Hard-Corner Commercial
For Sale
Under Contract
$1,545,000
12020 S US Highway 181, San Antonio, TX 78223
CommercialSale, San Antonio, TX
Property Size4,968 SF
Lot Size1.67 Acres
Price / SF$310.99
Days on Market222
Property Features for 12020 S US Highway 181
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
OCL
Parking features
Carport
Lot features
One To Three Acres, Outside City Limits
Elementary school district
East Central ISD
Middle school district
East Central ISD
High school district
East Central ISD
Directions
from San Antonio, TX Turn right and take ramp onto I-37 S toward I-10. Go for 8.8 mi.Take exit 132 toward US-181 S/Floresville. Go for 0.9 mi. Continue on US Highway 1 (US-181 S). Go for 1.8 mi. Make a U-Turn onto S US Highway 181 (US-181 N). Go for 0.4 mi. End at 12020 S US Highway 181 San Antonio, Texas 78223-4452
Standard status
Active Under Contract
APN
04007-002-3366
Size
4,968 SF
Lot size
1.67 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CB 4007-2 P-336 (.486), P-94F (.344) & P-94G (.84) ABS 11
Tax Annual Amount
5667
Legal Description
CB 4007-2 P-336 (.486), P-94F (.344) & P-94G (.84) ABS 11
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1960
Floors in Building
2
Roof type
Shingle, Composition
Listing Agency:
THE REAL ESTATE RANCH
(432) 688-8200
Listed By:
Don Thomas Johnston · License #0542176
(512) 970-1610
Added: Jan 29
Changed: Sep 6
Last Checked: Sep 8 at 12:06PM
MLS# 603181
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 1.67-acre commercial land offering occupies the intersection of S US Highway 181 and Foster Road in San Antonio. The property includes 4,968 square feet of property improvements, a carport, composition and shingle roofing, and a 1960 construction date. Public water and public sewer serve the site. The land is designated OCL.
Road exposure extends approximately 290 feet along Hwy 181 and 238 feet along Foster Road. The property has been used as a residential property for more than 30 years, while the current classification identifies it as commercial land. Its corner position and existing improvements provide a defined base for evaluating future commercial development.
Road exposure extends approximately 290 feet along Hwy 181 and 238 feet along Foster Road. The property has been used as a residential property for more than 30 years, while the current classification identifies it as commercial land. Its corner position and existing improvements provide a defined base for evaluating future commercial development.
Key Highlights
- 1.67‑acre commercial land site at the intersection of S US Highway 181 and Foster Road
- Approximately 290 feet of frontage along Hwy 181
- Approximately 238 feet of frontage along Foster Road
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
$66,503
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
4.30%
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%
$1,330,060
$1.3M
Cap Rate 7%
$950,043
$950.0K
Cap Rate 9%
$738,922
$738.9K
Market Conditions
NOI Build-Up for 4,968 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
$99.0K $19.92/SF
− Vacancy
−$4.0K −$0.80/SF
EGI
$95.0K $19.12/SF
− OpEx
−$28.5K −$5.74/SF
NOI
$66.5K $13.39/SF
Area
ZIP 78223
Vacancy
4.00%
Lease Rate
$19.92 /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%
$1,330,060
Cap Rate 7%
$950,043
Cap Rate 9%
$738,922
Alternative Uses
Best Use
Retail
$950.0K
$831.3K – $1.11M
NOI $66,503 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.05M – $1.39M
NOI $83,629 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Explore this area
Business Placement
Demographics for 78223, TX
55,705
Population
22,278
Households
2.5
Avg Household Size
35
Median Age
12%
College-Educated
78%
High-School Grad
40.9 sq mi
ZIP Area
1,362
Density / Sq Mi
$50,352
Median Household Income
$33,762
Median Earnings
$1,054
Median Rent
$156,700
Median Home Value
Market
Vacancy Rate% for Retail in San Antonio, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - OCL-zoned site with substantial road exposure and public water and sewer service.
Where is this commercial land located?
The property is located at 12020 S US Highway 181 San Antonio, TX.
What is the asking price?
The asking price for this property is $1,545,000.
What are key features of this property?
This property features: 1.67‑acre commercial land site at the intersection of S US Highway 181 and Foster Road; Approximately 290 feet of frontage along Hwy 181; Approximately 238 feet of frontage along Foster Road
