Shell Retail Building with
For Sale
$450,000
425 S Loop 1604 West Lot 1, San Antonio, TX 78264
Retail shell building with recently replaced roof and exterior walls, plus a new LED sign for visibility on Loop 1604.
Property Size1,680 SF
Lot Size0.83 Acres
Price / SF$267.86
Days on Market429
Property Features for 425 S Loop 1604 West Lot 1
General Information
Standard status
Active
Size
1,680 SF
Lot size
0.83 Acres
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Amenities
3
OCL
Building Details
Year Built
1960
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Susan Monnin
(888) 519-7431
Source:
Xome
Added: Jul 4, 2025
Changed: Sep 1
Last Checked: Sep 4 at 4:14AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This property includes an approximately 1,680 SF shell building designed for tenant or buyer-specific interior completion. The roof and exterior walls have been recently replaced, creating a maintained exterior base for future build-out. The site also includes an LED sign that is new and still in the box, along with an on-site 40-foot storage container that will convey with the sale.
The property is situated on level land of approximately 0.83 acres and is positioned for visibility and traffic exposure along Loop 1604. Utilities are available with an option to connect to city services, and the site includes an existing well and septic system.
Originally planned as an event venue, the site can support indoor and outdoor event concepts, as well as retail, bar/lounge, office, or owner-user uses, depending on the buyer’s plans.
The property is situated on level land of approximately 0.83 acres and is positioned for visibility and traffic exposure along Loop 1604. Utilities are available with an option to connect to city services, and the site includes an existing well and septic system.
Originally planned as an event venue, the site can support indoor and outdoor event concepts, as well as retail, bar/lounge, office, or owner-user uses, depending on the buyer’s plans.
Key Highlights
- 1,680 SF shell building at 425 S Loop W 1604 (San Antonio, TX 78264) for buyer‑led interior build‑out
- Recently replaced roof and exterior walls to help reduce near‑term exterior capital expenses
- 0.83 acres of level land zoned OCL with flexibility for a variety of commercial uses
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
$22,489
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
5.00%
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%
$449,780
$449.8K
Cap Rate 7%
$321,271
$321.3K
Cap Rate 9%
$249,878
$249.9K
Market Conditions
NOI Build-Up for 1,680 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
$33.5K $19.92/SF
− Vacancy
−$1.3K −$0.80/SF
EGI
$32.1K $19.12/SF
− OpEx
−$9.6K −$5.74/SF
NOI
$22.5K $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%
$449,780
Cap Rate 7%
$321,271
Cap Rate 9%
$249,878
Alternative Uses
Best Use
Retail
$321.3K
$281.1K – $374.8K
NOI $22,489 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$428.5K
$375.0K – $500.0K
NOI $29,998 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 78264, TX
14,705
Population
4,465
Households
3.3
Avg Household Size
35
Median Age
13%
College-Educated
76%
High-School Grad
70.7 sq mi
ZIP Area
208
Density / Sq Mi
$60,245
Median Household Income
$32,732
Median Earnings
$1,381
Median Rent
$134,300
Median Home Value
Market
Vacancy Rate% for Retail in San Antonio, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail shell building with recently replaced roof and exterior walls, plus a new LED sign for visibility on Loop 1604.
Where is this retail space located?
The property is located at 425 S Loop 1604 West Lot 1 San Antonio, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,680 SF shell building at 425 S Loop W 1604 (San Antonio, TX 78264) for buyer‑led interior build‑out; Recently replaced roof and exterior walls to help reduce near‑term exterior capital expenses; 0.83 acres of level land zoned OCL with flexibility for a variety of commercial uses
