Freestanding Two-Story Office
For Sale
$1,489,999
1031 Us Highway, Portland, TX 78374
CommercialSale, Portland, TX
Property Size6,461 SF
Lot Size1.09 Acres
Price / SF$230.61
Days on Market257
Property Features for 1031 Us Highway
General Information
Property type
Commercial Sale
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
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
roll-down storm shutters
grand lobby
floor-to-ceiling glass
teller line
vault area
covered drive-through
conference rooms
break area
network/server room
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: Sep 21
Last Checked: Sep 27 at 1:06PM
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.
This 6,461-square-foot, two-story office building occupies 1.09 acres and was constructed in 1974 with concrete construction, a flat roof, central air, and electric central heating. The first floor includes approximately five to six private offices, an open lobby and work area, storage, a restroom, teller infrastructure, a secure vault, and a covered drive-through with three lanes plus a dedicated ATM lane. The second floor adds approximately four offices, two conference rooms, a network/server room, mechanical room, break area, two restrooms, and additional storage.
Located at 1031 US Highway in Portland, the property has approximately 186 feet of highway frontage and traffic exceeding 40,000 vehicles per day on US 181. Paved parking is provided at the front and rear, while roll-down storm shutters add a documented building feature. Public water and public sewer serve the property, and the layout supports office, financial, or retail-oriented occupancy.
Located at 1031 US Highway in Portland, the property has approximately 186 feet of highway frontage and traffic exceeding 40,000 vehicles per day on US 181. Paved parking is provided at the front and rear, while roll-down storm shutters add a documented building feature. Public water and public sewer serve the property, and the layout supports office, financial, or retail-oriented occupancy.
Key Highlights
- 6,461‑square‑foot two‑story office building on 1.09 acres
- Approximately 186 feet of frontage along US 181
- Traffic exceeding 40,000 vehicles per day on US 181
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Concrete office property with private offices, conference rooms, drive-through lanes, paved parking, and a secure vault area.
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: 6,461‑square‑foot two‑story office building on 1.09 acres; Approximately 186 feet of frontage along US 181; Traffic exceeding 40,000 vehicles per day on US 181
