San Marcos Office Condo
1920 Corporate Dr, San Marcos, TX 78666
For Sale
Contact for pricing
Three net-leased office condos in San Marcos, Texas.
Property Size1,920 SF
Price / SF$677.08
Days on Market247
Property Features for 1920 Corporate Dr
General Information
Standard status
Size
Class
Property subtype
Zoning
Occupancy
Lease Type
Investment Type
Building Details
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
Carson Properties
Listed By:
Cody Lantelme · License TX #0638105
(979) 557-6546
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Jul 24 at 11:11AM
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 Carson Properties
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Investment Insights
Based on property information with market context.
Three office condos are available for purchase within the 1920 Corporate Drive Office Condominiums, a professionally managed complex in San Marcos, TX. The properties have a history of strong leasing performance. The location offers proximity to the Hays County Government Center, Texas State University, and IH-35. Suite A104 offers 1,920 square feet of space and is listed at $660,000. Suite B205 includes 955 square feet and is listed at $320,000. Suite A101 features 988 square feet and is listed at $320,000. All three units are currently leased. Rents are below market value, presenting a potential value-add opportunity.
Key Highlights
- Net leased office condo investment with existing leases in place.
- Three‑property package offered from $320,000 to $1,300,000.
- Located within the professionally managed 1920 Corporate Drive Office Condominiums.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,783
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$915,660
$915.7K
Cap Rate 7%
$654,043
$654.0K
Cap Rate 9%
$508,700
$508.7K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$80.6K $42.00/SF
− Vacancy
−$19.6K −$10.21/SF
EGI
$61.0K $31.79/SF
− OpEx
−$15.3K −$7.95/SF
NOI
$45.8K $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 Rate 5%
$915,660
Cap Rate 7%
$654,043
Cap Rate 9%
$508,700
Alternative Uses
Best Use
Office B
$654.0K
$572.3K – $763.1K
NOI $45,783 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$752.4K
$658.3K – $877.8K
NOI $52,667 @ 7.0% cap · market cap 4.05%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office Units in San Marcos
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Three net-leased office condos in San Marcos, Texas.
Where is this office unit located?
The property is located at 1920 Corporate Dr San Marcos, TX.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Net leased office condo investment with existing leases in place.; Three‑property package offered from $320,000 to $1,300,000.; Located within the professionally managed 1920 Corporate Drive Office Condominiums.
