Office Building Near Planning
New
For Sale
$2,499,000
1964 South Alamo St, San Antonio, TX 78204
San Antonio, TX
Property Size11,200 SF
Lot Size0.43 Acres
Price / SF$223.13
Days on Market1
Property Features for 1964 South Alamo St
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
11,200 SF
Lot size
0.43 Acres
Building Details
Year built
1963
Listing Agency:
NextHome Leading Edge Realty
(210) 862-8663
Listed By:
Emilio Arroyo · License #525708,PersonLicenseNumber
(210) 825-5807
Added: Aug 28
Last Checked: Aug 28 at 3:06AM
MLS# 1621430
Copyright © 2026 NextHome, Inc. 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 office property at 1964 South Alamo St. contains 11,200 square feet on a 0.43-acre parcel. Built in 1963, the building offers an established commercial setting for office use.
The property is directly across from the San Antonio Planning and Zoning Building. Its position provides access to major highways extending in all four directions, connecting the site with the broader San Antonio area.
The property is directly across from the San Antonio Planning and Zoning Building. Its position provides access to major highways extending in all four directions, connecting the site with the broader San Antonio area.
Key Highlights
- 11,200‑square‑foot office building
- 0.43‑acre property at 1964 South Alamo St.
- Built in 1963
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
$152,643
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
6.11%
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%
$3,052,860
$3.1M
Cap Rate 7%
$2,180,614
$2.2M
Cap Rate 9%
$1,696,033
$1.7M
Market Conditions
NOI Build-Up for 11,200 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
$247.3K $22.08/SF
− Vacancy
−$43.8K −$3.91/SF
EGI
$203.5K $18.17/SF
− OpEx
−$50.9K −$4.54/SF
NOI
$152.6K $13.63/SF
Area
San Antonio, TX
Vacancy
17.70%
Lease Rate
$22.08 /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%
$3,052,860
Cap Rate 7%
$2,180,614
Cap Rate 9%
$1,696,033
Alternative Uses
Best Use
Office B
$2.18M
$1.91M – $2.54M
NOI $152,643 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.86M
$2.50M – $3.33M
NOI $199,985 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,334
Businesses Nearby
Explore this area
Business Placement
Demographics for 78204, TX
11,298
Population
6,210
Households
1.8
Avg Household Size
39
Median Age
27%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
4,184
Density / Sq Mi
$54,667
Median Household Income
$35,107
Median Earnings
$1,516
Median Rent
$142,200
Median Home Value
Market
Vacancy Rate% for Office in San Antonio, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office property across from San Antonio’s Planning and Zoning Building with access toward major highways.
Where is this office building located?
The property is located at 1964 South Alamo St San Antonio, TX.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: 11,200‑square‑foot office building; 0.43‑acre property at 1964 South Alamo St.; Built in 1963
