Renovated Office
For Sale
$1,200,000
2014 S Hackberry St, San Antonio, TX
Fully renovated office building with an open floor plan, multiple conference rooms, and 18 surface parking spaces.
Property Size6,300 SF
Price / SF$190.48
Days on Market81
Property Features for 2014 S Hackberry St
General Information
Standard status
Active
Size
6,300 SF
Total Parking Spaces
18
Zoning
I-1
Taxes and HOA fees
Annual Taxes
$17,449
Building Details
Year Built
1938
Listing Agency:
Phyllis Browning Company
(210) 824-7878
Listed By:
Lisa Grove · License #444720
(210) 857-7085
Source:
Exprealty
Added: Jun 17
Changed: Aug 20
Last Checked: Sep 5 at 11:01AM
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 Phyllis Browning Company
Investment Insights
Based on property information with market context.
2014 S Hackberry Street is a fully renovated, move-in-ready office building originally built in 1938. The property has been updated with new electrical, plumbing, HVAC, and a new roof, and offers a bright, open floor plan with a dedicated IT room, several conference rooms, and private workspaces.
The building is located just south of downtown San Antonio and provides 18 surface parking spaces. Flexible I-1 zoning is listed, along with proximity to southward CBD expansion tied to the new baseball stadium and nearby Marvel and Lone Star redevelopments.
The offering totals 6,300 square feet of modern, flexible office space and is configured to support both team collaboration and focused work areas.
The building is located just south of downtown San Antonio and provides 18 surface parking spaces. Flexible I-1 zoning is listed, along with proximity to southward CBD expansion tied to the new baseball stadium and nearby Marvel and Lone Star redevelopments.
The offering totals 6,300 square feet of modern, flexible office space and is configured to support both team collaboration and focused work areas.
Key Highlights
- Fully renovated, move‑in‑ready office building with 6,300 SF of modern, flexible space
- Bright open floor plan plus dedicated IT room, several conference rooms, and private work spaces
- Updates include new electrical, plumbing, HVAC, and roof
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
$85,862
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
7.16%
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%
$1,717,240
$1.7M
Cap Rate 7%
$1,226,600
$1.2M
Cap Rate 9%
$954,022
$954.0K
Market Conditions
NOI Build-Up for 6,300 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
$139.1K $22.08/SF
− Vacancy
−$24.6K −$3.91/SF
EGI
$114.5K $18.17/SF
− OpEx
−$28.6K −$4.54/SF
NOI
$85.9K $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%
$1,717,240
Cap Rate 7%
$1,226,600
Cap Rate 9%
$954,022
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,862 @ 7.0% cap · market cap 7.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.87M
NOI $112,492 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,142
Businesses Nearby
Explore this area
Business Placement
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 - Fully renovated office building with an open floor plan, multiple conference rooms, and 18 surface parking spaces.
Where is this office building located?
The property is located at 2014 S Hackberry St San Antonio, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Fully renovated, move‑in‑ready office building with 6,300 SF of modern, flexible space; Bright open floor plan plus dedicated IT room, several conference rooms, and private work spaces; Updates include new electrical, plumbing, HVAC, and roof
