Office Development
For Sale
$825,000
11902 Rustic Ln, San Antonio, TX 78230
Flexible zoning and an existing office layout with on-site parking support immediate use or redevelopment.
Property Size3,101 SF
Lot Size0.81 Acres
Price / SF$266.04
Days on Market113
Property Features for 11902 Rustic Ln
General Information
Standard status
Active
Size
3,101 SF
Lot size
0.81 Acres
Taxes and HOA fees
Annual Taxes
$11,857
Listing Agency:
Phyllis Browning Company
(210) 824-7878
Listed By:
Lynn Boyd
(210) 863-5758
Source:
Exprealty
Added: May 29
Changed: Sep 14
Last Checked: Sep 17 at 12:46AM
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 Phyllis Browning Company
Investment Insights
Based on property information with market context.
The property is a treed, approximately 0.81-acre site with an existing building that includes functional office space, a kitchen, and a conference area. It also features a dedicated parking pad designed to provide on-site parking for employees and clients. The configuration supports either ongoing office use or redevelopment depending on an operator’s plans.
Located in a central area of San Antonio, the site is positioned for accessibility to nearby business needs. The combination of flexible zoning and an improved footprint gives buyers the option to tailor office development to a range of business requirements, rather than starting from a raw land scenario.
For tenants or buyers seeking an office user with space that can function immediately, the current layout offers meeting and support areas alongside office rooms. For developers, the property’s flexible zoning and existing improvements provide a foundation to pursue office development aligned with different organizational needs, while the on-site parking pad helps address day-to-day parking for clients and staff.
Located in a central area of San Antonio, the site is positioned for accessibility to nearby business needs. The combination of flexible zoning and an improved footprint gives buyers the option to tailor office development to a range of business requirements, rather than starting from a raw land scenario.
For tenants or buyers seeking an office user with space that can function immediately, the current layout offers meeting and support areas alongside office rooms. For developers, the property’s flexible zoning and existing improvements provide a foundation to pursue office development aligned with different organizational needs, while the on-site parking pad helps address day-to-day parking for clients and staff.
Key Highlights
- Approximately 0.81‑acre centrally located development site with a treed setting
- Flexible zoning that accommodates office development for a variety of business needs
- Existing building includes functional office space, a kitchen, and a conference area
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
$42,263
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
5.12%
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%
$845,260
$845.3K
Cap Rate 7%
$603,757
$603.8K
Cap Rate 9%
$469,589
$469.6K
Market Conditions
NOI Build-Up for 3,101 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
$68.5K $22.08/SF
− Vacancy
−$12.1K −$3.91/SF
EGI
$56.4K $18.17/SF
− OpEx
−$14.1K −$4.54/SF
NOI
$42.3K $13.63/SF
Area
San Antonio, TX
Vacancy
17.70%
Lease Rate
$22.08 /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%
$845,260
Cap Rate 7%
$603,757
Cap Rate 9%
$469,589
Alternative Uses
Best Use
Office B
$603.8K
$528.3K – $704.4K
NOI $42,263 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$791.0K
$692.1K – $922.9K
NOI $55,371 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
Explore this area
Business Placement
Demographics for 78230, TX
42,145
Population
21,191
Households
2
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
10.5 sq mi
ZIP Area
4,014
Density / Sq Mi
$71,564
Median Household Income
$40,281
Median Earnings
$1,289
Median Rent
$355,400
Median Home Value
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Market
Vacancy Rate% for Office in San Antonio, TX
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Frequently Asked Questions
What type of property is this?
Office building - Flexible zoning and an existing office layout with on-site parking support immediate use or redevelopment.
Where is this office building located?
The property is located at 11902 Rustic Ln San Antonio, TX.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Approximately 0.81‑acre centrally located development site with a treed setting; Flexible zoning that accommodates office development for a variety of business needs; Existing building includes functional office space, a kitchen, and a conference area
