Live-Work Property with
For Sale
$699,900
5037 N State Highway 123, Seguin, TX 78155
COMMERCIAL - Seguin, TX
Property Size2,368 SF
Lot Size2.44 Acres
Price / SF$295.57
Days on Market186
Property Features for 5037 N State Highway 123
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
comm
Parking features
Garage, Carport
Lot features
One To Three Acres, City Lot, Sprinklers Automatic, Sprinklers Partial
High school
Navarro High School
Elementary school district
Navarro ISD
Middle school district
Navarro ISD
High school district
Navarro ISD
Directions
HWY 123 NORTH. EAST SIDE OF HWY 123. JUST BEFORE THE NEW NAVARRO HIGH SCHOOL.
Standard status
Active
APN
52732
Size
2,368 SF
Lot size
2.44 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ABS: 10 SUR: M CHERINO 2.4390 AC.
Tax Annual Amount
9041
Legal Description
ABS: 10 SUR: M CHERINO 2.4390 AC.
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Well, Private
Amenities
gated access
covered area
screened porch
swimming pool
oversized carport
2 car garage
Building Details
Year built
1984
Floors in Building
1
Flooring type
Laminate, Tile
Building materials
Brick, HardiplankType, Stucco
Roof type
Shingle, Composition
Listing Agency:
Anders Pierce Realty, LLC
(830) 214-6002
Listed By:
Heath Anders · License #0498440
(830) 534-8811
Added: Feb 9
Changed: Aug 4
Last Checked: Aug 14 at 9:06AM
MLS# 604016
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This live-work property includes a 3-bedroom, 2.5-bath home plus an efficiency 1/1 apartment. The home features an island kitchen with a breakfast bar, built-in microwave, and stainless appliances, along with a second living area that opens to the patio and includes a wet bar with a wine refrigerator. The property also offers gated access, a 22 x 54 covered entertaining area, a screened-in porch, a swimming pool, an oversized carport, and a 2-car garage.
The front half of the 2.4-acre tract is zoned for commercial use. The location is on the north side of Seguin and is described as having high traffic, with close proximity to Navarro High School and easy access to IH-10, Hwy 46, and IH-35.
Water is supplied by a well for the home and irrigation, with cooperative (COOP) water also available.
The front half of the 2.4-acre tract is zoned for commercial use. The location is on the north side of Seguin and is described as having high traffic, with close proximity to Navarro High School and easy access to IH-10, Hwy 46, and IH-35.
Water is supplied by a well for the home and irrigation, with cooperative (COOP) water also available.
Key Highlights
- 3‑bedroom, 2.5‑bath home on a 2.4‑acre tract with a 1/1 apartment for live/work use
- Front half of the tract is zoned for commercial use
- Additional features include gated access, a 22 x 54 covered entertaining area, and a screened porch
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
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
51
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Three-bedroom home with 1/1 apartment and commercial zoning on the front half of the tract.
Where is this live-work space 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: 3‑bedroom, 2.5‑bath home on a 2.4‑acre tract with a 1/1 apartment for live/work use; Front half of the tract is zoned for commercial use; Additional features include gated access, a 22 x 54 covered entertaining area, and a screened porch
