Mixed-Use Property with
New
For Sale
$450,000
429 Wharton St, San Antonio, TX 78210
Four residential units are complemented by a distinct office space on a commercially zoned site.
Property Size3,689 SF
Lot Size0.19 Acres
Price / SF$121.98
Days on Market3
Property Features for 429 Wharton St
General Information
Standard status
Active
Size
3,689 SF
Lot size
0.19 Acres
Property subtype
Multi-Family
Zoning
C-2
Additional Details
Multifamily Units
4
Building Details
Year Built
1922
Listing Agency:
Real Broker, LLC
Listed By:
Jesse Perez · License #0811078
(214) 202-7615
Source:
Mlsluxurygroup
Added: Sep 24
Last Checked: Sep 26 at 11:35AM
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.
The 3,689-square-foot property contains four residential units and a separate office. It sits on an approximately 0.19-acre lot and was built in 1922. The site is zoned C-2 General Commercial.
At 429 Wharton St, the property is across from Riverside Golf Course. Roosevelt Avenue, the San Antonio River, Mission Reach hike trails, Mission Concepcion, Southtown dining, and shopping and entertainment are nearby.
At 429 Wharton St, the property is across from Riverside Golf Course. Roosevelt Avenue, the San Antonio River, Mission Reach hike trails, Mission Concepcion, Southtown dining, and shopping and entertainment are nearby.
Key Highlights
- Four residential units plus a separate office space
- 3,689 square feet on an approximately 0.19‑acre lot
- C‑2 General Commercial zoning
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
$37,682
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
8.37%
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%
$753,640
$753.6K
Cap Rate 7%
$538,314
$538.3K
Cap Rate 9%
$418,689
$418.7K
Market Conditions
NOI Build-Up for 3,689 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
$73.0K $19.80/SF
− Vacancy
−$4.5K −$1.23/SF
EGI
$68.5K $18.57/SF
− OpEx
−$30.8K −$8.36/SF
NOI
$37.7K $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%
$753,640
Cap Rate 7%
$538,314
Cap Rate 9%
$418,689
Alternative Uses
Best Use
Mixed Use
$675.9K
$591.4K – $788.5K
NOI $47,311 @ 7.0% cap · market cap 10.51%
Second Best
Multifamily LT 5
$606.6K
$530.8K – $707.7K
NOI $42,461 @ 7.0% cap · market cap 9.44%
Theoretical Best
Office A
$941.0K
$823.4K – $1.10M
NOI $65,870 @ 7.0% cap · market cap 14.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 78210, TX
33,010
Population
14,410
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
76%
High-School Grad
7.3 sq mi
ZIP Area
4,522
Density / Sq Mi
$51,990
Median Household Income
$33,271
Median Earnings
$1,119
Median Rent
$172,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four residential units are complemented by a distinct office space on a commercially zoned site.
Where is this mixed-use property located?
The property is located at 429 Wharton St 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: Four residential units plus a separate office space; 3,689 square feet on an approximately 0.19‑acre lot; C‑2 General Commercial zoning
