Urban Flex
For Sale
Contact for pricing
Pending
1202 N Flores St, San Antonio, TX 78212
Near IH 10 and IH 35 with bus service at the neighboring property.
Property Size15,608 SF
Days on Market906
Property Features for 1202 N Flores St
General Information
Standard status
Pending
Size
15,608 SF
Property subtype
FLEX_R_AND_D
Additional Details
Highway Access
Yes
Listing Agency:
EP Commercial Real Estate
Listed By:
Elize Valdez Pruske · License #0367619
(210) 416-3491
Source:
Moodyscre
Added: Mar 12, 2024
Changed: Sep 2
Last Checked: Sep 1 at 11:27PM
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 EP Commercial Real Estate
Investment Insights
Based on property information with market context.
This 15,608-square-foot flex space is positioned in Five Points, an established urban area just north of the San Antonio CBD. Its setting places the property near downtown destinations and neighborhood services, including restaurants, hotels, coffee shops, bars, and parks.
Access is supported by proximity to IH 10 and IH 35, with connections to broader city highway systems. A bus stop is located at the neighboring property, while an adjacent market adds a nearby convenience amenity. San Pedro Park, a 46-acre public park with a swimming pool, library, tennis court, and softball center, is also within the surrounding area.
Access is supported by proximity to IH 10 and IH 35, with connections to broader city highway systems. A bus stop is located at the neighboring property, while an adjacent market adds a nearby convenience amenity. San Pedro Park, a 46-acre public park with a swimming pool, library, tennis court, and softball center, is also within the surrounding area.
Key Highlights
- 15,608‑square‑foot flex space
- Located in Five Points just north of the San Antonio CBD
- Near IH 10 and IH 35 for access to city highway systems
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
$89,284
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
6.87%
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%
$1,785,680
$1.8M
Cap Rate 7%
$1,275,486
$1.3M
Cap Rate 9%
$992,044
$992.0K
Market Conditions
NOI Build-Up for 15,608 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
$140.5K $9.00/SF
− Vacancy
−$12.9K −$0.83/SF
EGI
$127.5K $8.17/SF
− OpEx
−$38.3K −$2.45/SF
NOI
$89.3K $5.72/SF
Area
San Antonio, TX
Vacancy
9.20%
Lease Rate
$9.00 /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%
$1,785,680
Cap Rate 7%
$1,275,486
Cap Rate 9%
$992,044
Alternative Uses
Best Use
Industrial
$1.28M
$1.12M – $1.49M
NOI $89,284 @ 7.0% cap · market cap 6.87%
Second Best
Flex RnD
$1.26M
$1.10M – $1.47M
NOI $88,141 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$3.98M
$3.48M – $4.64M
NOI $278,693 @ 7.0% cap · market cap 21.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,283
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in San Antonio, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- catering — 618 McCullough Ave, San Antonio, TX 78215
- Guerrilla Gourmet — 1017 N Flores St, San Antonio, TX 78212
Frequently Asked Questions
What type of property is this?
Flex space - Near IH 10 and IH 35 with bus service at the neighboring property.
Where is this flex space located?
The property is located at 1202 N Flores St San Antonio, TX.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 15,608‑square‑foot flex space; Located in Five Points just north of the San Antonio CBD; Near IH 10 and IH 35 for access to city highway systems
