Leased Office Units with Highway
For Sale
$429,000
200 Highway 35 N, Rockport, TX 78382
CommercialSale, Rockport, TX
Property Size2,112 SF
Lot Size0.18 Acres
Price / SF$203.13
Days on Market23
Property Features for 200 Highway 35 N
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
Smith and Wood
Lot features
Interior Lot
Directions
Corner of Hwy 35 N & N Church St
Standard status
Active
APN
32551
Size
2,112 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
SMITH AND WOOD, BLOCK 26, LOT 9 & 10
Legal Description
SMITH AND WOOD, BLOCK 26, LOT 9 & 10
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1975
Floors in Building
1
Listing Agency:
LUCE PROPERTIES
(361) 729-9161
Listed By:
Dayne Luce · License #0431648
(361) 779-5829
Added: Aug 19
Changed: Sep 10
Last Checked: Sep 10 at 4:06PM
MLS# 482312
Copyright © 2026 South Texas Multiple Listing Service, LLC. 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 2,112-square-foot office property occupies a 0.18-acre site along Business Highway 35 in Rockport. The building dates to 1975 and has central heating and air conditioning, with public water and sewer serving the property. Interior photographs reflect renovations completed in 2018 and 2019, before the current tenants took occupancy. Both sides are presently leased.
The address provides highway frontage and access near downtown Rockport, the courthouse, Rockport Beach, the waterfront, and established commercial businesses. Its location in the 78382 ZIP code places the office asset within a developed portion of Aransas County with nearby civic, retail, and recreational destinations.
The address provides highway frontage and access near downtown Rockport, the courthouse, Rockport Beach, the waterfront, and established commercial businesses. Its location in the 78382 ZIP code places the office asset within a developed portion of Aransas County with nearby civic, retail, and recreational destinations.
Key Highlights
- 2,112‑square‑foot office property on a 0.18‑acre site
- Both sides currently leased
- Frontage along Business Highway 35
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
$30,098
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
7.02%
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%
$601,960
$602.0K
Cap Rate 7%
$429,971
$430.0K
Cap Rate 9%
$334,422
$334.4K
Market Conditions
NOI Build-Up for 2,112 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
$47.1K $22.32/SF
− Vacancy
−$7.0K −$3.32/SF
EGI
$40.1K $19.00/SF
− OpEx
−$10.0K −$4.75/SF
NOI
$30.1K $14.25/SF
Area
Aransas County, TX
Vacancy
14.87%
Lease Rate
$22.32 /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%
$601,960
Cap Rate 7%
$429,971
Cap Rate 9%
$334,422
Alternative Uses
Best Use
Office B
$430.0K
$376.2K – $501.6K
NOI $30,098 @ 7.0% cap · market cap 7.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$807.4K
$706.5K – $941.9K
NOI $56,516 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 78382, TX
19,432
Population
13,048
Households
1.5
Avg Household Size
53
Median Age
30%
College-Educated
92%
High-School Grad
79.9 sq mi
ZIP Area
243
Density / Sq Mi
$63,434
Median Household Income
$38,741
Median Earnings
$1,147
Median Rent
$238,200
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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Frequently Asked Questions
What type of property is this?
Office units - Office property with both sides leased, central HVAC, and public water and sewer service.
Where is this office units located?
The property is located at 200 Highway 35 N Rockport, TX.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 2,112‑square‑foot office property on a 0.18‑acre site; Both sides currently leased; Frontage along Business Highway 35
