HOA fees
- Tax Description
- OAK RIDGE ESTATES UNIT 7 BLK 3 LOT 5B
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2002
- Floors in Building
- 1
Listing Agency:
Cobb, Lundquist & Atnip, Inc.
(361) 854-4448
Listed By:
Wayne Lundquist · License #0163197
(361) 510-7371
Added: Aug 28, 2025
Changed: Jul 14
Last Checked: Jul 24 at 7:06AM
MLS# 464122
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 for-sale property offers two available suites within a multi-suite office and retail setup, suited for a tenant looking for either office or retail space. The building includes ample parking and features a pole sign for visibility. An access road provides frontage for the suites, supporting straightforward customer and employee access.
The property is conveniently located between Billy Webb Dr. and Lang Rd., with nearby businesses and surrounding residential homes and apartments. The listing notes that there are 2 tenants in three remaining suites.
Zoned C-G, the building’s configuration is designed to accommodate office or retail operations across multiple suites, with current occupancy already in place.
The property is conveniently located between Billy Webb Dr. and Lang Rd., with nearby businesses and surrounding residential homes and apartments. The listing notes that there are 2 tenants in three remaining suites.
Zoned C-G, the building’s configuration is designed to accommodate office or retail operations across multiple suites, with current occupancy already in place.
Key Highlights
- Two suites available for lease for office or retail use
- Central heating and central air conditioning
- Year built 2002
Financial Insights For Office B
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 | $130.7k | $23.76 |
| − Vacancy | −$35.8k | −$6.51 |
| EGI | $94.9k | $17.25 |
| − OpEx | −$23.7k | −$4.31 |
| NOI | $71.2k | $12.94 |
5,500 SF · lease $23.76/SF/yr · vacancy 27.40% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.02M
$889.4K – $1.19M
NOI $71,155 @ 7.0% cap · market cap 7.49%
Second Best
Retail
$352.2K
$308.2K – $410.9K
NOI $24,652 @ 7.0% cap · market cap 2.59%
Theoretical Best
Hotel Hospitality
$2.82M
$2.47M – $3.29M
NOI $197,505 @ 7.0% cap · market cap 20.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
FAQs
What type of property is this?
Office units - Two available suites in a C-G zoned building with ample parking, a pole sign, and access road frontage.
Where is this office units located?
The property is located at 1605 US Highway Portland, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two suites available for lease for office or retail use; Central heating and central air conditioning; Year built 2002
