Two-Story Office Building with
For Sale
$1,489,999
1031 Us Highway, Portland, TX 78374
SINGLE_FAMILY - Portland, TX
Property Size6,461 SF
Lot Size1.09 Acres
Price / SF$230.61
Days on Market212
Property Features for 1031 Us Highway
General Information
Property type
Residential
Property subtype
Office
Parking features
Off Street
Subdivision
PORTLAND PLAZA
Lot features
Interior Lot, Level
Standard status
Active
APN
69582
Size
6,461 SF
Lot size
1.09 Acres
Taxes and HOA fees
Tax Description
PORTLAND PLAZA UNIT D LOT 1
Legal Description
PORTLAND PLAZA UNIT D LOT 1
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
roll-down storm shutters
grand lobby
teller line
secure vault area
drive-through
Building Details
Year built
1974
Floors in Building
2
Building materials
Concrete
Roof type
Flat
Listing Agency:
Mirabal Montalvo & Associates
(361) 994-1140
Listed By:
James Mirabal · License #0481796
(361) 774-4137
Added: Jan 13
Changed: Aug 2
Last Checked: Aug 13 at 5:06AM
MLS# 469895
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.
Freestanding two-story office building in concrete construction with a flat roof, central heating, and central air conditioning. The layout includes a dramatic grand lobby entry with soaring ceilings and floor-to-ceiling glass, plus an existing teller line and secure vault area that can be repurposed. The first floor features private office rooms, a large open lobby/work area, storage, one restroom, and a covered drive-through component with three drive-through lanes and one dedicated ATM lane. The second floor offers conference rooms, additional offices, a mechanical room, a dedicated network/server room, break area, two restrooms, and multiple storage areas.
Located at 1031 US Highway 181 in Portland, TX, the property sits on about 1.09 acres with approximately 186 feet of frontage along US 181. The site includes expansive paved parking fields in both the front and rear, with off-street parking. Public water and public sewer are available, and the building includes roll-down storm shutters.
Built in 1974, this bank-to-office configuration can support a range of office or professional uses where a high-visibility Highway 181 presence and on-site customer flow matter.
Located at 1031 US Highway 181 in Portland, TX, the property sits on about 1.09 acres with approximately 186 feet of frontage along US 181. The site includes expansive paved parking fields in both the front and rear, with off-street parking. Public water and public sewer are available, and the building includes roll-down storm shutters.
Built in 1974, this bank-to-office configuration can support a range of office or professional uses where a high-visibility Highway 181 presence and on-site customer flow matter.
Key Highlights
- About 1.09 acres with approximately 186 feet of frontage on US Highway 181
- 6461 SF two‑story concrete office building with flat roof
- Covered drive‑through component with three drive‑through lanes plus one dedicated ATM lane
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
$114,902
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
7.71%
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%
$2,298,040
$2.3M
Cap Rate 7%
$1,641,457
$1.6M
Cap Rate 9%
$1,276,689
$1.3M
Market Conditions
NOI Build-Up for 6,461 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
$161.3K $24.96/SF
− Vacancy
−$8.1K −$1.25/SF
EGI
$153.2K $23.71/SF
− OpEx
−$38.3K −$5.93/SF
NOI
$114.9K $17.78/SF
Area
San Patricio County, TX
Vacancy
5.00%
Lease Rate
$24.96 /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%
$2,298,040
Cap Rate 7%
$1,641,457
Cap Rate 9%
$1,276,689
Alternative Uses
Best Use
Specialty Retail
$1.64M
$1.44M – $1.92M
NOI $114,902 @ 7.0% cap · market cap 7.71%
Second Best
Office B
$1.19M
$1.04M – $1.39M
NOI $83,588 @ 7.0% cap · market cap 5.61%
Theoretical Best
Hotel Hospitality
$3.31M
$2.90M – $3.87M
NOI $232,015 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office building - Freestanding two-story concrete office building with drive-through lanes, floor-to-ceiling glass, and expansive on-site parking.
Where is this office building located?
The property is located at 1031 Us Highway Portland, TX.
What is the asking price?
The asking price for this property is $1,489,999.
What are key features of this property?
This property features: About 1.09 acres with approximately 186 feet of frontage on US Highway 181; 6461 SF two‑story concrete office building with flat roof; Covered drive‑through component with three drive‑through lanes plus one dedicated ATM lane
