Vacant Retail Building in San
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4411 E Evans Rd, San Antonio, TX 78259
Vacant retail building in high-growth area near TPC San Antonio.
Property Size11,300 SF
Price / SF$321
Days on Market218
Property Features for 4411 E Evans Rd
General Information
Standard status
Active
Size
11,300 SF
Class
A
Property subtype
Office, Retail
Investment Type
Owner/User
Building Details
Year Built
2024
Buildings
1
Listing Agency:
Foresite Commercial Real Estate
(210) 722-9096
Listed By:
Xavier Alvarado · License #TX 766038
Source:
Crexi
Added: Jan 27
Changed: Aug 31
Last Checked: Aug 31 at 1:19AM
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 Foresite Commercial Real Estate
Investment Insights
Based on property information with market context.
The property at 4411 E Evans Road is a vacant retail building situated in a rapidly growing, affluent area of San Antonio, near TPC San Antonio. The location benefits from its proximity to a newly constructed and fully leased retail center. The surrounding area has strong demographics, with average household incomes exceeding $140,000 within a three-mile radius and a residential base of over 47,000 residents. The property is positioned next to Fischer’s Convenience Corner and a soon-to-open Whataburger, benefiting from traffic generated by fuel, quick-service restaurants, and service-oriented businesses. The adjacent tenant mix provides co-tenancy benefits for future occupants. The 11,300 square foot building offers flexible configuration options and good visibility and access. It is suitable for medical, quick-service restaurant, specialty retail, or service users seeking a location in a high-growth submarket. This property offers the potential for value creation through lease-up in a high-demand retail area.
Key Highlights
- Located in a high‑income, fast‑growing area with average household incomes exceeding $140,000.
- Benefits from proven tenant demand and limited nearby retail supply.
- Positioned adjacent to a newly constructed, fully leased retail center, providing immediate co‑tenancy benefits.
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
$151,265
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
4.17%
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%
$3,025,300
$3.0M
Cap Rate 7%
$2,160,929
$2.2M
Cap Rate 9%
$1,680,722
$1.7M
Market Conditions
NOI Build-Up for 11,300 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
$225.1K $19.92/SF
− Vacancy
−$9.0K −$0.80/SF
EGI
$216.1K $19.12/SF
− OpEx
−$64.8K −$5.74/SF
NOI
$151.3K $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%
$3,025,300
Cap Rate 7%
$2,160,929
Cap Rate 9%
$1,680,722
Alternative Uses
Best Use
Retail
$2.16M
$1.89M – $2.52M
NOI $151,265 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,771 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 78259, TX
29,842
Population
11,087
Households
2.7
Avg Household Size
37
Median Age
51%
College-Educated
95%
High-School Grad
15.5 sq mi
ZIP Area
1,925
Density / Sq Mi
$109,429
Median Household Income
$60,923
Median Earnings
$1,554
Median Rent
$370,800
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 - Vacant retail building in high-growth area near TPC San Antonio.
Where is this retail space located?
The property is located at 4411 E Evans Rd San Antonio, TX.
What is the asking price?
The asking price for this property is $3,627,300.
What are key features of this property?
This property features: Located in a high‑income, fast‑growing area with average household incomes exceeding $140,000.; Benefits from proven tenant demand and limited nearby retail supply.; Positioned adjacent to a newly constructed, fully leased retail center, providing immediate co‑tenancy benefits.
