Flex Space with Office and
New
For Sale
$309,900
104 Cozzi Cir, Victoria, TX 77901
Recent interior and exterior updates include new flooring and a central heating and cooling system.
Property Size4,600 SF
Lot Size0.75 Acres
Price / SF$67.37
Days on Market2
Property Features for 104 Cozzi Cir
General Information
Standard status
Active
Size
4,600 SF
Lot size
0.75 Acres
Property subtype
Commercial
Warehouse & Industrial
Warehouse Space
3,250 SF
Office Build-Out
1,350 SF
Building Details
Building Size
4,600 SF
Year Built
1984
Buildings
1
Stories
1
Listing Agency:
D Ann Harper Realty, Inc
Listed By:
The Zaplac Group
(361) 541-4100
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 2:22PM
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 D Ann Harper Realty, Inc
Investment Insights
Based on property information with market context.
Built in 1984, this commercial flex property contains approximately 4,600 square feet on a 0.75-acre site. The building is divided between approximately 1,350 square feet of office area and 3,250 square feet of warehouse space, with two bathrooms. Improvements include fresh paint inside and out, new flooring, and a new central air conditioning and heating system.
The property is at 104 Cozzi Circle, just off N. Navarro and near Mockingbird Lane in Victoria. Its office and warehouse configuration is complemented by additional land on the site.
The property is at 104 Cozzi Circle, just off N. Navarro and near Mockingbird Lane in Victoria. Its office and warehouse configuration is complemented by additional land on the site.
Key Highlights
- Approximately 4,600 square feet on 0.75 acres
- Approximately 1,350 square feet of office space and 3,250 square feet of warehouse space
- Two bathrooms
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
$23,688
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
7.64%
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%
$473,760
$473.8K
Cap Rate 7%
$338,400
$338.4K
Cap Rate 9%
$263,200
$263.2K
Market Conditions
NOI Build-Up for 4,600 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
$37.0K $8.04/SF
− Vacancy
−$3.1K −$0.68/SF
EGI
$33.8K $7.36/SF
− OpEx
−$10.2K −$2.21/SF
NOI
$23.7K $5.15/SF
Area
Victoria County, TX
Vacancy
8.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
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%
$473,760
Cap Rate 7%
$338,400
Cap Rate 9%
$263,200
Alternative Uses
Best Use
Flex RnD
$461.3K
$403.7K – $538.2K
NOI $32,292 @ 7.0% cap · market cap 10.42%
Second Best
Warehouse
$410.9K
$359.6K – $479.4K
NOI $28,764 @ 7.0% cap · market cap 9.28%
Theoretical Best
Multifamily LT 5
$50.54M
$44.22M – $58.96M
NOI $3,537,507 @ 7.0% cap · market cap 1,141.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77901, TX
40,062
Population
17,438
Households
2.3
Avg Household Size
35
Median Age
15%
College-Educated
76%
High-School Grad
18.1 sq mi
ZIP Area
2,213
Density / Sq Mi
$57,728
Median Household Income
$33,127
Median Earnings
$1,105
Median Rent
$133,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- MAMA CHELA ANTOJITOS Y MAS — 1604 E Crestwood Dr, Victoria, TX 77901
Frequently Asked Questions
What type of property is this?
Flex space - Recent interior and exterior updates include new flooring and a central heating and cooling system.
Where is this flex space located?
The property is located at 104 Cozzi Cir Victoria, TX.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Approximately 4,600 square feet on 0.75 acres; Approximately 1,350 square feet of office space and 3,250 square feet of warehouse space; Two bathrooms
