Historic Flex Building with Cabinet
For Sale
$999,999
315 N Chadbourne Street, San Angelo, TX 76903
Commercial Sale, San Angelo, TX
Property Size10,000 SF
Lot Size0.22 Acres
Price / SF$102.56
Days on Market56
Property Features for 315 N Chadbourne Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Commercial
Parking features
On Street
Security features
Security System
Fencing
Fenced
Subdivision
KLECK S/D
Standard status
Active
APN
R000017392
Size
9,750 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
Acres: 0.223 Blk: 1 Subd: Kleck S/D N 65'Of Lot 8 To 10
Legal Description
Acres: 0.223 Blk: 1 Subd: Kleck S/D N 65'Of Lot 8 To 10
Utilities
Utilities
Natural Gas Available
Heating system
Central, Forced Air, Natural Gas
Cooling system
Electric, Central Air
Amenities
security system
Building Details
Year built
1957
Flooring type
Tile, Concrete, Wood
Building materials
Brick
Roof type
Membrane
Listing Agency:
Coldwell Banker Legacy · Coldwell Banker Real Estate
(325) 944-9559
Listed By:
Kane Harris · License #0691377
(979) 204-7067
Added: Jul 11
Changed: Aug 26
Last Checked: Sep 4 at 4:06AM
MLS# 201080
Copyright © 2026 San Angelo Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 9,750-square-foot brick flex property combines office areas, bathrooms, retail display windows, an efficiency apartment, and a functioning cabinet shop. The front section measures about 4,000 square feet and dates to around 1905, while the rear cabinet-shop addition encompasses almost 6,000 square feet and was built in 1957. Interior details include metal ceiling tiles above the front drop ceiling and a wood arched ceiling in the shop. The building also offers tile, concrete, and wood flooring, central heating and cooling, natural gas availability, a membrane roof, and on-street parking.
The property occupies 0.22 acres in downtown San Angelo’s TIRZ Investment District, with reported daily traffic counts ranging from 8,000 to 10,000. Access and security features include bay doors, a fenced area, a metal privacy gate at the Chadbourne entrance, and a security system. The building is next to Hartman Roofing.
The property occupies 0.22 acres in downtown San Angelo’s TIRZ Investment District, with reported daily traffic counts ranging from 8,000 to 10,000. Access and security features include bay doors, a fenced area, a metal privacy gate at the Chadbourne entrance, and a security system. The building is next to Hartman Roofing.
Key Highlights
- 9,750‑square‑foot flex building on 0.22 acres
- Front section of about 4,000 square feet dates to around 1905
- Rear cabinet‑shop addition of almost 6,000 square feet built in 1957
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
$69,586
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
6.96%
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%
$1,391,720
$1.4M
Cap Rate 7%
$994,086
$994.1K
Cap Rate 9%
$773,178
$773.2K
Market Conditions
NOI Build-Up for 9,750 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
$117.0K $12.00/SF
− Vacancy
−$9.9K −$1.02/SF
EGI
$107.1K $10.98/SF
− OpEx
−$37.5K −$3.84/SF
NOI
$69.6K $7.14/SF
Area
Tom Green County, TX
Vacancy
8.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,391,720
Cap Rate 7%
$994,086
Cap Rate 9%
$773,178
Alternative Uses
Best Use
Office B
$1.88M
$1.65M – $2.19M
NOI $131,625 @ 7.0% cap · market cap 13.16%
Second Best
Flex RnD
$994.1K
$869.8K – $1.16M
NOI $69,586 @ 7.0% cap · market cap 6.96%
Theoretical Best
Multifamily LT 5
$7.46M
$6.53M – $8.71M
NOI $522,456 @ 7.0% cap · market cap 52.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,924
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76903, TX
32,215
Population
14,169
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
78%
High-School Grad
25.0 sq mi
ZIP Area
1,289
Density / Sq Mi
$49,045
Median Household Income
$33,077
Median Earnings
$1,051
Median Rent
$115,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Julio's Burritos — 314 N Bryant Blvd, San Angelo, TX 76903
- BBQ Brothers — 1405 N Bryant Blvd, San Angelo, TX 76903
Frequently Asked Questions
What type of property is this?
Flex space - Brick commercial building combines office, retail display, and production areas with bay doors.
Where is this flex space located?
The property is located at 315 N Chadbourne Street San Angelo, TX.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 9,750‑square‑foot flex building on 0.22 acres; Front section of about 4,000 square feet dates to around 1905; Rear cabinet‑shop addition of almost 6,000 square feet built in 1957
