Multifamily Property Near Southwest Military
New
For Sale
$290,000
227 Shrine, San Antonio, TX 78221
Established multifamily asset with access to shopping, dining, schools, and major roadways.
Property Size1,781 SF
Price / SF$162.83
Days on Market4
Property Features for 227 Shrine
General Information
Standard status
Active
Size
1,781 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Building Details
Year Built
1950
Listing Agency:
Real Broker, LLC
Listed By:
Alicia Galindo
(210) 861-6456
Source:
Theswinneygroup
Added: Sep 20
Last Checked: Sep 22 at 9:36PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This multifamily property contains 1,781 square feet and was built in 1950. The asset offers a foundation for a buyer seeking a residential income property with room to personalize the improvements.
The property is positioned on San Antonio’s South Side, near shopping, dining, schools, and major roadways. Southwest Military Drive is also accessible from the property, connecting it with nearby everyday services and surrounding commercial activity.
The property is positioned on San Antonio’s South Side, near shopping, dining, schools, and major roadways. Southwest Military Drive is also accessible from the property, connecting it with nearby everyday services and surrounding commercial activity.
Key Highlights
- 1,781‑square‑foot multifamily property
- Built in 1950
- Located on San Antonio’s South Side
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
$18,193
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
6.27%
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%
$363,860
$363.9K
Cap Rate 7%
$259,900
$259.9K
Cap Rate 9%
$202,144
$202.1K
Market Conditions
NOI Build-Up for 1,781 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
$35.3K $19.80/SF
− Vacancy
−$2.2K −$1.23/SF
EGI
$33.1K $18.57/SF
− OpEx
−$14.9K −$8.36/SF
NOI
$18.2K $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%
$363,860
Cap Rate 7%
$259,900
Cap Rate 9%
$202,144
Alternative Uses
Best Use
Apartment 5plus
$259.9K
$227.4K – $303.2K
NOI $18,193 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$454.3K
$397.5K – $530.0K
NOI $31,801 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
921
Businesses Nearby
Explore this area
Business Placement
Demographics for 78221, TX
39,779
Population
14,939
Households
2.7
Avg Household Size
35
Median Age
12%
College-Educated
74%
High-School Grad
36.3 sq mi
ZIP Area
1,096
Density / Sq Mi
$63,114
Median Household Income
$33,439
Median Earnings
$1,147
Median Rent
$157,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Established multifamily asset with access to shopping, dining, schools, and major roadways.
Where is this multifamily property located?
The property is located at 227 Shrine San Antonio, TX.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 1,781‑square‑foot multifamily property; Built in 1950; Located on San Antonio’s South Side
