Professional Office Suite For
For Sale
$330,000
1913 Dutton Dr 405, San Marcos, TX 78666
Well-designed office suite with long-term tenant in place.
Property Size967 SF
Lot Size1.32 Acres
Days on Market166
Property Features for 1913 Dutton Dr 405
General Information
Standard status
Active
Size
967 SF
Lot size
1.32 Acres
Property subtype
Commercial
Building Details
Building Size
967 SF
Year Built
2014
Listing Agency:
All City Real Estate Ltd. Co
(512) 787-3869
Listed By:
Nick Stiler · License #0690734
(512) 787-3869
Source:
Elliman
Added: Mar 10
Changed: Aug 17
Last Checked: Aug 22 at 11:35AM
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 All City Real Estate Ltd. Co
Investment Insights
Based on property information with market context.
Suite 405 at 1913 Dutton Dr offers a professional workspace featuring a waiting area, four private offices, a spacious media/storage closet, and a private restroom. The suite includes stained concrete and high ceilings. Located in a Business Condominium Complex, the property is situated 0.5 miles from I-35 and 0.25 miles from the Hays County Government Center, directly across from Christus Santa Rosa Hospital and multiple medical complexes. The suite has a current lease in place for the next 5 years with a tenant that has been occupying the space for the previous decade. The base rent is $20,472 per year with $5.76 per year pass through.
Key Highlights
- Current long‑term lease in place (5 years) with established tenant.
- Prime location: close to I‑35, Hays County Government Center, and Christus Santa Rosa Hospital.
- Professional office space with four private offices, waiting area, and private restroom.
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
$23,059
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
6.99%
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%
$461,180
$461.2K
Cap Rate 7%
$329,414
$329.4K
Cap Rate 9%
$256,211
$256.2K
Market Conditions
NOI Build-Up for 967 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
$40.6K $42.00/SF
− Vacancy
−$9.9K −$10.21/SF
EGI
$30.7K $31.79/SF
− OpEx
−$7.7K −$7.95/SF
NOI
$23.1K $23.85/SF
Area
Hays County, TX
Vacancy
24.30%
Lease Rate
$42.00 /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%
$461,180
Cap Rate 7%
$329,414
Cap Rate 9%
$256,211
Alternative Uses
Best Use
Office B
$329.4K
$288.2K – $384.3K
NOI $23,059 @ 7.0% cap · market cap 6.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$404.2K
$353.7K – $471.6K
NOI $28,296 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Explore this area
Business Placement
Demographics for 78666, TX
86,584
Population
36,354
Households
2.4
Avg Household Size
27
Median Age
35%
College-Educated
89%
High-School Grad
192.4 sq mi
ZIP Area
450
Density / Sq Mi
$55,478
Median Household Income
$25,890
Median Earnings
$1,294
Median Rent
$271,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Well-designed office suite with long-term tenant in place.
Where is this office units located?
The property is located at 1913 Dutton Dr 405 San Marcos, TX.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Current long‑term lease in place (5 years) with established tenant.; Prime location: close to I‑35, Hays County Government Center, and Christus Santa Rosa Hospital.; Professional office space with four private offices, waiting area, and private restroom.
