Flex Space With
New
For Sale
$390,000
604 W Broadway Avenue, Portland, TX 78374
CommercialSale, Portland, TX
Property Size3,156 SF
Lot Size0.24 Acres
Price / SF$123.57
Days on Market6
Property Features for 604 W Broadway Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Off Street
Subdivision
Portland-L J Jecker
Standard status
Active
APN
69721
Size
3,156 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
L J JECKER ADDN LOT 15
Legal Description
L J JECKER ADDN LOT 15
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
private offices
reception area
half bathrooms
bay doors
Building Details
Year built
1970
Floors in Building
1
Building materials
Brick, Concrete
Roof type
Metal
Listing Agency:
Keller Williams Coastal Bend · Keller Williams Realty
(361) 225-7900
Listed By:
Jamie Chism · License #0686215
(361) 877-3805
Added: Aug 24
Last Checked: Aug 29 at 11:06PM
MLS# 480869
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 3,156-square-foot flex property includes a front office building with more than 1,300 square feet, three private offices, a reception area, and two half bathrooms. A separate 30' x 45' metal warehouse is positioned behind the main building and includes two bay doors. The warehouse received a new metal roof in May 2026. Construction includes brick and concrete, with central air conditioning, electric heat, off-street parking, and metal roofing.
The 0.24-acre property is located at 604 W Broadway Avenue in Portland, Texas, one block from Highway 181 South. Public water and sewer serve the site, and parking is available at the front or rear. Built in 1970, the combined office and warehouse configuration provides distinct administrative and storage areas within one commercial property.
The 0.24-acre property is located at 604 W Broadway Avenue in Portland, Texas, one block from Highway 181 South. Public water and sewer serve the site, and parking is available at the front or rear. Built in 1970, the combined office and warehouse configuration provides distinct administrative and storage areas within one commercial property.
Key Highlights
- 3,156 SF flex property on a 0.24‑acre parcel
- Front building has over 1,300 square feet, 3 private offices, reception area, and 2 half bathrooms
- 30' x 45' metal warehouse with 2 bay doors
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
$20,956
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
5.37%
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%
$419,120
$419.1K
Cap Rate 7%
$299,371
$299.4K
Cap Rate 9%
$232,844
$232.8K
Market Conditions
NOI Build-Up for 3,156 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
$26.5K $8.40/SF
− Vacancy
−$1.9K −$0.59/SF
EGI
$24.7K $7.81/SF
− OpEx
−$3.7K −$1.17/SF
NOI
$21.0K $6.64/SF
Area
San Patricio County, TX
Vacancy
7.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$419,120
Cap Rate 7%
$299,371
Cap Rate 9%
$232,844
Alternative Uses
Best Use
Office B
$583.3K
$510.4K – $680.5K
NOI $40,830 @ 7.0% cap · market cap 10.47%
Second Best
Warehouse
$299.4K
$262.0K – $349.3K
NOI $20,956 @ 7.0% cap · market cap 5.37%
Theoretical Best
Hotel Hospitality
$1.62M
$1.42M – $1.89M
NOI $113,332 @ 7.0% cap · market cap 29.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78374, TX
20,281
Population
8,426
Households
2.4
Avg Household Size
35
Median Age
25%
College-Educated
92%
High-School Grad
18.6 sq mi
ZIP Area
1,090
Density / Sq Mi
$81,580
Median Household Income
$43,110
Median Earnings
$1,492
Median Rent
$225,800
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?
Flex space - The property combines private offices, reception space, restrooms, and a rear metal warehouse.
Where is this flex space located?
The property is located at 604 W Broadway Avenue Portland, TX.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 3,156 SF flex property on a 0.24‑acre parcel; Front building has over 1,300 square feet, 3 private offices, reception area, and 2 half bathrooms; 30' x 45' metal warehouse with 2 bay doors
