Office Building with Highway
For Sale
$550,000
16870 N Highway 123, San Marcos, TX 78666
CommercialSale, San Marcos, TX
Property Size2,000 SF
Lot Size0.43 Acres
Price / SF$275
Days on Market96
Property Features for 16870 N Highway 123
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Special Needs, Driveway, RV
Exterior features
PropaneTankOwned
Accessibility
Accessible Approach with Ramp
Subdivision
Charles Henderson Surv #55 Abs
Lot features
Level, Outside City Limits, Quarter To Half Acre Lot
Elementary school
Bowie Elementary
Middle school
Owen Goodnight Middle School
High school
San Marcos High School
Elementary school district
San Marcos Cisd
Middle school district
San Marcos Cisd
High school district
San Marcos Cisd
Directions
Go Southeast from IH-35 from San Marcos towards Seguin on Highway 123 for approximately 5 miles. Property is on the right about 5 miles past the San Marcos High School football stadium.
Standard status
Active
APN
64207
Size
2,000 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ABS: 147 SUR: CHARLES HENDERSON 0.4280 AC.
Tax Annual Amount
2526
Legal Description
ABS: 147 SUR: CHARLES HENDERSON 0.4280 AC.
Utilities
Utilities
Propane
Sewer type
Public Sewer, Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1975
Floors in Building
1
Flooring type
Carpet, Tile
Building materials
Masonry, Stucco, WoodSiding
Roof type
Metal
Listing Agency:
Sundance Homes & Realty
Listed By:
Thomas Yankovoy · License #0298005
(512) 450-4373
Added: Jul 5
Changed: Oct 3
Last Checked: Oct 8 at 7:06PM
MLS# 618724
Copyright © 2026 Central Texas Multiple Listing Service. 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 office property includes a 2,000-square-foot building arranged with three rooms, one full-size kitchen, and two bathrooms. The improvements include carpet and tile flooring, central heating and air conditioning, an asphalt parking area, a separate storage building, a rear garden or patio area, and two separate A/C units. An existing MH/RV space with utility hookups is located behind the building. Construction materials include masonry, stucco, and wood siding, with a metal roof. The property was built in 1975 and includes an accessible approach with ramp.
The 0.428-acre site is at 16870 N Highway 123 in San Marcos, within Guadalupe County and the San Marcos ETJ. A large highway display sign provides roadside identification, while the surrounding corridor records a stated traffic count of 16,000+ vehicles per day. Bluebonnet Electric and Crystal Clear Water serve the property; water is public, and sewer service includes public sewer and a septic tank.
The 0.428-acre site is at 16870 N Highway 123 in San Marcos, within Guadalupe County and the San Marcos ETJ. A large highway display sign provides roadside identification, while the surrounding corridor records a stated traffic count of 16,000+ vehicles per day. Bluebonnet Electric and Crystal Clear Water serve the property; water is public, and sewer service includes public sewer and a septic tank.
Key Highlights
- 2,000 SF office building with 3 rooms, 1 full‑size kitchen, and 2 bathrooms
- 0.428‑acre site at 16870 N Highway 123, San Marcos, TX 78666
- 16,000+ vehicle traffic count per day on Highway 123
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,691
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$953,820
$953.8K
Cap Rate 7%
$681,300
$681.3K
Cap Rate 9%
$529,900
$529.9K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$84.0K $42.00/SF
− Vacancy
−$20.4K −$10.21/SF
EGI
$63.6K $31.79/SF
− OpEx
−$15.9K −$7.95/SF
NOI
$47.7K $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 Rate 5%
$953,820
Cap Rate 7%
$681,300
Cap Rate 9%
$529,900
Alternative Uses
Best Use
Office B
$681.3K
$596.1K – $794.9K
NOI $47,691 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$836.1K
$731.6K – $975.4K
NOI $58,524 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
55
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 building - Existing office improvements include a kitchen, two bathrooms, a storage building, parking, and rear utility hookups.
Where is this office building located?
The property is located at 16870 N Highway 123 San Marcos, 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: 2,000 SF office building with 3 rooms, 1 full‑size kitchen, and 2 bathrooms; 0.428‑acre site at 16870 N Highway 123, San Marcos, TX 78666; 16,000+ vehicle traffic count per day on Highway 123
