Downtown Bryan Investment
For Sale
Contact for pricing
103 West 32nd Street, Bryan, TX 77803
Single tenant investment property in downtown Bryan, Texas.
Property Size982 SF
Price / SF$371.59
Days on Market540
Property Features for 103 West 32nd Street
General Information
Standard status
Active
Size
982 SF
Class
A
Property subtype
Office
Zoning
MT-C
Building Details
Year Built
1957
Listing Agency:
LKG Realty Advisors
(979) 221-2929
Listed By:
Rick Lemons · License #TX 524312
Source:
Crexi
Added: Feb 20, 2025
Changed: Aug 8
Last Checked: Jul 23 at 11:45AM
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 LKG Realty Advisors
Investment Insights
Based on property information with market context.
This single-tenant investment property is located in downtown Bryan, Texas, within an Opportunity Zone. The building, with a size of 982 square feet, was reconstructed in 2021, with everything new except the slab. The zoning is Midtown Corridor. New apartments and townhomes have recently been completed next door. An adjacent lot is also available for sale, which could accommodate a 2,600 square foot building footprint and qualify for an opportunity zone project.
Key Highlights
- Single tenant investment property in downtown Bryan, TX.
- Located in opportunity zone.
- Building re‑constructed in 2021 (everything other than slab is new).
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
$12,915
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
3.54%
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%
$258,300
$258.3K
Cap Rate 7%
$184,500
$184.5K
Cap Rate 9%
$143,500
$143.5K
Market Conditions
NOI Build-Up for 982 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
$20.6K $21.00/SF
− Vacancy
−$3.4K −$3.47/SF
EGI
$17.2K $17.54/SF
− OpEx
−$4.3K −$4.38/SF
NOI
$12.9K $13.15/SF
Area
Brazos County, TX
Vacancy
16.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$258,300
Cap Rate 7%
$184,500
Cap Rate 9%
$143,500
Alternative Uses
Best Use
Office B
$184.5K
$161.4K – $215.3K
NOI $12,915 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$241.8K
$211.6K – $282.1K
NOI $16,927 @ 7.0% cap · market cap 4.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
Explore this area
Business Placement
Demographics for 77803, TX
30,533
Population
10,586
Households
2.9
Avg Household Size
32
Median Age
11%
College-Educated
72%
High-School Grad
13.6 sq mi
ZIP Area
2,245
Density / Sq Mi
$50,953
Median Household Income
$28,651
Median Earnings
$1,106
Median Rent
$141,000
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?
Office building - Single tenant investment property in downtown Bryan, Texas.
Where is this office building located?
The property is located at 103 West 32nd Street Bryan, TX.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: Single tenant investment property in downtown Bryan, TX.; Located in opportunity zone.; Building re‑constructed in 2021 (everything other than slab is new).
