Building Details

Year Built 2014

Buildings 2

Listing Agency: Cravey Real Estate Services Inc j***@craveyrealestate.com Show Phone

Listed By: John Foret · License #TX 748161

Source: Crexi

Added: May 11, 2021 Changed: Aug 8 Last Checked: Aug 30 at 9:40PM

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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 Cravey Real Estate Services Inc

Investment Insights

Based on property information with market context.

This property features a 3,600 square foot warehouse (60' x 60') with a 16' x 12' overhead door and a 20' clear height, alongside move-in ready living quarters. The property has 1,877.70' of road frontage and includes a water well and a covered wash rack measuring 20' x 60'. The location provides excellent access to IH 37. This setup is suitable for entrepreneurs, investors, or those seeking a flexible live/work space. The expansive warehouse offers ample space for storage, manufacturing, or distribution, adaptable to a wide range of commercial uses. The comfortable living quarters are perfect for on-site management, staff housing, or personal use. This property offers potential for expanding a business, starting a new venture, or creating a unique live/work setup.

Key Highlights

• 3,600 sq/ft warehouse featuring a 16' x 12' OHD and 20' clear height, ideal for various commercial applications.
• Benefit from 1,877.70' of road frontage, offering excellent visibility and access.
• Move‑in ready living quarters are available, perfect for on‑site management or as a personal residence.

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

$46,574

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

3.96%

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%

$931,480 $931.5K

Cap Rate 7%

$665,343 $665.3K

Cap Rate 9%

$517,489 $517.5K

Market Conditions

NOI Build-Up for 3,600 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

$85.5K $23.76/SF

− Vacancy

−$23.4K −$6.51/SF

EGI

$62.1K $17.25/SF

− OpEx

−$15.5K −$4.31/SF

NOI

$46.6K $12.94/SF

Area

San Patricio County, TX

Vacancy

27.40%

Lease Rate

$23.76 /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%

$931,480

Cap Rate 7%

$665,343

Cap Rate 9%

$517,489

Alternative Uses

Best Use

Office B

$665.3K

$582.2K – $776.2K (±1% cap)

NOI $46,574 @ 7.0% cap · market cap 3.96%

Second Best

Mixed Use

$520.7K

$455.6K – $607.5K (±1% cap)

NOI $36,450 @ 7.0% cap · market cap 3.10%

Theoretical Best

Hotel Hospitality

$1.85M

$1.62M – $2.15M (±1% cap)

NOI $129,276 @ 7.0% cap · market cap 11.00%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Live-work space

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 78370, TX

4,746

Population

1,790

Households

2.7

Avg Household Size

41

Median Age

13%

College-Educated

82%

High-School Grad

110.1 sq mi

ZIP Area

43

Density / Sq Mi

$69,327

Median Household Income

$37,924

Median Earnings

$1,132

Median Rent

$190,800

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Spacious warehouse with comfortable living quarters and IH 37 access.

Where is this mixed-use property located?

The property is located at 4908 IH 37 Edroy, TX.

What is the asking price?

The asking price for this property is $1,175,000.

What are key features of this property?

This property features: 3,600 sq/ft warehouse featuring a 16' x 12' OHD and 20' clear height, ideal for various commercial applications.; Benefit from 1,877.70' of road frontage, offering excellent visibility and access.; Move‑in ready living quarters are available, perfect for on‑site management or as a personal residence.