Historic Retail-Office with Wood
For Sale
$400,000
2020 Old Ranch Road 12, San Marcos, TX 78666
Character-filled space with original wood floors, suited for retail, office, or creative concepts near Texas State University.
Property Size932 SF
Price / SF$429.18
Days on Market97
Property Features for 2020 Old Ranch Road 12
General Information
Standard status
Active
Size
932 SF
Taxes and HOA fees
Annual Taxes
$5,735
Listing Agency:
Keller Williams Realty
(512) 448-4111
Listed By:
Andrew James · License #0436827
(512) 448-4111
Source:
Exprealty
Added: May 6
Changed: Aug 8
Last Checked: Jul 19 at 1:48AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This for-sale property offers old-world character with original wood floors, providing a distinct setting for retail, a professional office, or a creative mixed-use concept. The listing highlights significant renovation potential, with the existing “bones and character” positioned as a foundation for updates that preserve the property’s historic feel.
The property is located in San Marcos and described as being near Texas State University and the downtown area. Its commercial zoning is noted in the materials, supporting continued commercial use and the ability to tailor the space to a tenant’s operating needs.
For buyers looking for a flexible commercial space, the mix of original interior character and renovation opportunity may appeal to operators who want to differentiate their storefront or workspace. The configuration and zoning are presented as compatible with boutique retail, a cozy office environment, or a creative concept, with final fit depending on how the renovation and build-out are planned.
The property is located in San Marcos and described as being near Texas State University and the downtown area. Its commercial zoning is noted in the materials, supporting continued commercial use and the ability to tailor the space to a tenant’s operating needs.
For buyers looking for a flexible commercial space, the mix of original interior character and renovation opportunity may appeal to operators who want to differentiate their storefront or workspace. The configuration and zoning are presented as compatible with boutique retail, a cozy office environment, or a creative concept, with final fit depending on how the renovation and build-out are planned.
Key Highlights
- Character‑filled commercial space with original wood floors
- Commercial zoning provides flexibility for multiple business uses
- Suitable for retail, professional office, or creative mixed‑use concepts
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
$22,224
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
5.56%
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%
$444,480
$444.5K
Cap Rate 7%
$317,486
$317.5K
Cap Rate 9%
$246,933
$246.9K
Market Conditions
NOI Build-Up for 932 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
$39.1K $42.00/SF
− Vacancy
−$9.5K −$10.21/SF
EGI
$29.6K $31.79/SF
− OpEx
−$7.4K −$7.95/SF
NOI
$22.2K $23.85/SF
Area
Hays County, TX
Vacancy
24.30%
Lease Rate
$42.00 /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%
$444,480
Cap Rate 7%
$317,486
Cap Rate 9%
$246,933
Alternative Uses
Best Use
Office B
$317.5K
$277.8K – $370.4K
NOI $22,224 @ 7.0% cap · market cap 5.56%
Second Best
Retail
$234.4K
$205.1K – $273.5K
NOI $16,411 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$389.6K
$340.9K – $454.5K
NOI $27,272 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 78666, TX
86,584
Population
36,354
Households
2.4
Avg Household Size
27
Median Age
35%
College-Educated
89%
High-School Grad
192.4 sq mi
ZIP Area
450
Density / Sq Mi
$55,478
Median Household Income
$25,890
Median Earnings
$1,294
Median Rent
$271,900
Median Home Value
Market
Vacancy Rate% for Office 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?
Retail space - Character-filled space with original wood floors, suited for retail, office, or creative concepts near Texas State University.
Where is this retail space located?
The property is located at 2020 Old Ranch Road 12 San Marcos, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Character‑filled commercial space with original wood floors; Commercial zoning provides flexibility for multiple business uses; Suitable for retail, professional office, or creative mixed‑use concepts
