Shell Office
For Sale
$1,110,000
9710 Westover Hills, San Antonio, TX 78251
Newly constructed office space within a seven-building professional campus at a prominent corner location.
Property Size3,025 SF
Price / SF$366.94
Days on Market1623
Property Features for 9710 Westover Hills
General Information
Standard status
Active
Size
3,025 SF
Property subtype
General Commercial
Amenities
3
0-1
10 Parking Spaces.
Building Details
Year Built
2022
Stories
1
Listing Agency:
(210) 344-9200
Listed By:
Great America Companies
Source:
Xome
Added: Mar 26, 2022
Changed: Sep 2
Last Checked: Sep 2 at 1:50PM
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 Great America Companies
Investment Insights
Based on property information with market context.
This office property is part of a seven-building office park completed in 2022. The building is offered in shell condition for office use, allowing the interior to be planned around the requirements of an incoming occupant. The property size is 3025, with 10 parking spaces provided.
The office park occupies the corner of Westover Hills Blvd. and Hunt Lane in San Antonio. Its campus setting provides a professional office environment within the Westover Hills area.
The office park occupies the corner of Westover Hills Blvd. and Hunt Lane in San Antonio. Its campus setting provides a professional office environment within the Westover Hills area.
Key Highlights
- 3025 property size
- Part of a seven‑building office park
- Shell condition intended for office use
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
$41,227
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
3.71%
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%
$824,540
$824.5K
Cap Rate 7%
$588,957
$589.0K
Cap Rate 9%
$458,078
$458.1K
Market Conditions
NOI Build-Up for 3,025 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
$66.8K $22.08/SF
− Vacancy
−$11.8K −$3.91/SF
EGI
$55.0K $18.17/SF
− OpEx
−$13.7K −$4.54/SF
NOI
$41.2K $13.63/SF
Area
ZIP 78251
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%
$824,540
Cap Rate 7%
$588,957
Cap Rate 9%
$458,078
Alternative Uses
Best Use
Office B
$589.0K
$515.3K – $687.1K
NOI $41,227 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$771.6K
$675.2K – $900.2K
NOI $54,014 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Explore this area
Business Placement
Demographics for 78251, TX
58,836
Population
22,945
Households
2.6
Avg Household Size
33
Median Age
33%
College-Educated
92%
High-School Grad
15.0 sq mi
ZIP Area
3,922
Density / Sq Mi
$78,025
Median Household Income
$42,396
Median Earnings
$1,371
Median Rent
$243,900
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 building - Newly constructed office space within a seven-building professional campus at a prominent corner location.
Where is this office building located?
The property is located at 9710 Westover Hills San Antonio, TX.
What is the asking price?
The asking price for this property is $1,110,000.
What are key features of this property?
This property features: 3025 property size; Part of a seven‑building office park; Shell condition intended for office use
