Flex Space Condominium with Oversized
For Sale
$380,000
4113-7231 Stonewall Bnd, San Antonio, TX 78256
Shell-condition commercial unit supports a ground-up interior build-out with high ceilings.
Property Size1,200 SF
Price / SF$316.67
Days on Market122
Property Features for 4113-7231 Stonewall Bnd
General Information
Standard status
Active
Size
1,200 SF
Taxes and HOA fees
Annual Taxes
$5,169
Amenities
clubhouse
upscale lounge areas
indoor/outdoor gathering spaces
kitchens
gated access
controlled entry
security
privacy
Listing Agency:
Phillips & Associates Realty
(210) 857-2375
Listed By:
Tom Phillips
(210) 857-2375
Source:
Exprealty
Added: May 2
Changed: Aug 30
Last Checked: Aug 30 at 7:31PM
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 Phillips & Associates Realty
Investment Insights
Based on property information with market context.
This 1,200-square-foot commercial condominium is delivered in shell condition, allowing the interior to be planned and finished around the owner’s requirements. The unit features high ceilings and oversized doors, with the ability to add climate control and mezzanine space as part of the build-out. Potential concepts identified for the space include a showroom, private garage, office, lounge, or customized retreat.
The unit is located within Dominion Motor Club near The Dominion in San Antonio. The gated community includes controlled entry, a clubhouse, upscale lounge areas, indoor and outdoor gathering spaces, kitchens, and event-oriented rooms. This setting combines a private commercial unit with shared community amenities and secured access.
The unit is located within Dominion Motor Club near The Dominion in San Antonio. The gated community includes controlled entry, a clubhouse, upscale lounge areas, indoor and outdoor gathering spaces, kitchens, and event-oriented rooms. This setting combines a private commercial unit with shared community amenities and secured access.
Key Highlights
- 1,200‑square‑foot commercial condominium
- Shell delivery supports a fully customized interior build‑out
- High ceilings and oversized doors
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
$16,063
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
4.23%
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%
$321,260
$321.3K
Cap Rate 7%
$229,471
$229.5K
Cap Rate 9%
$178,478
$178.5K
Market Conditions
NOI Build-Up for 1,200 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
$23.9K $19.92/SF
− Vacancy
−$956 −$0.80/SF
EGI
$22.9K $19.12/SF
− OpEx
−$6.9K −$5.74/SF
NOI
$16.1K $13.39/SF
Area
San Antonio, TX
Vacancy
4.00%
Lease Rate
$19.92 /SF/Yr
Expense Ratio
30.00%
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%
$321,260
Cap Rate 7%
$229,471
Cap Rate 9%
$178,478
Alternative Uses
Best Use
Retail
$229.5K
$200.8K – $267.7K
NOI $16,063 @ 7.0% cap · market cap 4.23%
Second Best
Industrial
$98.1K
$85.8K – $114.4K
NOI $6,864 @ 7.0% cap · market cap 1.81%
Theoretical Best
Office A
$306.1K
$267.8K – $357.1K
NOI $21,427 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78256, TX
13,643
Population
6,592
Households
2.1
Avg Household Size
30
Median Age
59%
College-Educated
94%
High-School Grad
8.0 sq mi
ZIP Area
1,705
Density / Sq Mi
$72,797
Median Household Income
$52,110
Median Earnings
$1,545
Median Rent
$494,400
Median Home Value
Market
Vacancy Rate% for Industrial in San Antonio, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Shell-condition commercial unit supports a ground-up interior build-out with high ceilings.
Where is this flex space located?
The property is located at 4113-7231 Stonewall Bnd San Antonio, TX.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 1,200‑square‑foot commercial condominium; Shell delivery supports a fully customized interior build‑out; High ceilings and oversized doors
