32-Unit Apartment
For Sale
$5,400,000
502 Shiloh Drive, Laredo, TX 78045
Four-story multifamily property built in 2015 with an elevator, pool, gated security, and balconies.
Property Size31,128 SF
Days on Market948
Property Features for 502 Shiloh Drive
General Information
Standard status
Active
Size
31,128 SF
Elevators
Yes
Property subtype
MF
Additional Details
Multifamily Units
32
Amenities
pool
security gate
balconies
Building Details
Building Size
31,128 SF
Year Built
2015
Stories
4
Units
32
Listing Agency:
Keller Williams Laredo
(956) 236-8598
Listed By:
James Villarreal · License #0706638
(956) 236-8598
Source:
Realnex
Added: Jan 27, 2024
Changed: Aug 30
Last Checked: Aug 31 at 12:33PM
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 Keller Williams Laredo
Investment Insights
Based on property information with market context.
Ciros Tower is a 32-unit apartment property at 502 Shiloh Drive in Laredo, Texas. The four-story complex was built in 2015 and includes an elevator, a swimming pool, controlled access through a security gate, and balconies serving the apartments.
The property is situated in North Laredo, providing a defined multifamily asset within an established area of the city. Its unit count, vertical four-story design, and shared amenities create a substantial apartment-building configuration at a single address.
The property is situated in North Laredo, providing a defined multifamily asset within an established area of the city. Its unit count, vertical four-story design, and shared amenities create a substantial apartment-building configuration at a single address.
Key Highlights
- 32‑unit apartment building
- Four‑story multifamily complex
- Built in 2015
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
$245,087
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
4.54%
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%
$4,901,740
$4.9M
Cap Rate 7%
$3,501,243
$3.5M
Cap Rate 9%
$2,723,189
$2.7M
Market Conditions
NOI Build-Up for 31,128 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
$478.1K $15.36/SF
− Vacancy
−$32.5K −$1.04/SF
EGI
$445.6K $14.32/SF
− OpEx
−$200.5K −$6.44/SF
NOI
$245.1K $7.87/SF
Area
Laredo, TX
Vacancy
6.80%
Lease Rate
$15.36 /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%
$4,901,740
Cap Rate 7%
$3,501,243
Cap Rate 9%
$2,723,189
Alternative Uses
Best Use
Apartment 5plus
$3.50M
$3.06M – $4.08M
NOI $245,087 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.66M
$6.71M – $8.94M
NOI $536,472 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
32
Residential units
Location Intelligence
Trade Area within ½ mile
542
Businesses Nearby
Explore this area
Business Placement
Demographics for 78045, TX
65,354
Population
21,669
Households
3
Avg Household Size
32
Median Age
35%
College-Educated
83%
High-School Grad
663.0 sq mi
ZIP Area
99
Density / Sq Mi
$89,334
Median Household Income
$46,929
Median Earnings
$1,404
Median Rent
$227,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Four-story multifamily property built in 2015 with an elevator, pool, gated security, and balconies.
Where is this apartment building located?
The property is located at 502 Shiloh Drive Laredo, TX.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: 32‑unit apartment building; Four‑story multifamily complex; Built in 2015
