Top-Floor Office Condo
For Sale
Contact for pricing
2632 Broadway St, San Antonio, TX 78215
Top-floor office condo in a gated, professionally managed property with quick access to major highways IH-35 and Hwy 281.
Property Size3,074 SF
Price / SF$350
Days on Market401
Property Features for 2632 Broadway St
General Information
Standard status
Active
Size
3,074 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
Top Floor
Asking Price
$1,075,900
Amenities
gated courtyard
Building Details
Year Built
2006
Parking Ratio
2.98 per 1,000 SF
Listing Agency:
Endura Advisory Group
(210) 366-2222
Listed By:
David Held · License #319600
(210) 918-6401
Source:
Moodyscre
Added: Aug 19, 2025
Changed: Sep 9
Last Checked: Sep 22 at 9:18PM
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 Endura Advisory Group
Investment Insights
Based on property information with market context.
Condo Unit 401 is a top-floor office unit totaling 3,074 SF, built in 2006. The unit is positioned for views of Brackenridge Park and the golf course, and it is located within a gated courtyard at a professionally managed property.
The building is on Broadway just north of Pearl Brewery, offering convenient access to major highways IH-35 and Hwy 281. Parking is provided at a ratio of 2.98 per 1,000 SF.
For office users seeking a managed, gated setting with an upper-level vantage, Unit 401 provides an office condo configuration with the practical benefit of straightforward highway access.
The building is on Broadway just north of Pearl Brewery, offering convenient access to major highways IH-35 and Hwy 281. Parking is provided at a ratio of 2.98 per 1,000 SF.
For office users seeking a managed, gated setting with an upper-level vantage, Unit 401 provides an office condo configuration with the practical benefit of straightforward highway access.
Key Highlights
- Condo Unit 401 is a top‑floor office unit with 3,074 SF
- Views of Brackenridge Park and the golf course from the top floor
- Year built: 2006
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
$41,895
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
3.89%
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%
$837,900
$837.9K
Cap Rate 7%
$598,500
$598.5K
Cap Rate 9%
$465,500
$465.5K
Market Conditions
NOI Build-Up for 3,074 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
$67.9K $22.08/SF
− Vacancy
−$12.0K −$3.91/SF
EGI
$55.9K $18.17/SF
− OpEx
−$14.0K −$4.54/SF
NOI
$41.9K $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%
$837,900
Cap Rate 7%
$598,500
Cap Rate 9%
$465,500
Alternative Uses
Best Use
Office B
$598.5K
$523.7K – $698.3K
NOI $41,895 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$784.1K
$686.1K – $914.8K
NOI $54,889 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,254
Businesses Nearby
Explore this area
Business Placement
Demographics for 78215, TX
3,644
Population
3,029
Households
1.2
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.1 sq mi
ZIP Area
3,313
Density / Sq Mi
$82,128
Median Household Income
$75,532
Median Earnings
$1,754
Median Rent
$486,100
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 Office in San Antonio, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Top-floor office condo in a gated, professionally managed property with quick access to major highways IH-35 and Hwy 281.
Where is this office units located?
The property is located at 2632 Broadway St San Antonio, TX.
What is the asking price?
The asking price for this property is $1,075,900.
What are key features of this property?
This property features: Condo Unit 401 is a top‑floor office unit with 3,074 SF; Views of Brackenridge Park and the golf course from the top floor; Year built: 2006
