Assisted Living Facility with
For Sale
$900,000
4154 SWANS LANDING SAN ANTONIO TX 78217, San Antonio, TX 78217
Former office building converted to licensed assisted living with 16-person capacity and wheelchair-accessible showers.
Property Size6,010 SF
Price / SF$149.75
Days on Market224
Property Features for 4154 SWANS LANDING SAN ANTONIO TX 78217
General Information
Standard status
Active
Size
6,010 SF
Property subtype
Medical/Dental
Zoning
C-2 COMMERCIAL
Additional Details
Sprinkler System
Yes
Building Details
Building Size
6,010 SF
Year Built
1983
Year Renovated
2018
Listing Agency:
Eric J. Duxstad, Broker
(210) 218-7914
Listed By:
Eric Duxstad · License ##402911
Source:
Kwsanantonio
Added: Jan 12
Changed: Aug 23
Last Checked: Aug 24 at 3:09AM
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 Eric J. Duxstad, Broker
Investment Insights
Based on property information with market context.
The property is a former office building that was converted to an assisted living facility in 2018, with a front addition completed the same year. Through 8/2025 it was licensed as a Type B facility for up to 16 people. The building is equipped with a fire sprinkler system, fire alarm system, security system, electronic exterior door locks, and security cameras.
Interior accommodations include 12 bedrooms, two restrooms, and two full bathrooms featuring wheelchair showers. In addition to private rooms, the facility offers a hairdressing room, a kitchen, a large community and dining area, and several smaller community areas throughout.
A large wood deck is attached to the back of the facility. While operated as assisted living, the current layout is also stated to be suitable for office use, providing flexibility for buyers looking to repurpose the space. The property sits just east of the new Perrin House City Park and is located in the San Antonio TIF #33 Northeast Corridor.
Interior accommodations include 12 bedrooms, two restrooms, and two full bathrooms featuring wheelchair showers. In addition to private rooms, the facility offers a hairdressing room, a kitchen, a large community and dining area, and several smaller community areas throughout.
A large wood deck is attached to the back of the facility. While operated as assisted living, the current layout is also stated to be suitable for office use, providing flexibility for buyers looking to repurpose the space. The property sits just east of the new Perrin House City Park and is located in the San Antonio TIF #33 Northeast Corridor.
Key Highlights
- Converted former office building, converted to an assisted living facility in 2018
- Licensed Type B facility with capacity for 16 people (licensed up to 8/2025)
- 12 bedrooms with 2 full bathrooms featuring wheelchair showers plus 2 restrooms
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
$61,391
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
6.82%
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%
$1,227,820
$1.2M
Cap Rate 7%
$877,014
$877.0K
Cap Rate 9%
$682,122
$682.1K
Market Conditions
NOI Build-Up for 6,010 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
$119.0K $19.80/SF
− Vacancy
−$7.4K −$1.23/SF
EGI
$111.6K $18.57/SF
− OpEx
−$50.2K −$8.36/SF
NOI
$61.4K $10.21/SF
Area
San Antonio, TX
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,227,820
Cap Rate 7%
$877,014
Cap Rate 9%
$682,122
Alternative Uses
Best Use
Apartment 5plus
$877.0K
$767.4K – $1.02M
NOI $61,391 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,313 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
759
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78217, TX
33,562
Population
16,179
Households
2.1
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
10.1 sq mi
ZIP Area
3,323
Density / Sq Mi
$56,852
Median Household Income
$33,931
Median Earnings
$1,186
Median Rent
$216,100
Median Home Value
Questions? Ask Rey
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Similar Off Market Nearby
- Swans Landing Assisted Living — 4154 Swans Landing, San Antonio, TX 78217
- Afton Calle Assisted Living LLC — 8800 Village Dr #209, San Antonio, TX 78217
Frequently Asked Questions
What type of property is this?
Assisted living facility - Former office building converted to licensed assisted living with 16-person capacity and wheelchair-accessible showers.
Where is this assisted living facility located?
The property is located at 4154 SWANS LANDING SAN ANTONIO TX 78217 San Antonio, TX.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Converted former office building, converted to an assisted living facility in 2018; Licensed Type B facility with capacity for 16 people (licensed up to 8/2025); 12 bedrooms with 2 full bathrooms featuring wheelchair showers plus 2 restrooms
