Retail Flex Building with
For Sale
$950,000
3208 Houston Highway, Victoria, TX 77901
SINGLE_FAMILY - Victoria, TX
Property Size10,000 SF
Lot Size0.92 Acres
Price / SF$95
Days on Market576
Property Features for 3208 Houston Highway
General Information
Property type
Residential
Property subtype
Retail
Parking features
Garage, Special Needs
Security features
Security
Exterior features
Storage
Subdivision
Jordan Motor Co Sub 2 Resu
Lot features
One To Three Acres, City Lot
Directions
Driving south on Sam Houston Dr take a right on Houston Hwy look for Uncle Mikes Building, which is the 4th building on the right side from the new Starbucks. If traveling north on business Hwy 59 from downtown passing the Citizens Hospital, University of Houston Jaquar Dorms take a left turn around at corner of Houston Hwy and Sam Houston Dr and Del Mar Dr building is on the right side
Standard status
Active
APN
93228
Size
10,000 SF
Lot size
0.92 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
JORDAN MOTOR CO SUBD NO 2 RESUBD NO 1, BLOCK 1, LOT 2, ACRES .92
Tax Annual Amount
14846
Legal Description
JORDAN MOTOR CO SUBD NO 2 RESUBD NO 1, BLOCK 1, LOT 2, ACRES .92
Utilities
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Flooring type
Vinyl, Tile
Building materials
Block, Concrete
Additional Structures
Storage
Listing Agency:
CrossRoads Realty
(361) 218-8601
Listed By:
Robert D Rivera · License #0243200
(361) 573-4609
Added: Jan 13, 2025
Changed: Aug 3
Last Checked: Aug 12 at 12:06PM
MLS# 567425
Copyright © 2026 Central Texas Multiple Listing Service. 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 retail flex building is approximately 10,000 square feet, with an attached warehouse of approximately 2,000 square feet. The property is currently used as a retail rent-to-own business and smoke shop, and includes 4–6 offices and 3 bathrooms. The back portion of the property features a 3-bay metal shop, a metal building for scaffold storage, and a metal 4-car garage.
Front access is available from Houston Highway, with rear access from Red River St. The building is positioned on a busy thoroughfare (US Business 59), and the surrounding area includes shopping, fast food, hospitals, and medical/offices. The property is also described as being about blocks from The University of Houston and its dormitories.
The site is listed at approximately 0.92 acres and is configured to support retail storefront use alongside warehouse and back-of-house service space.
Front access is available from Houston Highway, with rear access from Red River St. The building is positioned on a busy thoroughfare (US Business 59), and the surrounding area includes shopping, fast food, hospitals, and medical/offices. The property is also described as being about blocks from The University of Houston and its dormitories.
The site is listed at approximately 0.92 acres and is configured to support retail storefront use alongside warehouse and back-of-house service space.
Key Highlights
- Approx. 10,000 SF commercial building on 1.602 acres with attached warehouse approx. 2,000 SF
- Front access from Houston Hwy (US Business 59) and rear access from Red River St
- Includes 4–6 offices and 3 bathrooms; currently used as a retail rent‑to‑own business and smoke shop
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
$70,200
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
7.39%
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%
$1,404,000
$1.4M
Cap Rate 7%
$1,002,857
$1.0M
Cap Rate 9%
$780,000
$780.0K
Market Conditions
NOI Build-Up for 10,000 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
$120.0K $12.00/SF
− Vacancy
−$12.0K −$1.20/SF
EGI
$108.0K $10.80/SF
− OpEx
−$37.8K −$3.78/SF
NOI
$70.2K $7.02/SF
Area
Victoria County, TX
Vacancy
10.00%
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%
$1,404,000
Cap Rate 7%
$1,002,857
Cap Rate 9%
$780,000
Alternative Uses
Best Use
Retail
$2.06M
$1.81M – $2.41M
NOI $144,497 @ 7.0% cap · market cap 15.21%
Second Best
Flex RnD
$1.00M
$877.5K – $1.17M
NOI $70,200 @ 7.0% cap · market cap 7.39%
Theoretical Best
Multifamily LT 5
$109.86M
$96.13M – $128.17M
NOI $7,690,232 @ 7.0% cap · market cap 809.50%
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
156
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Freestanding retail flex building with attached warehouse, multiple offices, and rear shop/garage facilities.
Where is this flex space located?
The property is located at 3208 Houston Highway Victoria, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Approx. 10,000 SF commercial building on 1.602 acres with attached warehouse approx. 2,000 SF; Front access from Houston Hwy (US Business 59) and rear access from Red River St; Includes 4–6 offices and 3 bathrooms; currently used as a retail rent‑to‑own business and smoke shop
