San Antonio Fourplex Near
For Sale
$575,000
215 Blanco San, San Antonio, TX 78212
Fourplex near downtown San Antonio with hotel zoning potential.
Property Size3,213 SF
Lot Size0.17 Acres
Days on Market396
Property Features for 215 Blanco San
General Information
Standard status
Active
Size
3,213 SF
Lot size
0.17 Acres
Property subtype
Multi-Family
Amenities
Three+ Central
Composition
Building Details
Building Size
3,213 SF
Year Built
1920
Listing Agency:
KELLER WILLIS SAN ANTONIO INC
(210) 887-7080
Listed By:
Danny Charbel · License #582344
(210) 887-7080
Source:
Kw
Added: Jul 31, 2025
Changed: Aug 27
Last Checked: Aug 29 at 4:54PM
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 KELLER WILLIS SAN ANTONIO INC
Investment Insights
Based on property information with market context.
This fourplex is located minutes from downtown San Antonio and features central HVAC and ample parking. Zoned to allow for conversion into a small four-suite hotel, this property offers potential for various uses. The layout includes two units downstairs and two units upstairs. Covered parking is available in the back, along with storage space. The property is located minutes from San Pedro Springs Park and approximately 2 miles from downtown, potentially attracting tourists.
Key Highlights
- Potential to convert into a 4‑suite hotel (zoned for this purpose).
- Minutes from downtown San Antonio.
- House‑hacking opportunity: live in one unit and rent out the other three.
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
$36,982
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
6.43%
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%
$739,640
$739.6K
Cap Rate 7%
$528,314
$528.3K
Cap Rate 9%
$410,911
$410.9K
Market Conditions
NOI Build-Up for 3,213 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
$55.9K $17.40/SF
− Vacancy
−$3.1K −$0.96/SF
EGI
$52.8K $16.44/SF
− OpEx
−$15.8K −$4.93/SF
NOI
$37.0K $11.51/SF
Area
San Antonio, TX
Vacancy
5.50%
Lease Rate
$17.40 /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%
$739,640
Cap Rate 7%
$528,314
Cap Rate 9%
$410,911
Alternative Uses
Best Use
Multifamily LT 5
$528.3K
$462.3K – $616.4K
NOI $36,982 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$468.9K
$410.3K – $547.0K
NOI $32,820 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$819.6K
$717.1K – $956.2K
NOI $57,371 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,158
Businesses Nearby
Explore this area
Business Placement
Demographics for 78212, TX
26,738
Population
13,399
Households
2
Avg Household Size
39
Median Age
39%
College-Educated
85%
High-School Grad
6.9 sq mi
ZIP Area
3,875
Density / Sq Mi
$60,222
Median Household Income
$40,037
Median Earnings
$1,084
Median Rent
$299,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex near downtown San Antonio with hotel zoning potential.
Where is this quadplex located?
The property is located at 215 Blanco San San Antonio, TX.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Potential to convert into a 4‑suite hotel (zoned for this purpose).; Minutes from downtown San Antonio.; House‑hacking opportunity: live in one unit and rent out the other three.
