Flex Workshop With Office
For Sale
$278,500
1920 N Chadbourne Street, San Angelo, TX 76903
Commercial Sale, San Angelo, TX
Property Size3,098 SF
Lot Size0.29 Acres
Price / SF$89.90
Days on Market54
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
3,098 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, Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
security system
paint cleaning station with sink
covered carport area
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: Jul 16
Changed: Aug 27
Last Checked: Sep 7 at 9:06AM
MLS# 200532
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.
This 3,098-square-foot flex property combines office, workshop, storage, and vehicle-service features within a single commercial building. The interior includes two large offices, one bathroom, a paint cleaning station with sink, and a heated and cooled workshop. Two garage bays are provided, including one electric door; the source also identifies dimensions of 10x15 and 7 feet. An additional workshop with storage expands the functional layout.
The 0.29-acre site is enclosed by private metal fencing and includes a small parking lot and covered carport area. Building systems include central air, electric heating, a metal roof, concrete flooring, public water, public sewer, and available electricity. A security system is also installed. Constructed in 1957, the property is located at 1920 N Chadbourne Street in San Angelo, Texas.
The 0.29-acre site is enclosed by private metal fencing and includes a small parking lot and covered carport area. Building systems include central air, electric heating, a metal roof, concrete flooring, public water, public sewer, and available electricity. A security system is also installed. Constructed in 1957, the property is located at 1920 N Chadbourne Street in San Angelo, Texas.
Key Highlights
- 3,098 SF flex property on a 0.29‑acre site
- Two large offices, one bathroom, and a heated and cooled workshop
- Two garage bays, including one electric door; dimensions listed as 10x15 and 7 feet
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
$22,110
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
7.94%
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%
$442,200
$442.2K
Cap Rate 7%
$315,857
$315.9K
Cap Rate 9%
$245,667
$245.7K
Market Conditions
NOI Build-Up for 3,098 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
$37.2K $12.00/SF
− Vacancy
−$3.2K −$1.02/SF
EGI
$34.0K $10.98/SF
− OpEx
−$11.9K −$3.84/SF
NOI
$22.1K $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%
$442,200
Cap Rate 7%
$315,857
Cap Rate 9%
$245,667
Alternative Uses
Best Use
Office B
$597.5K
$522.8K – $697.1K
NOI $41,823 @ 7.0% cap · market cap 15.02%
Second Best
Flex RnD
$315.9K
$276.4K – $368.5K
NOI $22,110 @ 7.0% cap · market cap 7.94%
Theoretical Best
Multifamily LT 5
$2.37M
$2.08M – $2.77M
NOI $166,007 @ 7.0% cap · market cap 59.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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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 - Fenced commercial property with office, workshop, garage, storage, and parking areas.
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 $278,500.
What are key features of this property?
This property features: 3,098 SF flex property on a 0.29‑acre site; Two large offices, one bathroom, and a heated and cooled workshop; Two garage bays, including one electric door; dimensions listed as 10x15 and 7 feet
