Single-Story Brick Apartment
For Sale
$2,530,000
16020 Us Highway 87 West, Adkins, TX 78101
Eight duplex buildings offer furnished kitchens, private garage-storage areas, and laundry connections in a low-density residential setting.
Property Size16,720 SF
Lot Size5.45 Acres
Price / SF$151.32
Days on Market13
Property Features for 16020 Us Highway 87 West
General Information
Standard status
Active
Size
16,720 SF
Lot size
5.45 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
16 x 2BR/2BA
Multifamily Units
16
Additional Details
Gross Income
$252,000
Amenities
fenced dog park
fiber internet
Building Details
Year Built
2018
Buildings
8
Stories
1
Construction
4-Side Brick
Listing Agency:
Foster Family Real Estate
Listed By:
John Foster
(830) 302-2199
Source:
Phyllisbrowning
Added: Jul 29
Changed: Aug 9
Last Checked: Aug 10 at 3:38AM
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 Foster Family Real Estate
Investment Insights
Based on property information with market context.
This apartment property comprises 8 single-story duplex buildings with 16 rental units across approximately 5.45 acres. Constructed in 2018, the four-side brick buildings contain approximately 1,045 square feet per unit, with two bedrooms, two bathrooms, laminate and ceramic tile flooring, kitchen appliances, and laundry connections. Each unit also includes an approximately 427-square-foot garage and storage area with a concrete parking pad.
The property includes 16 electric meters supplied by GVEC Electric Co., two water meters from East Central Water Co., eight septic tanks, and fiber internet service. A fenced dog park serves the residential community. Approximately 2 acres extend toward US Highway 87 with highway frontage, while the property is approximately 1.5 miles from La Vernia and approximately 20 minutes east of San Antonio.
The property includes 16 electric meters supplied by GVEC Electric Co., two water meters from East Central Water Co., eight septic tanks, and fiber internet service. A fenced dog park serves the residential community. Approximately 2 acres extend toward US Highway 87 with highway frontage, while the property is approximately 1.5 miles from La Vernia and approximately 20 minutes east of San Antonio.
Key Highlights
- 16 rental units across 8 duplex buildings on approximately 5.45 acres
- 2018 construction with four‑side brick exteriors and single‑story layouts
- Each unit measures approximately 1,045 SF with 2 bedrooms and 2 bathrooms
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
$153,113
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
6.05%
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%
$3,062,260
$3.1M
Cap Rate 7%
$2,187,329
$2.2M
Cap Rate 9%
$1,701,256
$1.7M
Market Conditions
NOI Build-Up for 16,720 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
$301.0K $18.00/SF
− Vacancy
−$22.6K −$1.35/SF
EGI
$278.4K $16.65/SF
− OpEx
−$125.3K −$7.49/SF
NOI
$153.1K $9.16/SF
Area
Bexar County, TX
Vacancy
7.50%
Lease Rate
$18.00 /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%
$3,062,260
Cap Rate 7%
$2,187,329
Cap Rate 9%
$1,701,256
Alternative Uses
Best Use
Apartment 5plus
$2.19M
$1.91M – $2.55M
NOI $153,113 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.53M
$3.96M – $5.28M
NOI $316,775 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 78101, TX
9,104
Population
3,059
Households
3
Avg Household Size
44
Median Age
27%
College-Educated
87%
High-School Grad
52.9 sq mi
ZIP Area
172
Density / Sq Mi
$90,413
Median Household Income
$45,510
Median Earnings
$887
Median Rent
$273,200
Median Home Value
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 - Eight duplex buildings offer furnished kitchens, private garage-storage areas, and laundry connections in a low-density residential setting.
Where is this apartment building located?
The property is located at 16020 Us Highway 87 West Adkins, TX.
What is the asking price?
The asking price for this property is $2,530,000.
What are key features of this property?
This property features: 16 rental units across 8 duplex buildings on approximately 5.45 acres; 2018 construction with four‑side brick exteriors and single‑story layouts; Each unit measures approximately 1,045 SF with 2 bedrooms and 2 bathrooms
