Office Suite with Reception
For Sale
$325,000
408 Sapphire Boulevard, Hewitt, TX 76643
Office suite features four offices, a reception area, two restrooms, and a kitchen, accessed through etched glass double doors.
Property Size1,200 SF
Price / SF$270.83
Days on Market1029
Property Features for 408 Sapphire Boulevard
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$4,834
Amenities
Central Air, Electric
3
C-2
Parking.
Paved Driveway, Lot.
City Road, Community Maintenance.
Building Details
Tenancy
Multi
Listing Agency:
(254) 420-4663
Listed By:
Woody Butler Properties
(254) 932-5022
Source:
Xome
Added: Nov 13, 2023
Changed: Sep 2
Last Checked: Sep 7 at 5:43AM
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 Woody Butler Properties
Investment Insights
Based on property information with market context.
This for-sale office unit includes four offices plus a reception area, along with two restrooms and a kitchen. An etched glass double-door entry leads into the main reception space, and interior finishes include ceramic tile flooring and crown molding.
The suite is designated as unit #C within a building that contains two other units. Monthly office park dues of $259.57 are listed for common area landscaping, water, and insurance.
The space is configured for a traditional office layout with dedicated rooms off the reception, supporting day-to-day client and staff workflow within the suite.
The suite is designated as unit #C within a building that contains two other units. Monthly office park dues of $259.57 are listed for common area landscaping, water, and insurance.
The space is configured for a traditional office layout with dedicated rooms off the reception, supporting day-to-day client and staff workflow within the suite.
Key Highlights
- Office suite includes 4 offices, a reception area, 2 restrooms, and a kitchen area
- Etched glass double front doors open to a large reception area
- Ceramic tile flooring and crown molding in the reception 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
$16,074
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
4.95%
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%
$321,480
$321.5K
Cap Rate 7%
$229,629
$229.6K
Cap Rate 9%
$178,600
$178.6K
Market Conditions
NOI Build-Up for 1,200 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
$29.5K $24.60/SF
− Vacancy
−$8.1K −$6.74/SF
EGI
$21.4K $17.86/SF
− OpEx
−$5.4K −$4.46/SF
NOI
$16.1K $13.39/SF
Area
McLennan County, TX
Vacancy
27.40%
Lease Rate
$24.60 /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%
$321,480
Cap Rate 7%
$229,629
Cap Rate 9%
$178,600
Alternative Uses
Best Use
Office B
$229.6K
$200.9K – $267.9K
NOI $16,074 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$14.95M
$13.08M – $17.44M
NOI $1,046,435 @ 7.0% cap · market cap 321.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
Explore this area
Business Placement
Demographics for 76643, TX
16,044
Population
6,231
Households
2.6
Avg Household Size
42
Median Age
37%
College-Educated
95%
High-School Grad
7.6 sq mi
ZIP Area
2,111
Density / Sq Mi
$83,798
Median Household Income
$50,432
Median Earnings
$1,389
Median Rent
$252,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office suite features four offices, a reception area, two restrooms, and a kitchen, accessed through etched glass double doors.
Where is this office units located?
The property is located at 408 Sapphire Boulevard Hewitt, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Office suite includes 4 offices, a reception area, 2 restrooms, and a kitchen area; Etched glass double front doors open to a large reception area; Ceramic tile flooring and crown molding in the reception area
