Medical Imaging Center &
For Sale
Contact for pricing
11923 Culebra Rd, San Antonio, TX 78253
Medical imaging center and office space for sale.
Property Size6,022 SF
Price / SF$315.51
Days on Market182
Property Features for 11923 Culebra Rd
General Information
Standard status
Active
Size
6,022 SF
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$147,571
Building Details
Year Built
2017
Tenancy
Multi
Listing Agency:
Partners
(512) 580-6025
Listed By:
Nicholas Moss · License #780759
Source:
Crexi
Added: Mar 4
Changed: Aug 23
Last Checked: Aug 31 at 6:11PM
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 Partners
Investment Insights
Based on property information with market context.
This commercial property features a medical imaging center and office space. The property has a size of 6022 square feet and is suitable for commercial real estate purposes, including medical office space and general office use. The property is currently occupied by South Texas Radiology Imaging Center and Edward Jones.
Key Highlights
- Radiology Imaging Center & Edward Jones Tenants
- Year Built: 2017
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
$92,137
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
4.85%
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%
$1,842,740
$1.8M
Cap Rate 7%
$1,316,243
$1.3M
Cap Rate 9%
$1,023,744
$1.0M
Market Conditions
NOI Build-Up for 6,022 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
$144.5K $24.00/SF
− Vacancy
−$21.7K −$3.60/SF
EGI
$122.8K $20.40/SF
− OpEx
−$30.7K −$5.10/SF
NOI
$92.1K $15.30/SF
Area
ZIP 78253
Vacancy
15.00%
Lease Rate
$24.00 /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%
$1,842,740
Cap Rate 7%
$1,316,243
Cap Rate 9%
$1,023,744
Alternative Uses
Best Use
Office B
$1.32M
$1.15M – $1.54M
NOI $92,137 @ 7.0% cap · market cap 4.85%
Second Best
Healthcare Medical
$1.08M
$947.4K – $1.26M
NOI $75,790 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,564 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78253, TX
66,589
Population
24,095
Households
2.8
Avg Household Size
34
Median Age
43%
College-Educated
94%
High-School Grad
53.6 sq mi
ZIP Area
1,242
Density / Sq Mi
$104,260
Median Household Income
$52,314
Median Earnings
$1,557
Median Rent
$334,900
Median Home Value
Market
Vacancy Rate% for Office in San Antonio, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical imaging center and office space for sale.
Where is this medical office space located?
The property is located at 11923 Culebra Rd San Antonio, TX.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Radiology Imaging Center & Edward Jones Tenants; Year Built: 2017
