Flex Space with Drive-Through
For Sale
$275,000
8 E 11th Street, San Angelo, TX 76903
Commercial Sale, San Angelo, TX
Property Size3,950 SF
Lot Size0.25 Acres
Price / SF$69.62
Days on Market55
Property Features for 8 E 11th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Commercial
Fencing
Chain Link, Fenced
Subdivision
Miles
Standard status
Active
APN
R000012256
Size
3,950 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Description
Acres: 0.138 Lot: 12 & 13 & E10 Of 11 Blk: 54 Subd: Miles Addition
Legal Description
Acres: 0.138 Lot: 12 & 13 & E10 Of 11 Blk: 54 Subd: Miles Addition
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1959
Listing Agency:
Scott Allison Real Estate
(325) 949-5575
Listed By:
Todd E Cauthorn · License #0440520
(325) 656-1662
Added: Jul 11
Changed: Aug 26
Last Checked: Sep 3 at 12:06AM
MLS# 200766
Copyright © 2026 San Angelo Association of Realtors. 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 3,950-square-foot flex property combines warehouse and office space within a 1959 building. The office component measures 560 square feet and includes a loft, while double doors support drive-through access when needed. A new electric panel has been installed, and the building is served by central heating and central air.
The property includes a 0.253-acre lot with an additional lot, chain-link fencing, public water, and public sewer. Its location just off Chadbourne provides a defined commercial setting in San Angelo.
The property includes a 0.253-acre lot with an additional lot, chain-link fencing, public water, and public sewer. Its location just off Chadbourne provides a defined commercial setting in San Angelo.
Key Highlights
- 3,950 square feet of flex space
- 560 square feet of office space with a loft
- Double doors provide drive‑through access
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
$24,700
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
8.98%
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%
$494,000
$494.0K
Cap Rate 7%
$352,857
$352.9K
Cap Rate 9%
$274,444
$274.4K
Market Conditions
NOI Build-Up for 3,950 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
$31.8K $8.04/SF
− Vacancy
−$2.7K −$0.68/SF
EGI
$29.1K $7.36/SF
− OpEx
−$4.4K −$1.10/SF
NOI
$24.7K $6.25/SF
Area
Tom Green County, TX
Vacancy
8.50%
Lease Rate
$8.04 /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%
$494,000
Cap Rate 7%
$352,857
Cap Rate 9%
$274,444
Alternative Uses
Best Use
Office B
$761.8K
$666.6K – $888.8K
NOI $53,325 @ 7.0% cap · market cap 19.39%
Second Best
Flex RnD
$402.7K
$352.4K – $469.9K
NOI $28,191 @ 7.0% cap · market cap 10.25%
Theoretical Best
Multifamily LT 5
$3.02M
$2.65M – $3.53M
NOI $211,662 @ 7.0% cap · market cap 76.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
941
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76903, TX
32,215
Population
14,169
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
78%
High-School Grad
25.0 sq mi
ZIP Area
1,289
Density / Sq Mi
$49,045
Median Household Income
$33,077
Median Earnings
$1,051
Median Rent
$115,900
Median Home Value
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 - Includes dedicated office space, a loft, central HVAC, and fenced outdoor area.
Where is this flex space located?
The property is located at 8 E 11th Street San Angelo, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 3,950 square feet of flex space; 560 square feet of office space with a loft; Double doors provide drive‑through access
