Corner Lot Cold Shell
For Sale
Contact for pricing
7323 N Loop 1604 Unit 301 & 303, San Antonio, TX 78233
4,364 SF cold shell office space on corner lot.
Property Size4,364 SF
Price / SF$286.43
Days on Market462
Property Features for 7323 N Loop 1604 Unit 301 & 303
General Information
Standard status
Active
Size
4,364 SF
Total Parking Spaces
22
Property subtype
Office
Zoning
C-2
Investment Type
Owner/User
Listing Agency:
URBAN TEXAN REALTY GROUP
(210) 618-6924
Listed By:
Patrick Vallejo · License #663331
Source:
Crexi
Added: May 9, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:46AM
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 URBAN TEXAN REALTY GROUP
Investment Insights
Based on property information with market context.
This is a 4,364 square foot cold shell office space situated on a corner lot. The property benefits from 22 immediate parking spaces. It is conveniently located next to a Starbucks and in front of a fully leased multi-family facility. The location offers immediate access to 1604, Lookout Road, 35, and 3009. Additionally, it is in proximity to five hospitals or urgent care centers within 322 miles. This unique space is positioned to benefit from additional infrastructure development.
Key Highlights
- Prime location anchored by Starbucks and adjacent to a fully leased multi‑family facility.
- High visibility corner lot with 22 dedicated parking spaces.
- Significant opportunity to provide needed infrastructure in the 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
$59,476
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
4.76%
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%
$1,189,520
$1.2M
Cap Rate 7%
$849,657
$849.7K
Cap Rate 9%
$660,844
$660.8K
Market Conditions
NOI Build-Up for 4,364 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
$96.4K $22.08/SF
− Vacancy
−$17.1K −$3.91/SF
EGI
$79.3K $18.17/SF
− OpEx
−$19.8K −$4.54/SF
NOI
$59.5K $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%
$1,189,520
Cap Rate 7%
$849,657
Cap Rate 9%
$660,844
Alternative Uses
Best Use
Office B
$849.7K
$743.5K – $991.3K
NOI $59,476 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$974.0K – $1.30M
NOI $77,923 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 78233, TX
49,442
Population
19,396
Households
2.5
Avg Household Size
36
Median Age
27%
College-Educated
91%
High-School Grad
13.7 sq mi
ZIP Area
3,609
Density / Sq Mi
$73,729
Median Household Income
$41,817
Median Earnings
$1,456
Median Rent
$203,300
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?
Office units - 4,364 SF cold shell office space on corner lot.
Where is this office units located?
The property is located at 7323 N Loop 1604 Unit 301 & 303 San Antonio, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Prime location anchored by Starbucks and adjacent to a fully leased multi‑family facility.; High visibility corner lot with **22 dedicated parking spaces**.; Significant opportunity to provide needed infrastructure in the area.
