Waterfront Mixed-Use
For Sale
Contact for pricing
Pending
1819 Broadway St, Rockport, TX 78382
Four fully leased buildings combine retail and office uses under General Business zoning.
Property Size5,950 SF
Days on Market451
Property Features for 1819 Broadway St
General Information
Standard status
Pending
Size
5,950 SF
Property subtype
Mixed Use, Office, Retail
Zoning
General Business
Occupancy
100%
Investment Type
Owner/User
Additional Details
Road Access
Yes
Building Details
Year Built
1925
Buildings
4
Units
4
Tenancy
Multi
Listing Agency:
Luce Properties
(361) 779-5829
Listed By:
Dayne Luce · License #TX 0431648
Source:
Crexi
Added: Jun 7, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:46AM
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 Luce Properties
Investment Insights
Based on property information with market context.
Located at 1819 Broadway St in Rockport, this mixed-use commercial property contains four fully leased buildings totaling 5,950 square feet. The improvements include a retail storefront, title company space, pest control business space, and a flexible office building. Constructed in 1925, the property operates under General Business zoning.
The site includes waterfront ownership across Broadway Street, with views toward Little Bay. Its position on Broadway Street places the buildings within Rockport’s commercial setting while adding a waterfront component to the property. Existing occupancy spans retail and office-oriented uses across the four structures.
The site includes waterfront ownership across Broadway Street, with views toward Little Bay. Its position on Broadway Street places the buildings within Rockport’s commercial setting while adding a waterfront component to the property. Existing occupancy spans retail and office-oriented uses across the four structures.
Key Highlights
- Four fully leased commercial buildings
- 5,950 square feet across four buildings
- Retail storefront plus title company, pest control, and office uses
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
$84,792
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
8.70%
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%
$1,695,840
$1.7M
Cap Rate 7%
$1,211,314
$1.2M
Cap Rate 9%
$942,133
$942.1K
Market Conditions
NOI Build-Up for 5,950 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
$132.8K $22.32/SF
− Vacancy
−$19.7K −$3.32/SF
EGI
$113.1K $19.00/SF
− OpEx
−$28.3K −$4.75/SF
NOI
$84.8K $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%
$1,695,840
Cap Rate 7%
$1,211,314
Cap Rate 9%
$942,133
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.41M
NOI $84,792 @ 7.0% cap · market cap 8.70%
Second Best
Retail
$980.0K
$857.5K – $1.14M
NOI $68,598 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$2.27M
$1.99M – $2.65M
NOI $159,218 @ 7.0% cap · market cap 16.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
415
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 - Four fully leased buildings combine retail and office uses under General Business zoning.
Where is this mixed-use property located?
The property is located at 1819 Broadway St Rockport, TX.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Four fully leased commercial buildings; 5,950 square feet across four buildings; Retail storefront plus title company, pest control, and office uses
