Flex Space with Office and
New
For Sale
$309,900
104 Cozzi Circle, Victoria, TX 77901
CommercialSale, Victoria, TX
Property Size4,600 SF
Lot Size0.75 Acres
Price / SF$67.37
Days on Market4
Property Features for 104 Cozzi Circle
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage
Subdivision
Cozzi Circle
Lot features
City Lot, Open Lot, Half To One Acre Lot
Directions
From Navarro, take Cozzi Circle. Property is located on right.
Standard status
Active
APN
44603
Size
4,600 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
COZZI CIRCLE SUBD LOT 8 BLOCK 1
Tax Annual Amount
3770
Legal Description
COZZI CIRCLE SUBD LOT 8 BLOCK 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Floors in Building
1
Flooring type
Vinyl, Concrete
Building materials
Block, Masonry, Concrete
Roof type
Metal
Listing Agency:
Coldwell Banker D'Ann Harper
(210) 483-7000
Listed By:
The Zaplac Group
(361) 541-4100
Added: Sep 24
Last Checked: Sep 27 at 12:06PM
MLS# 626097
Copyright © 2026 Central Texas Multiple Listing Service. 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 4,600-square-foot flex property was built in 1984 and occupies a 0.7454-acre site. Its layout includes approximately 1,350 square feet of office area and 3,250 square feet of warehouse space, plus two bathrooms. Recent work includes interior and exterior painting, new flooring, and a replacement central heating and air conditioning system. Construction materials include block, masonry, and concrete; flooring is concrete and vinyl, and the roof is metal.
The property is at 104 Cozzi Circle in Victoria, near N. Navarro and Mockingbird Lane. Public water and sewer serve the site, and garage parking is listed. The office-and-warehouse configuration can support uses such as contractor operations, service businesses, storage, or a showroom paired with office space, subject to applicable requirements.
The property is at 104 Cozzi Circle in Victoria, near N. Navarro and Mockingbird Lane. Public water and sewer serve the site, and garage parking is listed. The office-and-warehouse configuration can support uses such as contractor operations, service businesses, storage, or a showroom paired with office space, subject to applicable requirements.
Key Highlights
- 4,600‑square‑foot building on 0.7454 acres
- Approximately 1,350 square feet of office space and 3,250 square feet of warehouse area
- 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
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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
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Frequently Asked Questions
What type of property is this?
Flex space - Updated commercial building combines office and warehouse areas with central heating and air conditioning.
Where is this flex space located?
The property is located at 104 Cozzi Circle 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: 4,600‑square‑foot building on 0.7454 acres; Approximately 1,350 square feet of office space and 3,250 square feet of warehouse area; Two bathrooms
