Modern Office Condo
For Sale
$290,000
1996 Schertz Pkwy Unit 404, Schertz, TX 78154
Office condo built in 2020, offering modern workspace in Schertz.
Property Size880 SF
Price / SF$329.55
Days on Market158
Property Features for 1996 Schertz Pkwy Unit 404
General Information
Standard status
Active
Size
880 SF
Property subtype
Office
Building Details
Year Built
2020
Listing Agency:
Caisson Real Estate
Listed By:
Adam Lippstone · License #TX #751039
(210) 552-4071
Source:
Caissonre
Added: Apr 1
Changed: Jul 23
Last Checked: Jul 23 at 5:05PM
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 Caisson Real Estate
Investment Insights
Based on property information with market context.
1996 Schertz Pkwy Unit 404 is an office condo built in 2020 with 880 SF of office space. The unit is presented as a modern, purpose-built workspace within the building.
The property is located in Schertz, Texas and is available for sale.
As an office condominium, Unit 404 offers a dedicated, controlled space for office use within the broader property.
The property is located in Schertz, Texas and is available for sale.
As an office condominium, Unit 404 offers a dedicated, controlled space for office use within the broader property.
Key Highlights
- 880 SF office condo built in 2020
- Modern, purpose‑built office space
- Located in Schertz, TX (1996 Schertz Pkwy, Unit 404)
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
$11,993
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
4.14%
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%
$239,860
$239.9K
Cap Rate 7%
$171,329
$171.3K
Cap Rate 9%
$133,256
$133.3K
Market Conditions
NOI Build-Up for 880 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
$19.4K $22.08/SF
− Vacancy
−$3.4K −$3.91/SF
EGI
$16.0K $18.17/SF
− OpEx
−$4.0K −$4.54/SF
NOI
$12.0K $13.63/SF
Area
Guadalupe County, 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%
$239,860
Cap Rate 7%
$171,329
Cap Rate 9%
$133,256
Alternative Uses
Best Use
Office B
$171.3K
$149.9K – $199.9K
NOI $11,993 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$230.8K
$202.0K – $269.3K
NOI $16,157 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 78154, TX
41,533
Population
15,688
Households
2.6
Avg Household Size
38
Median Age
40%
College-Educated
94%
High-School Grad
32.9 sq mi
ZIP Area
1,262
Density / Sq Mi
$97,465
Median Household Income
$47,552
Median Earnings
$1,664
Median Rent
$296,400
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 condo built in 2020, offering modern workspace in Schertz.
Where is this office units located?
The property is located at 1996 Schertz Pkwy Unit 404 Schertz, TX.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 880 SF office condo built in 2020; Modern, purpose‑built office space; Located in Schertz, TX (1996 Schertz Pkwy, Unit 404)
