Mixed-Use Property with
For Sale
$699,900
5037 N State Highway 123, Seguin, TX 78155
The property combines a primary residence, separate apartment, and commercial zoning on the front portion.
Property Size2,368 SF
Price / SF$295.57
Days on Market44
Property Features for 5037 N State Highway 123
General Information
Standard status
Active
Size
2,368 SF
Building Details
Year Built
1984
Listing Agency:
Anders Pierce Realty
(830) 534-8811
Listed By:
Heath Anders · License #0498440
Source:
Theswinneygroup
Added: Jul 19
Changed: Aug 30
Last Checked: Aug 30 at 7:31PM
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 Anders Pierce Realty
Investment Insights
Based on property information with market context.
Set on 2.4 acres at 5037 N State Highway 123 in Seguin, this mixed-use property includes a three-bedroom, 2.5-bath residence and a one-bedroom, one-bath apartment. The front half of the tract is zoned for commercial use, creating a live-work configuration with residential and business components in one property.
Improvements include a 22 x 54 covered entertaining area, screened porch, swimming pool, oversized carport, two-car garage, and gated access. The main residence has an island kitchen with breakfast bar, built-in microwave, and stainless appliances. A second living area opens to the patio and includes a wet bar with wine refrigerator. The apartment offers a kitchenette with range, built-in microwave, and full bathroom.
The property is near the new Navarro High School, with access to IH10, Hwy 46, and IH35. A water well serves the residence and irrigation, while COOP water is available. The improvements date to 1984, and the property size is listed as 2368.
Improvements include a 22 x 54 covered entertaining area, screened porch, swimming pool, oversized carport, two-car garage, and gated access. The main residence has an island kitchen with breakfast bar, built-in microwave, and stainless appliances. A second living area opens to the patio and includes a wet bar with wine refrigerator. The apartment offers a kitchenette with range, built-in microwave, and full bathroom.
The property is near the new Navarro High School, with access to IH10, Hwy 46, and IH35. A water well serves the residence and irrigation, while COOP water is available. The improvements date to 1984, and the property size is listed as 2368.
Key Highlights
- 2.4‑acre tract with the front half zoned for commercial use
- Three‑bedroom, 2.5‑bath residence plus a 1/1 apartment
- 22 x 54 covered area, screened porch, swimming pool, and gated access
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
$32,273
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
4.61%
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%
$645,460
$645.5K
Cap Rate 7%
$461,043
$461.0K
Cap Rate 9%
$358,589
$358.6K
Market Conditions
NOI Build-Up for 2,368 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
$52.3K $22.08/SF
− Vacancy
−$9.3K −$3.91/SF
EGI
$43.0K $18.17/SF
− OpEx
−$10.8K −$4.54/SF
NOI
$32.3K $13.63/SF
Area
Guadalupe County, TX
Vacancy
17.70%
Lease Rate
$22.08 /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%
$645,460
Cap Rate 7%
$461,043
Cap Rate 9%
$358,589
Alternative Uses
Best Use
Office B
$461.0K
$403.4K – $537.9K
NOI $32,273 @ 7.0% cap · market cap 4.61%
Second Best
Mixed Use
$411.0K
$359.6K – $479.5K
NOI $28,771 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$621.1K
$543.5K – $724.6K
NOI $43,476 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Explore this area
Business Placement
Demographics for 78155, TX
51,772
Population
21,791
Households
2.4
Avg Household Size
40
Median Age
22%
College-Educated
85%
High-School Grad
355.5 sq mi
ZIP Area
146
Density / Sq Mi
$71,367
Median Household Income
$38,985
Median Earnings
$1,149
Median Rent
$246,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a primary residence, separate apartment, and commercial zoning on the front portion.
Where is this mixed-use property located?
The property is located at 5037 N State Highway 123 Seguin, TX.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 2.4‑acre tract with the front half zoned for commercial use; Three‑bedroom, 2.5‑bath residence plus a 1/1 apartment; 22 x 54 covered area, screened porch, swimming pool, and gated access
