Updated Storefront
For Sale
$224,900
2002 N Wheeler Street, Victoria, TX 77901
CommercialSale, Victoria, TX
Property Size1,248 SF
Lot Size0.23 Acres
Price / SF$180.21
Days on Market98
Property Features for 2002 N Wheeler Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage, Carport
Subdivision
College Park
Lot features
City Lot, Less Than Quarter Acre
Elementary school district
Victoria ISD
Middle school district
Victoria ISD
High school district
Victoria ISD
Directions
South on Navarro, right on Red River, right on North Wheeler. House is on the corner.
Standard status
Active
APN
44119
Size
1,248 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COLLEGE PARK S 70' OF LOT 1 BLOCK 1
Tax Annual Amount
3475
Legal Description
COLLEGE PARK S 70' OF LOT 1 BLOCK 1
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
fresh paint
hardwood flooring
French doors
updated kitchen
huge backyard
security lighting
privacy fence
sprinkler system
Building Details
Year built
1959
Floors in Building
1
Flooring type
Hardwood, Tile, Carpet
Building materials
VinylSiding
Roof type
Shingle, Composition
Listing Agency:
GC Real Estate LLC
(361) 550-7497
Listed By:
Carol Alexander · License #0743810
(361) 649-3959
Added: May 27
Changed: Aug 20
Last Checked: Sep 1 at 9:06PM
MLS# 614992
Copyright © 2026 Central Texas Multiple Listing Service. 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 1,248-square-foot storefront property occupies a 0.2314-acre site and is configured as a 3/2 home that can support a salon, boutique, or small business office. Interior improvements include fresh paint, hardwood flooring, French doors, and a kitchen that can be separated from the main living areas. Tile and carpet are also present, with garage and carport parking available.
The property is located at 2002 N Wheeler Street in Victoria, across from St. Joseph High School. Exterior features include a fenced backyard, security lighting, and a sprinkler system. The composition shingle roof was installed in 2021. Public water and public sewer serve the property, and furniture and appliances convey with the sale.
The property is located at 2002 N Wheeler Street in Victoria, across from St. Joseph High School. Exterior features include a fenced backyard, security lighting, and a sprinkler system. The composition shingle roof was installed in 2021. Public water and public sewer serve the property, and furniture and appliances convey with the sale.
Key Highlights
- 1,248‑square‑foot building on a 0.2314‑acre lot
- 3/2 layout with potential for a salon, boutique, or small business office
- 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
Property Profile
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible interior includes an updated kitchen, hardwood floors, private outdoor space, and parking improvements.
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 building on a 0.2314‑acre lot; 3/2 layout with potential for a salon, boutique, or small business office; Updated kitchen with separation from the main interior
