Multi-Building Flex Space
New
For Sale
$1,600,000
1125 W Market Street, Rockport, TX 78382
COMMERCIAL - Rockport, TX
Property Size9,728 SF
Lot Size1.10 Acres
Price / SF$164.47
Days on Market3
Property Features for 1125 W Market Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Off Street
Subdivision
West Terrace
Directions
Business 35 at Market & Bronte, heading west; building on the left at the corner of Market and Oak Ave.
Standard status
Active
APN
6324004008000
Size
9,728 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Description
WEST TERRACE UNIT 1 BLK 4 LOT 8-R
Legal Description
WEST TERRACE UNIT 1 BLK 4 LOT 8-R
Utilities
Heating system
Central, Natural Gas, Electric (Heating)
Cooling system
Gas (Cooling), Electric, Central Air
Water source
Public
Building Details
Year built
2015
Floors in Building
1
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Kuper Sotheby's Intl Realty
(361) 749-4000
Listed By:
Kathy Tullis · License #0513900
(361) 386-0572
Added: Aug 5
Changed: Aug 7
Last Checked: Aug 7 at 7:06PM
MLS# 480438
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 flex space property includes five red steel metal buildings on approximately 1.1 acres. The complex combines leased commercial space, an owner-occupied building, and storage facilities, supporting several existing occupancy arrangements. Building features include private offices, restrooms, loft space, warehouse areas, open workspace, and storage bays. One building includes three storage bays measuring approximately 36' x 12' each, while another contains a leased storage bay.
The property occupies a corner position at 1125 W Market Street in Rockport, with approximately 200 feet along Market Street and 125 feet along Oak Avenue. Two entrances provide access from the surrounding streets. Improvements were constructed in 2015 and include metal siding, metal roofing, public water, central air, and off-street parking.
The configuration accommodates a mix of office, storage, warehouse, service, retail, showroom, distribution, and light industrial functions as reflected in the existing building layouts.
The property occupies a corner position at 1125 W Market Street in Rockport, with approximately 200 feet along Market Street and 125 feet along Oak Avenue. Two entrances provide access from the surrounding streets. Improvements were constructed in 2015 and include metal siding, metal roofing, public water, central air, and off-street parking.
The configuration accommodates a mix of office, storage, warehouse, service, retail, showroom, distribution, and light industrial functions as reflected in the existing building layouts.
Key Highlights
- Five red steel metal buildings on approximately 1.1 acres
- Approximately 200 feet of frontage on Market Street and 125 feet on Oak Avenue
- Two entrances serve the corner property
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
$138,631
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
8.66%
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%
$2,772,620
$2.8M
Cap Rate 7%
$1,980,443
$2.0M
Cap Rate 9%
$1,540,344
$1.5M
Market Conditions
NOI Build-Up for 9,728 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
$217.1K $22.32/SF
− Vacancy
−$32.3K −$3.32/SF
EGI
$184.8K $19.00/SF
− OpEx
−$46.2K −$4.75/SF
NOI
$138.6K $14.25/SF
Area
Aransas County, TX
Vacancy
14.87%
Lease Rate
$22.32 /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%
$2,772,620
Cap Rate 7%
$1,980,443
Cap Rate 9%
$1,540,344
Alternative Uses
Best Use
Office B
$1.98M
$1.73M – $2.31M
NOI $138,631 @ 7.0% cap · market cap 8.66%
Second Best
Flex RnD
$1.30M
$1.13M – $1.51M
NOI $90,751 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$3.72M
$3.25M – $4.34M
NOI $260,314 @ 7.0% cap · market cap 16.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
281
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78382, TX
19,432
Population
13,048
Households
1.5
Avg Household Size
53
Median Age
30%
College-Educated
92%
High-School Grad
79.9 sq mi
ZIP Area
243
Density / Sq Mi
$63,434
Median Household Income
$38,741
Median Earnings
$1,147
Median Rent
$238,200
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?
Flex space - Five metal buildings combine leased, owner-occupied, and storage space on a visible corner parcel with two access points.
Where is this flex space located?
The property is located at 1125 W Market Street Rockport, TX.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Five red steel metal buildings on approximately 1.1 acres; Approximately 200 feet of frontage on Market Street and 125 feet on Oak Avenue; Two entrances serve the corner property
