Office Condominium with Private
New
For Sale
$1,300,000
1913 Dutton Dr 401-403, San Marcos, TX 78666
A 2019 professional suite combines private rooms, adaptable work areas and on-site surface parking.
Property Size3,817 SF
Price / SF$340.58
Days on Market3
Property Features for 1913 Dutton Dr 401-403
General Information
Standard status
Active
Size
3,817 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$17,026
Building Details
Building Size
3,817 SF
Year Built
2019
Listed By:
Henry Van Engelen
(512) 800-1138
Source:
Elliman
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 3 at 2:40AM
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 Henry Van Engelen
Investment Insights
Based on property information with market context.
This 3,817-square-foot office condominium, built in 2019, has private offices, private restrooms and flexible work areas. Interior finishes include carpet and laminate flooring, while a stone-veneer exterior gives the building a professional appearance. Central heating and heat-pump cooling serve the space. Water, sewer and electricity are connected, with cable availability and phone service also noted.
The property is part of the 1913 Dutton Drive Office Condominium development at 1913 Dutton Dr in San Marcos. Surface parking is available on site, and the location provides access to the greater San Marcos area.
The property is part of the 1913 Dutton Drive Office Condominium development at 1913 Dutton Dr in San Marcos. Surface parking is available on site, and the location provides access to the greater San Marcos area.
Key Highlights
- 3,817 square feet in an office condominium
- Built in 2019 with a stone‑veneer exterior
- Private offices, private restrooms and flexible work areas
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
$91,018
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
7.00%
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%
$1,820,360
$1.8M
Cap Rate 7%
$1,300,257
$1.3M
Cap Rate 9%
$1,011,311
$1.0M
Market Conditions
NOI Build-Up for 3,817 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
$160.3K $42.00/SF
− Vacancy
−$39.0K −$10.21/SF
EGI
$121.4K $31.79/SF
− OpEx
−$30.3K −$7.95/SF
NOI
$91.0K $23.85/SF
Area
Hays County, TX
Vacancy
24.30%
Lease Rate
$42.00 /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%
$1,820,360
Cap Rate 7%
$1,300,257
Cap Rate 9%
$1,011,311
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.52M
NOI $91,018 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,692 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
648
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
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 - A 2019 professional suite combines private rooms, adaptable work areas and on-site surface parking.
Where is this office units located?
The property is located at 1913 Dutton Dr 401-403 San Marcos, 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: 3,817 square feet in an office condominium; Built in 2019 with a stone‑veneer exterior; Private offices, private restrooms and flexible work areas
