Renovated Mixed-Use
For Sale
$1,250,000
3-114 N Main St, Victoria, TX 77901
Includes professional offices, street-level retail, and an upstairs area prepared for custom build-out.
Property Size15,724 SF
Price / SF$79.50
Days on Market14
Property Features for 3-114 N Main St
General Information
Standard status
Active
Size
15,724 SF
Building Details
Buildings
1
Listing Agency:
The Ron Brown Company
(361) 433-5747
Listed By:
Kelsey Hughes · License #0807326
(361) 433-5747
Source:
Exprealty
Added: Aug 3
Changed: Aug 16
Last Checked: Aug 16 at 12:20PM
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 The Ron Brown Company
Investment Insights
Based on property information with market context.
This 15,724-square-foot mixed-use building brings together several distinct commercial areas within a downtown Victoria property. The space at 114 N Main includes approximately 2,600 square feet of renovated professional office space arranged as 7 private offices. At 110 N Main, approximately 5,000 square feet of street-level retail space features exposed ducts and recent renovations. The upstairs area at 112 N Main has an open layout, new flooring, and a clean interior ready for custom build-out.
The property is positioned directly on the downtown square at 3-114 N Main St, placing multiple commercial spaces within a central Victoria setting. A new TPO roof was installed in 2024, adding a recent building improvement to the existing office, retail, and upstairs configurations.
The property is positioned directly on the downtown square at 3-114 N Main St, placing multiple commercial spaces within a central Victoria setting. A new TPO roof was installed in 2024, adding a recent building improvement to the existing office, retail, and upstairs configurations.
Key Highlights
- 15,724‑square‑foot mixed‑use property at 3‑114 N Main St, Victoria, TX
- 114 N Main includes approximately 2, 600 square feet of renovated office space
- Office area is configured into 7 private offices
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
$106,892
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
8.55%
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%
$2,137,840
$2.1M
Cap Rate 7%
$1,527,029
$1.5M
Cap Rate 9%
$1,187,689
$1.2M
Market Conditions
NOI Build-Up for 15,724 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
$194.3K $12.36/SF
− Vacancy
−$23.3K −$1.48/SF
EGI
$171.0K $10.88/SF
− OpEx
−$64.1K −$4.08/SF
NOI
$106.9K $6.80/SF
Area
Victoria County, TX
Vacancy
12.00%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
37.50%
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%
$2,137,840
Cap Rate 7%
$1,527,029
Cap Rate 9%
$1,187,689
Alternative Uses
Best Use
Office B
$3.76M
$3.29M – $4.38M
NOI $263,016 @ 7.0% cap · market cap 21.04%
Second Best
Retail
$3.25M
$2.84M – $3.79M
NOI $227,207 @ 7.0% cap · market cap 18.18%
Theoretical Best
Multifamily LT 5
$172.74M
$151.15M – $201.54M
NOI $12,092,121 @ 7.0% cap · market cap 967.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,075
Businesses Nearby
Explore this area
Business Placement
Demographics for 77901, TX
40,062
Population
17,438
Households
2.3
Avg Household Size
35
Median Age
15%
College-Educated
76%
High-School Grad
18.1 sq mi
ZIP Area
2,213
Density / Sq Mi
$57,728
Median Household Income
$33,127
Median Earnings
$1,105
Median Rent
$133,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes professional offices, street-level retail, and an upstairs area prepared for custom build-out.
Where is this mixed-use property located?
The property is located at 3-114 N Main St Victoria, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 15,724‑square‑foot mixed‑use property at 3‑114 N Main St, Victoria, TX; 114 N Main includes approximately 2, 600 square feet of renovated office space; Office area is configured into 7 private offices
