Updated Storefront
New
For Sale
$224,900
2002 N Wheeler Street, Victoria, TX 77901
Flexible commercial layout with an updated kitchen, hardwood floors, private outdoor space, and included furniture and appliances.
Property Size1,248 SF
Price / SF$180.21
Days on Market2
Property Features for 2002 N Wheeler Street
General Information
Standard status
Active
Size
1,248 SF
Building Details
Buildings
1
Listing Agency:
GC Real Estate LLC
(361) 550-7497
Listed By:
Carol Alexander · License #0743810
(361) 649-3959
Source:
Cornerstone-properties
Added: Sep 15
Last Checked: Sep 15 at 2:49PM
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 GC Real Estate LLC
Investment Insights
Based on property information with market context.
Positioned across from St. Joseph High School, this 1,248-square-foot storefront property offers a three-bedroom, two-bathroom layout adaptable to retail, salon, boutique, or small office use. The interior includes refreshed paint, hardwood flooring, French doors with classic hardware, and a kitchen that can be separated from the main living area for added privacy.
Exterior features include a spacious backyard, security lighting, a privacy fence, and a sprinkler system. The roof was installed in 2021 with a 30-year specification. Furniture and appliances are included with the sale, providing additional equipment for the next occupant.
Exterior features include a spacious backyard, security lighting, a privacy fence, and a sprinkler system. The roof was installed in 2021 with a 30-year specification. Furniture and appliances are included with the sale, providing additional equipment for the next occupant.
Key Highlights
- 1,248‑square‑foot storefront property across from St. Joseph High School
- Three‑bedroom, two‑bathroom configuration
- Updated kitchen with separation from the main interior
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
$18,033
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
8.02%
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%
$360,660
$360.7K
Cap Rate 7%
$257,614
$257.6K
Cap Rate 9%
$200,367
$200.4K
Market Conditions
NOI Build-Up for 1,248 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
$27.4K $21.96/SF
− Vacancy
−$1.6K −$1.32/SF
EGI
$25.8K $20.64/SF
− OpEx
−$7.7K −$6.19/SF
NOI
$18.0K $14.45/SF
Area
Victoria County, TX
Vacancy
6.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
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%
$360,660
Cap Rate 7%
$257,614
Cap Rate 9%
$200,367
Alternative Uses
Best Use
Retail
$257.6K
$225.4K – $300.6K
NOI $18,033 @ 7.0% cap · market cap 8.02%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$13.71M
$12.00M – $16.00M
NOI $959,741 @ 7.0% cap · market cap 426.74%
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
1,235
Businesses Nearby
40k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Shops & Services 30%
Home Improvements & Furnishings 1%
Taco Bell
Dining
11,809 visits/mo
0.3 miles
Shipley Do-Nuts
Dining
5,833 visits/mo
0.4 miles
Family Dollar
Shops & Services
5,568 visits/mo
0.3 miles
The UPS Store
Shops & Services
5,416 visits/mo
0.2 miles
DoubleDave's Pizzaworks
Dining
4,224 visits/mo
0.1 miles
Demographics for 77901, TX
40,062
Population
17,438
Households
2.3
Avg Household Size
35
Median Age
15%
College-Educated
76%
High-School Grad
18.1 sq mi
ZIP Area
2,213
Density / Sq Mi
$57,728
Median Household Income
$33,127
Median Earnings
$1,105
Median Rent
$133,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial layout with an updated kitchen, hardwood floors, private outdoor space, and included furniture and appliances.
Where is this storefront property located?
The property is located at 2002 N Wheeler Street Victoria, TX.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: 1,248‑square‑foot storefront property across from St. Joseph High School; Three‑bedroom, two‑bathroom configuration; Updated kitchen with separation from the main interior
