Apartment
New
For Sale
$3,500,000
140 S Fredericksburg St, San Marcos, TX 78666
Completed in 2020, the property features multiple unit sizes and stainless-steel kitchen appliances.
Property Size11,124 SF
Price / SF$314.64
Days on Market4
Property Features for 140 S Fredericksburg St
General Information
Standard status
Active
Size
11,124 SF
Building Details
Year Built
2020
Listing Agency:
Monica & Company Real Estate
Listed By:
Michael Nolen · License #0621420
(254) 931-0102
Source:
Brandyerocca
Added: Oct 1
Last Checked: Oct 3 at 12:58AM
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 Monica & Company Real Estate
Investment Insights
Based on property information with market context.
R Squared is an apartment property in San Marcos, completed in 2020. Its units come in a range of sizes and include stainless-steel kitchen appliances.
The property is in downtown San Marcos, near Texas State University, shopping centers, and recreational destinations.
The property is in downtown San Marcos, near Texas State University, shopping centers, and recreational destinations.
Key Highlights
- Built in 2020
- Multiple unit sizes
- Stainless‑steel kitchen appliances
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
$170,522
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
4.87%
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%
$3,410,440
$3.4M
Cap Rate 7%
$2,436,029
$2.4M
Cap Rate 9%
$1,894,689
$1.9M
Market Conditions
NOI Build-Up for 11,124 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
$327.0K $29.40/SF
− Vacancy
−$17.0K −$1.53/SF
EGI
$310.0K $27.87/SF
− OpEx
−$139.5K −$12.54/SF
NOI
$170.5K $15.33/SF
Area
Hays County, TX
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
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%
$3,410,440
Cap Rate 7%
$2,436,029
Cap Rate 9%
$1,894,689
Alternative Uses
Best Use
Apartment 5plus
$2.44M
$2.13M – $2.84M
NOI $170,522 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.65M
$4.07M – $5.43M
NOI $325,508 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,742
Businesses Nearby
Explore this area
Business Placement
Demographics for 78666, TX
86,584
Population
36,354
Households
2.4
Avg Household Size
27
Median Age
35%
College-Educated
89%
High-School Grad
192.4 sq mi
ZIP Area
450
Density / Sq Mi
$55,478
Median Household Income
$25,890
Median Earnings
$1,294
Median Rent
$271,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Completed in 2020, the property features multiple unit sizes and stainless-steel kitchen appliances.
Where is this apartment building located?
The property is located at 140 S Fredericksburg St San Marcos, TX.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Built in 2020; Multiple unit sizes; Stainless‑steel kitchen appliances
