Single-Story Medical Office
For Sale
Contact for pricing
2620 McCullough Avenue, San Antonio, TX 78212
Existing dermatopathology configuration with gated parking and direct access from McCullough Avenue.
Property Size2,844 SF
Lot Size0.27 Acres
Price / SF$281.29
Days on Market9
Property Features for 2620 McCullough Avenue
General Information
Standard status
Active
Size
2,844 SF
Lot size
0.27 Acres
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Stories
1
Building Size
2,844 SF
Listing Agency:
Oldham Goodwin Group
Listed By:
Steve Monroe · License #561910
(210) 426-1800
Source:
Crexi
Added: Aug 28
Changed: Sep 4
Last Checked: Sep 4 at 2:28PM
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 Oldham Goodwin Group
Investment Insights
Based on property information with market context.
This 2,844-square-foot medical office building occupies approximately 0.27 acres and is arranged on a single level. The current layout supports dermatopathology services, offering an established clinical setting for continued medical use. Gated surface parking, street-level access, and frontage along McCullough Avenue are part of the property’s physical profile.
The building sits at the intersection of McCullough Avenue and East Magnolia Avenue, near the Monte Vista Historical District in San Antonio’s Midtown area. Regional connectivity includes US Highway 281, Interstate 35, and Interstate 10, while the property is positioned between Downtown San Antonio and established residential areas. Its compact scale and existing medical configuration support consideration by an owner-user, professional practice, or investor.
The building sits at the intersection of McCullough Avenue and East Magnolia Avenue, near the Monte Vista Historical District in San Antonio’s Midtown area. Regional connectivity includes US Highway 281, Interstate 35, and Interstate 10, while the property is positioned between Downtown San Antonio and established residential areas. Its compact scale and existing medical configuration support consideration by an owner-user, professional practice, or investor.
Key Highlights
- 2,844‑square‑foot single‑story medical office building
- Approximately 0.27 acres at McCullough Avenue and East Magnolia Avenue
- Currently configured for dermatopathology services
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
$38,761
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
4.85%
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%
$775,220
$775.2K
Cap Rate 7%
$553,729
$553.7K
Cap Rate 9%
$430,678
$430.7K
Market Conditions
NOI Build-Up for 2,844 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
$62.8K $22.08/SF
− Vacancy
−$11.1K −$3.91/SF
EGI
$51.7K $18.17/SF
− OpEx
−$12.9K −$4.54/SF
NOI
$38.8K $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%
$775,220
Cap Rate 7%
$553,729
Cap Rate 9%
$430,678
Alternative Uses
Best Use
Office B
$553.7K
$484.5K – $646.0K
NOI $38,761 @ 7.0% cap · market cap 4.85%
Second Best
Healthcare Medical
$468.6K
$410.1K – $546.7K
NOI $32,804 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$725.5K
$634.8K – $846.4K
NOI $50,782 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,307
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78212, TX
26,738
Population
13,399
Households
2
Avg Household Size
39
Median Age
39%
College-Educated
85%
High-School Grad
6.9 sq mi
ZIP Area
3,875
Density / Sq Mi
$60,222
Median Household Income
$40,037
Median Earnings
$1,084
Median Rent
$299,400
Median Home Value
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?
Medical Office Space - Existing dermatopathology configuration with gated parking and direct access from McCullough Avenue.
Where is this medical office space located?
The property is located at 2620 McCullough Avenue San Antonio, TX.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 2,844‑square‑foot single‑story medical office building; Approximately 0.27 acres at McCullough Avenue and East Magnolia Avenue; Currently configured for dermatopathology services
