Mixed-Use Office and
For Sale
$1,995,000
1703 Highway 35 S, Rockport, TX 78382
COMMERCIAL - Rockport, TX
Property Size10,688 SF
Lot Size0.83 Acres
Price / SF$186.66
Days on Market165
Property Features for 1703 Highway 35 S
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Off Street, Garage
Subdivision
Manning
Lot features
Corner Lot, Landscaped
Standard status
Active
APN
3800133001000
Size
10,688 SF
Lot size
0.83 Acres
Taxes and HOA fees
Tax Description
MANNING, BLOCK 133, LOT 1-RA
Legal Description
MANNING, BLOCK 133, LOT 1-RA
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2006
Floors in Building
2
Listing Agency:
Kuper Sotheby's Intl Realty
(361) 749-4000
Listed By:
Adam Rivera · License #0645190
(210) 872-8683
Added: Mar 12
Changed: Aug 5
Last Checked: Aug 23 at 12:06AM
MLS# 473140
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 mixed-use property in Rockport, Texas combines a primary office/showroom with additional commercial and residential space. The main 4,281-square-foot layout includes two executive offices, six support offices, a conference room, file room, break room, two restrooms, and a reception and waiting area. The building also features ICF (Insulated Concrete Form) construction and hurricane-rated windows. A tile-roof exterior and an inviting entry patio with two ponds and natural landscaping set the tone for client-facing use.
The site includes ample parking and convenient access for staff and visitors. In addition to the office/showroom, there is approximately 1,922 square feet of attached storage with dual half-baths, plus a separate 3,900-square-foot warehouse for operational flexibility. Above the commercial space sits a 2,680-square-foot residence, offering optional executive housing, short-term rental income, or long-term residential leasing potential for an owner-user or investor.
The site includes ample parking and convenient access for staff and visitors. In addition to the office/showroom, there is approximately 1,922 square feet of attached storage with dual half-baths, plus a separate 3,900-square-foot warehouse for operational flexibility. Above the commercial space sits a 2,680-square-foot residence, offering optional executive housing, short-term rental income, or long-term residential leasing potential for an owner-user or investor.
Key Highlights
- 4,281 SF office/showroom with reception/waiting, conference room, break room, file room, 2 executive offices, 6 support offices, and 2 restrooms
- Additional space: 1,922 SF attached storage with dual half‑baths plus a separate 3,900 SF warehouse for operational flexibility
- 2,680 SF residence above the commercial space for potential executive housing, short‑term rentals, or long‑term leasing
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
Flex RnD
$1.42M
$1.25M – $1.66M
NOI $99,706 @ 7.0% cap · market cap 5.00%
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
Balanced
Demand for This Use
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?
Flex space - White stucco office/showroom with ICF construction plus attached storage, a separate warehouse, and an above residence in Rockport.
Where is this flex space 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 SF office/showroom with reception/waiting, conference room, break room, file room, 2 executive offices, 6 support offices, and 2 restrooms; Additional space: 1,922 SF attached storage with dual half‑baths plus a separate 3,900 SF warehouse for operational flexibility; 2,680 SF residence above the commercial space for potential executive housing, short‑term rentals, or long‑term leasing
