Corner-Lot Flex
For Sale
$550,000
1651 W Woodlawn, San Antonio, TX 78201
C-2NA-zoned property with office, medical, retail, and gallery use potential.
Property Size3,828 SF
Price / SF$143.68
Days on Market25
Property Features for 1651 W Woodlawn
General Information
Standard status
Active
Size
3,828 SF
Total Parking Spaces
6
Zoning
C-2NA
Site & Location
Highway Access
Yes
Public Transit
Yes
Warehouse & Industrial
Warehouse Space
2,177 SF
Conditioned Warehouse
Yes
Amenities
full kitchen
outdoor patio
mini-split systems
Building Details
Year Built
1936
Listing Agency:
Kuper Sotheby's Int'l Realty
(210) 698-3100
Listed By:
Binkan Cinaroglu · License #592614
Source:
Drialtor
Added: Aug 4
Changed: Aug 28
Last Checked: Aug 25 at 4:27AM
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 Kuper Sotheby's Int'l Realty
Investment Insights
Based on property information with market context.
This 3,828-square-foot flex space occupies a corner lot and dates to 1936. The property is arranged for adaptable commercial use, with a kitchen, baths, workspace, and a gallery or retail area. A 665-square-foot outdoor patio adds another functional component, while multiple entry points may support separate access or dual operations.
The site includes four dedicated parking spaces and two street parking spaces. Four newer mini-split systems provide building-wide climate control. Public transportation is directly accessible, with proximity to I-10 and a location minutes from downtown San Antonio. The C-2NA zoning and existing layout are identified as suitable for professional office, medical, retail, or gallery uses.
The site includes four dedicated parking spaces and two street parking spaces. Four newer mini-split systems provide building-wide climate control. Public transportation is directly accessible, with proximity to I-10 and a location minutes from downtown San Antonio. The C-2NA zoning and existing layout are identified as suitable for professional office, medical, retail, or gallery uses.
Key Highlights
- 3,828‑square‑foot flex space on a prominent corner lot
- C‑2NA zoning with professional office, medical, retail, or gallery use potential
- 665‑square‑foot outdoor patio
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
$26,590
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
4.83%
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%
$531,800
$531.8K
Cap Rate 7%
$379,857
$379.9K
Cap Rate 9%
$295,444
$295.4K
Market Conditions
NOI Build-Up for 3,828 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
$34.5K $9.00/SF
− Vacancy
−$3.2K −$0.83/SF
EGI
$31.3K $8.17/SF
− OpEx
−$4.7K −$1.23/SF
NOI
$26.6K $6.95/SF
Area
San Antonio, TX
Vacancy
9.20%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$531,800
Cap Rate 7%
$379,857
Cap Rate 9%
$295,444
Alternative Uses
Best Use
Office B
$745.3K
$652.1K – $869.5K
NOI $52,171 @ 7.0% cap · market cap 9.49%
Second Best
Retail
$732.0K
$640.5K – $854.1K
NOI $51,243 @ 7.0% cap · market cap 9.32%
Theoretical Best
Office A
$976.5K
$854.4K – $1.14M
NOI $68,352 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
829
Businesses Nearby
Under-served
Demand for This Use
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.
Similar Off Market Nearby
- CJ's Catering — 2320 N Zarzamora St, San Antonio, TX 78201
- Sweet Treets & Eats Food Truck — 6832 Ingram Rd #102, San Antonio, TX 78238
Frequently Asked Questions
What type of property is this?
Flex space - C-2NA-zoned property with office, medical, retail, and gallery use potential.
Where is this flex space located?
The property is located at 1651 W Woodlawn San Antonio, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 3,828‑square‑foot flex space on a prominent corner lot; C‑2NA zoning with professional office, medical, retail, or gallery use potential; 665‑square‑foot outdoor patio
