Two-Suite Office and Retail
For Sale
$950,000
Pending
1605 US Highway, Portland, TX 78374
SINGLE_FAMILY - Portland, TX
Property Size5,500 SF
Lot Size0.48 Acres
Days on Market343
Property Features for 1605 US Highway
General Information
Property type
Residential
Property subtype
Office
Zoning
C-G
Zoning description
C-G
Subdivision
Portland-Oak Ridge #7
Lot features
Interior Lot
Standard status
Pending
APN
1046118
Size
5,500 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Description
OAK RIDGE ESTATES UNIT 7 BLK 3 LOT 5B
Legal Description
OAK RIDGE ESTATES UNIT 7 BLK 3 LOT 5B
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2002
Floors in Building
1
Listing Agency:
Cobb, Lundquist & Atnip, Inc.
(361) 854-4448
Listed By:
Wayne Lundquist · License #0163197
(361) 510-7371
Added: Aug 28, 2025
Changed: Jul 29
Last Checked: Aug 5 at 12:06PM
MLS# 464122
Copyright © 2026 South Texas Multiple Listing Service, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale property offers two available suites within a multi-suite office and retail setup, suited for a tenant looking for either office or retail space. The building includes ample parking and features a pole sign for visibility. An access road provides frontage for the suites, supporting straightforward customer and employee access.
The property is conveniently located between Billy Webb Dr. and Lang Rd., with nearby businesses and surrounding residential homes and apartments. The listing notes that there are 2 tenants in three remaining suites.
Zoned C-G, the building’s configuration is designed to accommodate office or retail operations across multiple suites, with current occupancy already in place.
The property is conveniently located between Billy Webb Dr. and Lang Rd., with nearby businesses and surrounding residential homes and apartments. The listing notes that there are 2 tenants in three remaining suites.
Zoned C-G, the building’s configuration is designed to accommodate office or retail operations across multiple suites, with current occupancy already in place.
Key Highlights
- Two suites available for lease for office or retail use
- Central heating and central air conditioning
- Year built 2002
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $130.7k | $23.76 |
| − Vacancy | −$35.8k | −$6.51 |
| EGI | $94.9k | $17.25 |
| − OpEx | −$23.7k | −$4.31 |
| NOI | $71.2k | $12.94 |
5,500 SF · lease $23.76/SF/yr · vacancy 27.40% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.02M
$889.4K – $1.19M
NOI $71,155 @ 7.0% cap · market cap 7.49%
Second Best
Retail
$352.2K
$308.2K – $410.9K
NOI $24,652 @ 7.0% cap · market cap 2.59%
Theoretical Best
Hotel Hospitality
$2.82M
$2.47M – $3.29M
NOI $197,505 @ 7.0% cap · market cap 20.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 78374, TX
20,281
Population
8,426
Households
2.4
Avg Household Size
35
Median Age
25%
College-Educated
92%
High-School Grad
18.6 sq mi
ZIP Area
1,090
Density / Sq Mi
$81,580
Median Household Income
$43,110
Median Earnings
$1,492
Median Rent
$225,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Two available suites in a C-G zoned building with ample parking, a pole sign, and access road frontage.
Where is this office units located?
The property is located at 1605 US Highway Portland, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two suites available for lease for office or retail use; Central heating and central air conditioning; Year built 2002
