Flex Space with Heated
New
For Sale
$277,800
1920 N Chadbourne Street, San Angelo, TX 76903
Commercial Sale, San Angelo, TX
Property Size1,898 SF
Lot Size0.29 Acres
Price / SF$146.36
Days on Market4
Property Features for 1920 N Chadbourne Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
General Commercial
Security features
Security System
Fencing
Fenced, Privacy
Subdivision
Lasker
Standard status
Active
APN
R000015191
Size
1,898 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Description
Acres: 0.289 Lot: 1 & W 40 Ft Of Lot 2 Blk: 31 Subd: Lasker Addition
Legal Description
Acres: 0.289 Lot: 1 & W 40 Ft Of Lot 2 Blk: 31 Subd: Lasker Addition
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1957
Flooring type
Concrete
Building materials
Concrete, Frame
Roof type
Metal
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Tiffany Sellers · License #0702183
(325) 450-8806
Added: Sep 30
Last Checked: Oct 3 at 6:06AM
MLS# 202588
Copyright © 2026 San Angelo Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Configured as flex space, this 1,898-square-foot property includes two offices, one bathroom, and a heated and cooled workshop. A paint-cleaning station with sink, two garage bays—one with an electric door—and a separate workshop with storage add to the working layout. The building dates to 1957 and has concrete flooring, central heating and cooling, and a metal roof.
The 0.29-acre parcel at 1920 N Chadbourne Street in San Angelo is enclosed by private metal fencing. Site features include a small parking area, covered carport, and security system. Public water and sewer are available, along with electricity.
The 0.29-acre parcel at 1920 N Chadbourne Street in San Angelo is enclosed by private metal fencing. Site features include a small parking area, covered carport, and security system. Public water and sewer are available, along with electricity.
Key Highlights
- 1,898‑square‑foot flex property on a 0.29‑acre lot
- Heated and cooled workshop with paint‑cleaning station and sink
- Two offices and one 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
$13,546
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
4.88%
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%
$270,920
$270.9K
Cap Rate 7%
$193,514
$193.5K
Cap Rate 9%
$150,511
$150.5K
Market Conditions
NOI Build-Up for 1,898 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
$22.8K $12.00/SF
− Vacancy
−$1.9K −$1.02/SF
EGI
$20.8K $10.98/SF
− OpEx
−$7.3K −$3.84/SF
NOI
$13.5K $7.14/SF
Area
Tom Green County, TX
Vacancy
8.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$270,920
Cap Rate 7%
$193,514
Cap Rate 9%
$150,511
Alternative Uses
Best Use
Office B
$366.0K
$320.3K – $427.1K
NOI $25,623 @ 7.0% cap · market cap 9.22%
Second Best
Flex RnD
$193.5K
$169.3K – $225.8K
NOI $13,546 @ 7.0% cap · market cap 4.88%
Theoretical Best
Multifamily LT 5
$1.45M
$1.27M – $1.70M
NOI $101,705 @ 7.0% cap · market cap 36.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76903, TX
32,215
Population
14,169
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
78%
High-School Grad
25.0 sq mi
ZIP Area
1,289
Density / Sq Mi
$49,045
Median Household Income
$33,077
Median Earnings
$1,051
Median Rent
$115,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- BBQ Brothers — 1405 N Bryant Blvd, San Angelo, TX 76903
Frequently Asked Questions
What type of property is this?
Flex space - Two offices, a private fenced perimeter, and a separate storage workshop support a range of commercial operations.
Where is this flex space located?
The property is located at 1920 N Chadbourne Street San Angelo, TX.
What is the asking price?
The asking price for this property is $277,800.
What are key features of this property?
This property features: 1,898‑square‑foot flex property on a 0.29‑acre lot; Heated and cooled workshop with paint‑cleaning station and sink; Two offices and one bathroom
