Renovated Industrial
For Sale
$1,339,515
1027 Morales Street, San Antonio, TX 78207
Single-story facility offers dock and drive-in loading with upgraded interior and exterior finishes.
Property Size15,759 SF
Price / SF$85
Days on Market20
Property Features for 1027 Morales Street
General Information
Standard status
Active
Size
15,759 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
12 ft
Office Build-Out
1,000 SF
Dock-High Doors
2
Drive-In Doors
1
Sprinkler System
Yes
Additional Details
Opportunity Zone
Yes
Building Details
Building Size
15,759 SF
Stories
1
Listing Agency:
Matthews
(512) 535-1655
Listed By:
Michael Kelleher · License #764467 (TX)
(512) 535-1655
Source:
Matthews
Added: Aug 12
Changed: Aug 30
Last Checked: Aug 31 at 12:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews
Investment Insights
Based on property information with market context.
This single-story industrial warehouse contains approximately 15,759 SF, including about 1,000 SF of office area, or 6% of the GLA. The building has two dock-high doors, one drive-in door, 12-foot clear height, fire sprinklers, and a roof installed three years ago. Recent work includes a new road base, exterior painting, and bathroom improvements with new fixtures and paint.
The property is located at 1027 Morales Street in San Antonio’s Near West Side Opportunity Zone. It is adjacent to the City of San Antonio’s Cattleman Square redevelopment area and near the UTSA Downtown Campus expansion, VIA transit projects, and Alazan Creek Trail improvements. The warehouse is positioned for immediate occupancy or lease-up.
The property is located at 1027 Morales Street in San Antonio’s Near West Side Opportunity Zone. It is adjacent to the City of San Antonio’s Cattleman Square redevelopment area and near the UTSA Downtown Campus expansion, VIA transit projects, and Alazan Creek Trail improvements. The warehouse is positioned for immediate occupancy or lease-up.
Key Highlights
- Approximately 15,759 SF industrial warehouse with about 1,000 SF of office space
- Two dock‑high doors and one drive‑in door
- 12′ clear height with sprinkler system
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
$109,465
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
8.17%
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%
$2,189,300
$2.2M
Cap Rate 7%
$1,563,786
$1.6M
Cap Rate 9%
$1,216,278
$1.2M
Market Conditions
NOI Build-Up for 15,759 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
$141.8K $9.00/SF
− Vacancy
−$13.0K −$0.83/SF
EGI
$128.8K $8.17/SF
− OpEx
−$19.3K −$1.23/SF
NOI
$109.5K $6.95/SF
Area
San Antonio, TX
Vacancy
9.20%
Lease Rate
$9.00 /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%
$2,189,300
Cap Rate 7%
$1,563,786
Cap Rate 9%
$1,216,278
Alternative Uses
Best Use
Warehouse
$1.56M
$1.37M – $1.82M
NOI $109,465 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.02M
$3.52M – $4.69M
NOI $281,390 @ 7.0% cap · market cap 21.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,604
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78207, TX
51,705
Population
18,750
Households
2.8
Avg Household Size
34
Median Age
6%
College-Educated
62%
High-School Grad
7.3 sq mi
ZIP Area
7,083
Density / Sq Mi
$30,655
Median Household Income
$23,696
Median Earnings
$857
Median Rent
$93,200
Median Home Value
Market
Vacancy Rate% for Industrial in San Antonio, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sam Self Storage Facility — 805 Torreon St, San Antonio, TX 78207
- Preferred Self Storage Unit — 2102 San Luis St, San Antonio, TX 78207
- Self Storage — 116 produce row, san antonio, tx 78207
- Near2Me Storage Units — 116 Produce Row, San Antonio, TX 78207
- Anderson Storage Units - Cheap Self Storage Near You — 109 N San Saba, San Antonio, TX 78207
Frequently Asked Questions
What type of property is this?
Warehouse - Single-story facility offers dock and drive-in loading with upgraded interior and exterior finishes.
Where is this warehouse located?
The property is located at 1027 Morales Street San Antonio, TX.
What is the asking price?
The asking price for this property is $1,339,515.
What are key features of this property?
This property features: Approximately 15,759 SF industrial warehouse with about 1,000 SF of office space; Two dock‑high doors and one drive‑in door; 12′ clear height with sprinkler system
