Fenced Yard Flex
For Sale
$1,300,000
22603 Zac Lentz Parkway, Victoria, TX 77905
CommercialSale, Victoria, TX
Property Size8,000 SF
Lot Size5.00 Acres
Price / SF$162.50
Days on Market122
Property Features for 22603 Zac Lentz Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage, Oversize, Carport, Driveway
Accessibility
Accessible Approach with Ramp
Subdivision
Aloe West Sub
Lot features
Three To Five Acres, Five To Ten Acres, Outside City Limits, Open Lot
Directions
When headed to Goliad from Victoria on HWY 59, turn right onto Zac Lentz Pkwy and remain on the feeder road until you see the property on the right.
Standard status
Active
APN
20316381
Size
8,000 SF
Lot size
5.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ALOE WEST SUBD, BLOCK 2, LOT 1, ACRES 5.0
Tax Annual Amount
5274
Legal Description
ALOE WEST SUBD, BLOCK 2, LOT 1, ACRES 5.0
Utilities
Sewer type
Aerobic Septic
Heating system
Central
Cooling system
Attic Fan, Central Air
Water source
Well, Private
Amenities
covered parking
wash bay
Building Details
Year built
2015
Floors in Building
1
Flooring type
Concrete, Tile
Building materials
Masonry, MetalFrame, SteelFrame, StoneVeneer, Steel
Roof type
Metal
Listing Agency:
The Ron Brown Company
(361) 575-1446
Listed By:
Jake Truss · License #0730168
(361) 550-7878
Added: May 11
Changed: Sep 8
Last Checked: Sep 9 at 4:06PM
MLS# 613263
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.
Built in 2015, this 8,000-square-foot flex facility combines approximately 2,000 square feet of finished office area with 6,000 square feet of warehouse space. Five oversized bays feature tall doors and are configured for potential crane installation. Tile and concrete flooring, central heating and cooling, and a metal roof support practical day-to-day operations.
The property occupies 5 usable acres in Victoria’s Aloe Field industrial and commercial corridor. A fully fenced site with gated entry provides controlled access, while frontage along Zac Lentz Parkway supports straightforward vehicle movement. Outdoor improvements include a detached covered structure with an attached wash bay, along with space for equipment, fleet parking, and storage. Private well water and an aerobic septic system serve the property. The owner will also consider a lease.
The property occupies 5 usable acres in Victoria’s Aloe Field industrial and commercial corridor. A fully fenced site with gated entry provides controlled access, while frontage along Zac Lentz Parkway supports straightforward vehicle movement. Outdoor improvements include a detached covered structure with an attached wash bay, along with space for equipment, fleet parking, and storage. Private well water and an aerobic septic system serve the property. The owner will also consider a lease.
Key Highlights
- 8,000 SF facility with approximately 2,000 SF of office and 6,000 SF of warehouse space
- Five oversized warehouse bays with tall doors configured for potential crane installation
- 5 usable acres with fenced perimeter and gated entry
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
$56,160
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
4.32%
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%
$1,123,200
$1.1M
Cap Rate 7%
$802,286
$802.3K
Cap Rate 9%
$624,000
$624.0K
Market Conditions
NOI Build-Up for 8,000 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
$96.0K $12.00/SF
− Vacancy
−$9.6K −$1.20/SF
EGI
$86.4K $10.80/SF
− OpEx
−$30.2K −$3.78/SF
NOI
$56.2K $7.02/SF
Area
Victoria County, TX
Vacancy
10.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,123,200
Cap Rate 7%
$802,286
Cap Rate 9%
$624,000
Alternative Uses
Best Use
Office B
$1.91M
$1.67M – $2.23M
NOI $133,816 @ 7.0% cap · market cap 10.29%
Second Best
Flex RnD
$802.3K
$702.0K – $936.0K
NOI $56,160 @ 7.0% cap · market cap 4.32%
Theoretical Best
Multifamily LT 5
$87.89M
$76.90M – $102.54M
NOI $6,152,186 @ 7.0% cap · market cap 473.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77905, TX
15,282
Population
6,854
Households
2.2
Avg Household Size
43
Median Age
17%
College-Educated
89%
High-School Grad
428.7 sq mi
ZIP Area
36
Density / Sq Mi
$81,925
Median Household Income
$43,522
Median Earnings
$1,094
Median Rent
$208,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial facility combining finished offices, warehouse bays, and secured outdoor operating area along Zac Lentz Parkway.
Where is this flex space located?
The property is located at 22603 Zac Lentz Parkway Victoria, TX.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 8,000 SF facility with approximately 2,000 SF of office and 6,000 SF of warehouse space; Five oversized warehouse bays with tall doors configured for potential crane installation; 5 usable acres with fenced perimeter and gated entry
