14-Unit Multifamily
New
For Sale
$11,950,000
701-727 Turner Street, College Station, TX 77840
Multi-Family, College Station, TX
Property Size35,046 SF
Lot Size1.09 Acres
Price / SF$340.98
Days on Market4
Property Features for 701-727 Turner Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
C03
Parking
88
Patio and Porch features
Patio
Exterior features
Covered Patio, Sprinkler System
Subdivision
Pasler
Elementary school district
College Station
Middle school district
College Station
High school district
College Station
Directions
From Hwy 6, take University E, 1.4 miles turn left on Nimitz Street, 900 Feet turn left on Ash. 400 feet, turn right onto Turner. Destination is on your left.
Standard status
Active
APN
701-727 Turner C03
Size
35,046 SF
Lot size
1.09 Acres
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric, Ceiling Fan(s)
Building Details
Year built
2025
Floors in Building
2
Number of units
7
Flooring type
Vinyl, Carpet
Roof type
Composition
Listing Agency:
RE/MAX 2020 · RE/MAX International
(979) 383-2020
Listed By:
Cori Becka
(915) 307-0276
Added: Sep 30
Last Checked: Oct 3 at 6:06AM
MLS# 26011785
Copyright © 2026 Bryan-College Station Regional MLS. 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 College Station multifamily property comprises seven duplex buildings with 14 units and 88 private bedrooms. Two buildings have seven bedrooms and 7.5 bathrooms per side; the other five have six bedrooms and 6.5 bathrooms per side. Each bedroom has its own en-suite bath, with an additional half bath in the main living area. Unit features include two refrigerators, a washer and dryer, kitchen coffee bars, vinyl flooring, carpeted bedrooms, and private side yards. Parking is at the rear. Six units have third-floor terraces, while the remaining eight include second-floor balconies.
The property occupies 1.088 acres, with 35,046 square feet of building area, and is zoned C03. All units are leased or pre-leased through the 2027–2028 school year.
The property occupies 1.088 acres, with 35,046 square feet of building area, and is zoned C03. All units are leased or pre-leased through the 2027–2028 school year.
Key Highlights
- Seven duplex buildings contain 14 units and 88 private bedrooms
- Two buildings have 7 bedrooms and 7.5 bathrooms per side; five have 6 bedrooms and 6.5 bathrooms per side
- Each bedroom has an en‑suite bath, plus a half bath in the main living area
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
$336,200
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
2.81%
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%
$6,724,000
$6.7M
Cap Rate 7%
$4,802,857
$4.8M
Cap Rate 9%
$3,735,556
$3.7M
Market Conditions
NOI Build-Up for 35,046 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
$643.4K $18.36/SF
− Vacancy
−$32.2K −$0.92/SF
EGI
$611.3K $17.44/SF
− OpEx
−$275.1K −$7.85/SF
NOI
$336.2K $9.59/SF
Area
College Station, TX
Vacancy
5.00%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$6,724,000
Cap Rate 7%
$4,802,857
Cap Rate 9%
$3,735,556
Alternative Uses
Best Use
Apartment 5plus
$4.80M
$4.20M – $5.60M
NOI $336,200 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.63M
$7.55M – $10.07M
NOI $604,081 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,039
Businesses Nearby
Explore this area
Business Placement
Demographics for 77840, TX
55,180
Population
25,423
Households
2.2
Avg Household Size
25
Median Age
46%
College-Educated
91%
High-School Grad
10.0 sq mi
ZIP Area
5,518
Density / Sq Mi
$31,278
Median Household Income
$14,521
Median Earnings
$1,085
Median Rent
$241,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Seven duplex buildings provide 88 private bedrooms, each with an en-suite bath.
Where is this multifamily property located?
The property is located at 701-727 Turner Street College Station, TX.
What is the asking price?
The asking price for this property is $11,950,000.
What are key features of this property?
This property features: Seven duplex buildings contain 14 units and 88 private bedrooms; Two buildings have 7 bedrooms and 7.5 bathrooms per side; five have 6 bedrooms and 6.5 bathrooms per side; Each bedroom has an en‑suite bath, plus a half bath in the main living area
