Single-Tenant Office
For Sale
Contact for pricing
420 Baltimore Ave, San Antonio, TX 78215
Single-tenant office building offering 4,990 RSF of space for an end user.
Property Size4,990 SF
Price / SF$270.54
Days on Market64
Property Features for 420 Baltimore Ave
General Information
Standard status
Active
Size
4,990 SF
Net Rentable
4,990 SF
Property subtype
OFFICE
Building Details
Building Size
4,990 SF
Tenancy
Single
Listing Agency:
CBRE | San Antonio
(210) 225-1000
Listed By:
Andrew Price · License #541133
(210) 602-9468
Source:
Moodyscre
Added: Jul 17
Changed: Sep 6
Last Checked: Sep 18 at 11:17AM
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 CBRE | San Antonio
Investment Insights
Based on property information with market context.
Single-tenant office building configured as a dedicated 4,990 RSF facility. The property is presented as a great single tenant option, supporting an office user looking for a stand-alone footprint.
The offering is located at 420 Baltimore Ave in San Antonio, TX 78215.
The offering is located at 420 Baltimore Ave in San Antonio, TX 78215.
Key Highlights
- Single tenant office building
- 4,990 RSF office space
- Dedicated, dedicated end‑user configuration
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
$68,008
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
5.04%
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%
$1,360,160
$1.4M
Cap Rate 7%
$971,543
$971.5K
Cap Rate 9%
$755,644
$755.6K
Market Conditions
NOI Build-Up for 4,990 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
$110.2K $22.08/SF
− Vacancy
−$19.5K −$3.91/SF
EGI
$90.7K $18.17/SF
− OpEx
−$22.7K −$4.54/SF
NOI
$68.0K $13.63/SF
Area
San Antonio, TX
Vacancy
17.70%
Lease Rate
$22.08 /SF/Yr
Expense Ratio
25.00%
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%
$1,360,160
Cap Rate 7%
$971,543
Cap Rate 9%
$755,644
Alternative Uses
Best Use
Office B
$971.5K
$850.1K – $1.13M
NOI $68,008 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,100 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,080
Businesses Nearby
Explore this area
Business Placement
Demographics for 78215, TX
3,644
Population
3,029
Households
1.2
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.1 sq mi
ZIP Area
3,313
Density / Sq Mi
$82,128
Median Household Income
$75,532
Median Earnings
$1,754
Median Rent
$486,100
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 San Antonio, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-tenant office building offering 4,990 RSF of space for an end user.
Where is this office building located?
The property is located at 420 Baltimore Ave San Antonio, TX.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Single tenant office building; 4,990 RSF office space; Dedicated, dedicated end‑user configuration
