Highway Flex Space with Extra
For Sale
$795,000
1830 Highway 35 S, Rockport, TX 78382
Metal building with rear access and additional lots for storage, parking, or future expansion.
Property Size3,956 SF
Price / SF$200.96
Days on Market11
Property Features for 1830 Highway 35 S
General Information
Standard status
Active
Size
3,956 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Building Details
Buildings
1
Construction
metal building
Listing Agency:
Coast Properties
(361) 945-3082
Listed By:
Tracey Gaines · License #0500829
(361) 945-3082
Source:
Exprealty
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 22 at 9:25AM
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 Coast Properties
Investment Insights
Based on property information with market context.
This flex-space property includes a metal building suited to commercial operations requiring enclosed work or storage areas. The site also includes multiple additional lots, including approximately six parcels behind the building, creating room for vehicle storage, equipment, materials, parking, or expansion. An additional lot across the houses on Highway 35 South is included in the sale.
The property fronts Highway 35 South at 1830 Highway 35 S and has access from both 5th Street and the unfinished Young Street. Its configuration combines an improved metal structure with substantial additional land and multiple access points. Zoning and utility information are to be verified with the city.
The property fronts Highway 35 South at 1830 Highway 35 S and has access from both 5th Street and the unfinished Young Street. Its configuration combines an improved metal structure with substantial additional land and multiple access points. Zoning and utility information are to be verified with the city.
Key Highlights
- Metal building at 1830 Highway 35 S
- Approximately six additional lots behind the building
- Additional lot across the houses on Highway 35 South included
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
$45,609
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
5.74%
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%
$912,180
$912.2K
Cap Rate 7%
$651,557
$651.6K
Cap Rate 9%
$506,767
$506.8K
Market Conditions
NOI Build-Up for 3,956 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
$71.2K $18.00/SF
− Vacancy
−$6.1K −$1.53/SF
EGI
$65.2K $16.47/SF
− OpEx
−$19.5K −$4.94/SF
NOI
$45.6K $11.53/SF
Area
Aransas County, TX
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$912,180
Cap Rate 7%
$651,557
Cap Rate 9%
$506,767
Alternative Uses
Best Use
Retail
$651.6K
$570.1K – $760.2K
NOI $45,609 @ 7.0% cap · market cap 5.74%
Second Best
Flex RnD
$527.2K
$461.3K – $615.1K
NOI $36,905 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,860 @ 7.0% cap · market cap 13.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Under-served
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Metal building with rear access and additional lots for storage, parking, or future expansion.
Where is this flex space located?
The property is located at 1830 Highway 35 S Rockport, TX.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Metal building at 1830 Highway 35 S; Approximately six additional lots behind the building; Additional lot across the houses on Highway 35 South included
