Listing Agency: Broll & Associates, REALTORS c***@gmail.com Show Phone

Listed By: Bo Broll Broll Show Phone

Source: Exprealty

Added: Jan 20, 2023 Changed: Aug 20 Last Checked: Aug 22 at 11:38AM

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Investment Insights

Based on property information with market context.

This 4,000 sqft warehouse and office space is situated on 0.41 acres, presenting an opportunity for small businesses. Currently operating as an upholstery business, the property includes ample front parking and storage space. A notable feature is the 40 solar panels installed on the roof, contributing to reduced electricity costs. The warehouse is equipped with three large overhead garage doors, accommodating boats, trucks, or recreational vehicles. A car lift, installed two years ago, is included with the property. The interior comprises ample workspace and storage, along with two restrooms and a full kitchen. An additional room above the downstairs office can serve as a bedroom or a second private office. The sale includes the land, buildings, and attached fixtures such as the car lift and solar panels. While the asking price does not include the upholstery business, the owner is open to negotiating a buyout of both the property and the business. This property is suitable for various businesses, including automotive, mechanic, fabrication, retail, and personal training (gym).

Key Highlights

• 4,000 sqft warehouse and office space on .41 acres, suitable for various businesses.
• Includes 40 solar panels for reduced electricity costs.
• Features 3 large overhead garage doors for accommodating large vehicles.

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

$32,342

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

7.61%

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%

$646,840 $646.8K

Cap Rate 7%

$462,029 $462.0K

Cap Rate 9%

$359,356 $359.4K

Market Conditions

NOI Build-Up for 4,000 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

$52.3K $13.08/SF

− Vacancy

−$2.6K −$0.64/SF

EGI

$49.8K $12.44/SF

− OpEx

−$17.4K −$4.35/SF

NOI

$32.3K $8.09/SF

Area

Bexar County, TX

Vacancy

4.90%

Lease Rate

$13.08 /SF/Yr

Expense Ratio

35.00%

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%

$646,840

Cap Rate 7%

$462,029

Cap Rate 9%

$359,356

Alternative Uses

Best Use

Office B

$920.6K

$805.5K – $1.07M (±1% cap)

NOI $64,440 @ 7.0% cap · market cap 15.16%

Second Best

Retail

$760.3K

$665.3K – $887.0K (±1% cap)

NOI $53,222 @ 7.0% cap · market cap 12.52%

Theoretical Best

Office A

$1.08M

$947.3K – $1.26M (±1% cap)

NOI $75,784 @ 7.0% cap · market cap 17.83%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Office Units

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Parking Lot & Garage Hair Salon Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

266

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 78219, TX

16,509

Population

6,303

Households

2.6

Avg Household Size

33

Median Age

13%

College-Educated

77%

High-School Grad

15.7 sq mi

ZIP Area

1,052

Density / Sq Mi

$52,147

Median Household Income

$31,608

Median Earnings

$1,128

Median Rent

$155,200

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - 4,000 sqft warehouse/office on 0.41 acres, suitable for various businesses.

Where is this warehouse located?

The property is located at 2627 Ackerman Rd Kirby, TX.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: 4,000 sqft warehouse and office space on .41 acres, suitable for various businesses.; Includes **40 solar panels for reduced electricity costs**.; Features **3 large overhead garage doors for accommodating large vehicles**.