Two-Story Office
For Sale
$489,750
1815 San Pedro Ave, San Antonio, TX 78212
C-2 zoning, an NCD-2 overlay, and San Pedro Ave frontage define this established office property.
Property Size1,749 SF
Price / SF$280.02
Days on Market49
Property Features for 1815 San Pedro Ave
General Information
Standard status
Active
Size
1,749 SF
Class
C
Property subtype
office
Zoning
C-2
Building Details
Year Built
1920
Buildings
1
Stories
2
Building Size
1,749 SF
Listing Agency:
San Antonio
Listed By:
Sarah Beth Cole
(210) 293-6869
Source:
Property.jll
Added: Jul 16
Changed: Aug 29
Last Checked: Sep 2 at 1:33PM
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 San Antonio
Investment Insights
Based on property information with market context.
This 1,749 SF office building offers a two-level layout suited to professional use. Constructed in 1920, the property includes a reception area, four offices, two restrooms, a small breakroom, a workroom, and an upstairs common area. The configuration includes three offices on the upper level and additional work areas below, providing a practical separation of reception, private offices, and support functions.
The property fronts San Pedro Ave in San Antonio, near the Monte Vista and Five Points neighborhoods. Restaurants and coffee shops are located nearby. Zoning is C-2 with an NCD-2 overlay, adding defined land-use information for evaluating the office asset.
The property fronts San Pedro Ave in San Antonio, near the Monte Vista and Five Points neighborhoods. Restaurants and coffee shops are located nearby. Zoning is C-2 with an NCD-2 overlay, adding defined land-use information for evaluating the office asset.
Key Highlights
- 1,749 SF office building constructed in 1920
- Two‑level layout with 4 offices, reception area, workroom, breakroom, and 2 restrooms
- Upper floor includes 3 offices, a common area, and bathroom
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
$23,837
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
4.87%
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%
$476,740
$476.7K
Cap Rate 7%
$340,529
$340.5K
Cap Rate 9%
$264,856
$264.9K
Market Conditions
NOI Build-Up for 1,749 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
$38.6K $22.08/SF
− Vacancy
−$6.8K −$3.91/SF
EGI
$31.8K $18.17/SF
− OpEx
−$7.9K −$4.54/SF
NOI
$23.8K $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%
$476,740
Cap Rate 7%
$340,529
Cap Rate 9%
$264,856
Alternative Uses
Best Use
Office B
$340.5K
$298.0K – $397.3K
NOI $23,837 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$446.1K
$390.4K – $520.5K
NOI $31,230 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,282
Businesses Nearby
Explore this area
Business Placement
Demographics for 78212, TX
26,738
Population
13,399
Households
2
Avg Household Size
39
Median Age
39%
College-Educated
85%
High-School Grad
6.9 sq mi
ZIP Area
3,875
Density / Sq Mi
$60,222
Median Household Income
$40,037
Median Earnings
$1,084
Median Rent
$299,400
Median Home Value
Market
Vacancy Rate% for Office in San Antonio, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - C-2 zoning, an NCD-2 overlay, and San Pedro Ave frontage define this established office property.
Where is this office building located?
The property is located at 1815 San Pedro Ave San Antonio, TX.
What is the asking price?
The asking price for this property is $489,750.
What are key features of this property?
This property features: 1,749 SF office building constructed in 1920; Two‑level layout with 4 offices, reception area, workroom, breakroom, and 2 restrooms; Upper floor includes 3 offices, a common area, and bathroom
