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    New Commercial Space in Portland Title is generated by Realmo AI

    205 Cedar Drive, Portland, TX 78374

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    New
    For Lease
    $2,450/Mo $23 SF/Yr (calc)

    COMMERCIAL - Portland, TX

    Type:Office
    Property size:
    1,250 SF
    Lot size:
    0.26 Acres
    Added:
    May 21, 2026
    Days on Market:
    6
    Last Refresh:
    May 26 at 10:06 am

    Property Features for 205 Cedar Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Property condition
    Under Construction
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Parking
    11
    Exterior features
    Landscaping
    Standard status
    Active
    APN
    107683
    Size
    1,250 SF
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Tax Description
    GREGORY-PORTLAND INDEPENDENT SCHOOL TRACT LOT 14

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    2020
    Floors in Building
    1
    Flooring type
    Unfinished
    Building materials
    MetalSiding, Stucco, Veneer

    We can help!

    Listing Contact
    Brenton Reagan
    Brenton Reagan

    Listing agent Brenton Reagan License #0669077

    Listing office Cass Real Estate 401 US Hwy 181, Portland, TX

    Listing date May 21, 2026

    MLS# 476799

    Copyright © 2026 South Texas Multiple Listing Service, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Brand new interior construction offering layout flexibility.
    • Prime location near City Hall, Community Center, and Hwy. 181 amenities.
    • Metal frame construction and high ceilings.
    • Owner will help with build‑out or finish‑out.
    • Blank slate allows for customization (second bathroom, multiple offices, open space).
    • New building in a booming area.

    Overview

    This brand new commercial space in Portland offers many layout possibilities. Its location is in a prime center near City Hall, the Community Center, and Humpal Physical Therapy, and it's less than a 1/4 mile from the many Hwy. 181 amenities like restaurants, shopping, Target, and Walmart. The other suite of this duplex is set up as a professional insurance office. With its metal frame construction and high ceilings, the space is essentially a shell, ready to be customized. The owner will help build out or finish out the space as needed, such as walls and drop ceiling, HVAC, and a restroom. The blank slate means you could add a second bathroom, many small offices, or leave it as one big open space. The property is situated on a lot of 0.26 acres. The property size is 1250 square feet. Many options are available in this new building in booming Portland. The intended use of the property is for commercial purposes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Pat Farias: Allstate ... Insurance Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    San Patricio
    State
    Texas
    Longitude
    -97.312828
    Latitude
    27.892999

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    FAQs

    What type of property is this?
    Office units - Brand new commercial space with customizable layout in booming Portland.
    Where is this office units located?
    The property is located at 205 Cedar Drive Portland, TX.
    What is the lease rate?
    The lease rate is $2,450 /Mo.
    What are key features of this property?
    This property features: Brand new interior construction offering layout flexibility.; Prime location near City Hall, Community Center, and Hwy. 181 amenities.; Metal frame construction and high ceilings.
    (512) 736-2695
    We can help!
    Listing Contact
    Brenton Reagan
    Brenton Reagan
    Real Estate License ID: 0669077
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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