Santa Barbara-Style Mixed-Use
For Sale
$1,995,000
1703 Highway 35 S, Rockport, TX 78382
Office, storage, warehouse, and residential components create a flexible owner-user or investment property.
Property Size10,688 SF
Price / SF$186.66
Days on Market344
Property Features for 1703 Highway 35 S
General Information
Standard status
Active
Size
10,688 SF
Property subtype
Commercial
Additional Details
Warehouse Space
3,900 SF
Amenities
entry patio with ponds and natural landscaping
hurricane-rated windows
Building Details
Year Built
2006
Construction
ICF
Abandoned
No
Listing Agency:
Kuper Sotheby's Intl Realty
Listed By:
Adam Rivera
(210) 824-7878
Source:
Phyllisbrowning
Added: Sep 23, 2025
Changed: Aug 31
Last Checked: Aug 31 at 8:06PM
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 Intl Realty
Investment Insights
Based on property information with market context.
This Santa Barbara-inspired mixed-use property in Rockport combines office, showroom, storage, warehouse, and residential components. The primary 4,281-square-foot office/showroom includes two executive offices, six support offices, a conference room, file room, break room, two restrooms, and a reception and waiting area. Attached storage adds approximately 1,922 square feet with dual half-baths, while a separate 3,900-square-foot warehouse provides additional operational space. The property also includes a 2,680-square-foot residence above the commercial space.
Built in 2006, the structure features ICF construction and hurricane-rated windows. The entry patio includes two ponds with a circulation system, mature palms, natural landscaping, and parking with decorative inlaid slab rock. Located at 1703 Highway 35 S in Rockport, Texas, the property brings multiple commercial and residential components together in one building arrangement.
Built in 2006, the structure features ICF construction and hurricane-rated windows. The entry patio includes two ponds with a circulation system, mature palms, natural landscaping, and parking with decorative inlaid slab rock. Located at 1703 Highway 35 S in Rockport, Texas, the property brings multiple commercial and residential components together in one building arrangement.
Key Highlights
- 4,281‑square‑foot primary office/showroom with two executive offices and six support offices
- Approximately 1,922 square feet of attached storage with dual half‑baths
- Separate 3,900‑square‑foot warehouse
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
$152,312
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
7.63%
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%
$3,046,240
$3.0M
Cap Rate 7%
$2,175,886
$2.2M
Cap Rate 9%
$1,692,356
$1.7M
Market Conditions
NOI Build-Up for 10,688 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
$238.6K $22.32/SF
− Vacancy
−$35.5K −$3.32/SF
EGI
$203.1K $19.00/SF
− OpEx
−$50.8K −$4.75/SF
NOI
$152.3K $14.25/SF
Area
Aransas County, TX
Vacancy
14.87%
Lease Rate
$22.32 /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%
$3,046,240
Cap Rate 7%
$2,175,886
Cap Rate 9%
$1,692,356
Alternative Uses
Best Use
Office B
$2.18M
$1.90M – $2.54M
NOI $152,312 @ 7.0% cap · market cap 7.63%
Second Best
Mixed Use
$1.65M
$1.44M – $1.92M
NOI $115,430 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$4.09M
$3.58M – $4.77M
NOI $286,003 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
Explore this area
Business Placement
Demographics for 78382, TX
19,432
Population
13,048
Households
1.5
Avg Household Size
53
Median Age
30%
College-Educated
92%
High-School Grad
79.9 sq mi
ZIP Area
243
Density / Sq Mi
$63,434
Median Household Income
$38,741
Median Earnings
$1,147
Median Rent
$238,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office, storage, warehouse, and residential components create a flexible owner-user or investment property.
Where is this mixed-use property located?
The property is located at 1703 Highway 35 S Rockport, TX.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 4,281‑square‑foot primary office/showroom with two executive offices and six support offices; Approximately 1,922 square feet of attached storage with dual half‑baths; Separate 3,900‑square‑foot warehouse
