Flex Space with Secure
For Sale
Contact for pricing
512 HARTMAN RD, Victoria, TX 77905
Office, reception, restroom, shop, and gated fenced yard support mixed office and operational functions.
Property Size4,850 SF
Price / SF$123.30
Days on Market126
Property Features for 512 HARTMAN RD
General Information
Standard status
Active
Size
4,850 SF
Property subtype
Retail, Industrial
Net Operating Income
$43,657
Building Details
Year Built
2013
Stories
1
Units
1
Listing Agency:
RE/MAX Grand
(713) 922-2919
Listed By:
ADEL HAZIM · License #TX 484450
Source:
Crexi
Added: Apr 29
Changed: Aug 30
Last Checked: Sep 1 at 4:58AM
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 RE/MAX Grand
Investment Insights
Based on property information with market context.
Built in 2013, the 4,850-square-foot flex property combines approximately 750 square feet of office area with a larger shop component. The office portion includes a dedicated office, reception area, and restroom, while the surrounding 0.9-acre site is enclosed with fencing and accessed through a gate.
The property is located at 512 Hartman Rd in Victoria, Texas, with visibility from Highway 69. Its building-and-yard configuration provides a combination of administrative space, shop area, and secured outdoor storage or operational space.
The property is located at 512 Hartman Rd in Victoria, Texas, with visibility from Highway 69. Its building-and-yard configuration provides a combination of administrative space, shop area, and secured outdoor storage or operational space.
Key Highlights
- 4,850‑square‑foot building constructed in 2013
- Approximately 750 square feet of office space with office, reception area, and restroom
- 0.9‑acre fenced lot with gate
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
$34,047
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
5.69%
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%
$680,940
$680.9K
Cap Rate 7%
$486,386
$486.4K
Cap Rate 9%
$378,300
$378.3K
Market Conditions
NOI Build-Up for 4,850 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
$58.2K $12.00/SF
− Vacancy
−$5.8K −$1.20/SF
EGI
$52.4K $10.80/SF
− OpEx
−$18.3K −$3.78/SF
NOI
$34.0K $7.02/SF
Area
Victoria County, TX
Vacancy
10.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$680,940
Cap Rate 7%
$486,386
Cap Rate 9%
$378,300
Alternative Uses
Best Use
Flex RnD
$486.4K
$425.6K – $567.5K
NOI $34,047 @ 7.0% cap · market cap 5.69%
Second Best
Warehouse
$433.3K
$379.1K – $505.5K
NOI $30,328 @ 7.0% cap · market cap 5.07%
Theoretical Best
Multifamily LT 5
$53.28M
$46.62M – $62.16M
NOI $3,729,762 @ 7.0% cap · market cap 623.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77905, TX
15,282
Population
6,854
Households
2.2
Avg Household Size
43
Median Age
17%
College-Educated
89%
High-School Grad
428.7 sq mi
ZIP Area
36
Density / Sq Mi
$81,925
Median Household Income
$43,522
Median Earnings
$1,094
Median Rent
$208,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office, reception, restroom, shop, and gated fenced yard support mixed office and operational functions.
Where is this flex space located?
The property is located at 512 HARTMAN RD Victoria, TX.
What is the asking price?
The asking price for this property is $598,000.
What are key features of this property?
This property features: 4,850‑square‑foot building constructed in 2013; Approximately 750 square feet of office space with office, reception area, and restroom; 0.9‑acre fenced lot with gate
