Furnished Live-Work
New
For Sale
$390,000
1633 W Kings Hwy, San Antonio, TX 78201
C-1-zoned property with wood floors, parking, and a furnished secondary apartment with kitchen and full bath.
Property Size1,620 SF
Price / SF$240.74
Days on Market2
Property Features for 1633 W Kings Hwy
General Information
Standard status
Active
Size
1,620 SF
Property subtype
Multi-Family
Building Details
Year Built
1928
Listing Agency:
Trinidad Realty Partners, Inc
(210) 865-8207
Listed By:
Diana Rosenberger
Source:
Sarahildebrandaguilera
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 30 at 5:28PM
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 Trinidad Realty Partners, Inc
Investment Insights
Based on property information with market context.
Built in 1928, this 2,120-square-foot live-work property combines a primary building with a separate garage apartment. The main structure includes a study, half bath, full kitchen, two rooms, and a full bathroom, with wood flooring throughout. The garage apartment provides one bedroom, a full bath, and its own kitchen. The property is offered furnished and includes on-site parking.
Located at 1633 W Kings Hwy in San Antonio, the property sits one block from the Art Deco District. C-1 zoning supports the stated live-work configuration and light commercial use. The outbuilding adds flexible enclosed space for apartment, storage, office, or retail functions as described.
Located at 1633 W Kings Hwy in San Antonio, the property sits one block from the Art Deco District. C-1 zoning supports the stated live-work configuration and light commercial use. The outbuilding adds flexible enclosed space for apartment, storage, office, or retail functions as described.
Key Highlights
- 2,120 SF live‑work property built in 1928
- C‑1 zoning with stated light‑commercial use
- Separate garage apartment with 1 bedroom, full bath, and kitchen
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
$22,079
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
5.66%
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%
$441,580
$441.6K
Cap Rate 7%
$315,414
$315.4K
Cap Rate 9%
$245,322
$245.3K
Market Conditions
NOI Build-Up for 1,620 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
$35.8K $22.08/SF
− Vacancy
−$6.3K −$3.91/SF
EGI
$29.4K $18.17/SF
− OpEx
−$7.4K −$4.54/SF
NOI
$22.1K $13.63/SF
Area
San Antonio, TX
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%
$441,580
Cap Rate 7%
$315,414
Cap Rate 9%
$245,322
Alternative Uses
Best Use
Office B
$315.4K
$276.0K – $368.0K
NOI $22,079 @ 7.0% cap · market cap 5.66%
Second Best
Mixed Use
$296.8K
$259.7K – $346.3K
NOI $20,777 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$413.2K
$361.6K – $482.1K
NOI $28,926 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,057
Businesses Nearby
Explore this area
Business Placement
Demographics for 78201, TX
42,005
Population
18,661
Households
2.3
Avg Household Size
39
Median Age
17%
College-Educated
73%
High-School Grad
7.1 sq mi
ZIP Area
5,916
Density / Sq Mi
$46,129
Median Household Income
$30,517
Median Earnings
$1,033
Median Rent
$187,400
Median Home Value
Market
Vacancy Rate% for Office in San Antonio, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - C-1-zoned property with wood floors, parking, and a furnished secondary apartment with kitchen and full bath.
Where is this live-work space located?
The property is located at 1633 W Kings Hwy San Antonio, TX.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 2,120 SF live‑work property built in 1928; C‑1 zoning with stated light‑commercial use; Separate garage apartment with 1 bedroom, full bath, and kitchen
