Multifamily
For Sale
$410,000
2003 Anchor Dr., San Antonio, TX 78213
Constructed in 1975 and conveyed as-is with no seller repairs.
Property Size3,078 SF
Price / SF$133.20
Days on Market57
Property Features for 2003 Anchor Dr.
General Information
Standard status
Active
Size
3,078 SF
Property subtype
Multi-Family
Building Details
Year Built
1975
Listing Agency:
Rey Garza Real Estate
Listed By:
Rey Garza
(210) 558-4747
Source:
Theswinneygroup
Added: Jul 21
Changed: Sep 8
Last Checked: Sep 14 at 1:20PM
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 Rey Garza Real Estate
Investment Insights
Based on property information with market context.
This multifamily property at 2003 Anchor Dr. in San Antonio, Texas, was built in 1975. The sale is offered in the property’s existing condition, with no repairs to be completed by the seller.
Key Highlights
- Multifamily property built in 1975
- Sale offered as‑is
- Seller will make no repairs
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
$31,441
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
7.67%
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%
$628,820
$628.8K
Cap Rate 7%
$449,157
$449.2K
Cap Rate 9%
$349,344
$349.3K
Market Conditions
NOI Build-Up for 3,078 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
$60.9K $19.80/SF
− Vacancy
−$3.8K −$1.23/SF
EGI
$57.2K $18.57/SF
− OpEx
−$25.7K −$8.36/SF
NOI
$31.4K $10.21/SF
Area
San Antonio, TX
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$628,820
Cap Rate 7%
$449,157
Cap Rate 9%
$349,344
Alternative Uses
Best Use
Apartment 5plus
$449.2K
$393.0K – $524.0K
NOI $31,441 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$785.1K
$687.0K – $916.0K
NOI $54,960 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,212
Businesses Nearby
Explore this area
Business Placement
Demographics for 78213, TX
40,589
Population
18,184
Households
2.2
Avg Household Size
36
Median Age
23%
College-Educated
81%
High-School Grad
8.0 sq mi
ZIP Area
5,074
Density / Sq Mi
$53,342
Median Household Income
$34,799
Median Earnings
$1,161
Median Rent
$199,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Constructed in 1975 and conveyed as-is with no seller repairs.
Where is this multifamily property located?
The property is located at 2003 Anchor Dr. San Antonio, TX.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Multifamily property built in 1975; Sale offered as‑is; Seller will make no repairs
