Freshly Painted Flex
For Sale
$395,000
400 Harvey Street, San Marcos, TX 78666
CommercialSale, San Marcos, TX
Property Size1,972 SF
Lot Size0.24 Acres
Price / SF$200.30
Days on Market172
Property Features for 400 Harvey Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CD-5D
Subdivision
D P Hopkins #1
Lot features
City Lot, Less Than Quarter Acre
Elementary school district
San Marcos Cisd
Middle school district
San Marcos Cisd
High school district
San Marcos Cisd
Directions
At the intersection of San Antonio Street and Harvey Street.
Standard status
Active
APN
R32192
Size
1,972 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
D P HOPKINS #1, BLOCK 2, LOT 3, ACRES 0.2391
Tax Annual Amount
5850
Legal Description
D P HOPKINS #1, BLOCK 2, LOT 3, ACRES 0.2391
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
1
Flooring type
Wood, Carpet
Building materials
VinylSiding
Listing Agency:
Jenny Frisbie, BROKER
Listed By:
Jenny Frisbie · License #0471567
(512) 757-3723
Added: Mar 31
Changed: Sep 17
Last Checked: Sep 18 at 8:06AM
MLS# 609068
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 1972-square-foot flex space at 400 Harvey Street features a freshly painted building with carpet and wood flooring. The property is identified as suitable for office, medical, dental, retail, restaurant/bar, and salon/spa uses, providing a broad range of potential commercial applications within a single building.
The 0.2391-acre property includes 11 dedicated on-site parking spaces. CD-5D zoning, public water, and public sewer are also associated with the site. The building’s vinyl siding and mix of carpet and wood flooring provide additional physical details for evaluating the existing improvements.
The 0.2391-acre property includes 11 dedicated on-site parking spaces. CD-5D zoning, public water, and public sewer are also associated with the site. The building’s vinyl siding and mix of carpet and wood flooring provide additional physical details for evaluating the existing improvements.
Key Highlights
- 1972 square feet of commercial building space
- 0.2391‑acre property at 400 Harvey Street
- 11 dedicated on‑site parking spaces
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
$35,780
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
9.06%
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%
$715,600
$715.6K
Cap Rate 7%
$511,143
$511.1K
Cap Rate 9%
$397,556
$397.6K
Market Conditions
NOI Build-Up for 1,972 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
$66.3K $33.60/SF
− Vacancy
−$6.6K −$3.36/SF
EGI
$59.6K $30.24/SF
− OpEx
−$23.9K −$12.10/SF
NOI
$35.8K $18.14/SF
Area
Hays County, TX
Vacancy
10.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
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%
$715,600
Cap Rate 7%
$511,143
Cap Rate 9%
$397,556
Alternative Uses
Best Use
Office B
$671.8K
$587.8K – $783.7K
NOI $47,023 @ 7.0% cap · market cap 11.90%
Second Best
Healthcare Medical
$511.1K
$447.3K – $596.3K
NOI $35,780 @ 7.0% cap · market cap 9.06%
Theoretical Best
Office A
$824.3K
$721.3K – $961.7K
NOI $57,704 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,735
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78666, TX
86,584
Population
36,354
Households
2.4
Avg Household Size
27
Median Age
35%
College-Educated
89%
High-School Grad
192.4 sq mi
ZIP Area
450
Density / Sq Mi
$55,478
Median Household Income
$25,890
Median Earnings
$1,294
Median Rent
$271,900
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 South region
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial space with dedicated parking supports office, medical, retail, restaurant, and salon uses.
Where is this flex space located?
The property is located at 400 Harvey Street San Marcos, TX.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1972 square feet of commercial building space; 0.2391‑acre property at 400 Harvey Street; 11 dedicated on‑site parking spaces
