Fenced Flex Industrial
New
For Sale
$495,000
512 Hartman Road, Victoria, TX 77905
CommercialSale, Victoria, TX
Property Size4,850 SF
Lot Size0.91 Acres
Price / SF$102.06
Days on Market3
Property Features for 512 Hartman Road
General Information
Property type
Commercial Sale
Property subtype
Other
Exterior features
Lighting
Accessibility
Accessible Approach with Ramp
Subdivision
D J C Sub 1
Lot features
City Lot, Half To One Acre Lot
Directions
Head north on Houston Hwy/ US -59T Business N toward the Victoria Airport, Turn right on Holt Rd. for approximately 0.2 miles. Turn left onto Hartman Rd, destination will be on the right in approximately 0.2 miles
Standard status
Active
APN
20390093
Size
4,850 SF
Lot size
0.91 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
D J C SUBD NO 1, BLOCK 1, LOT 1, ACRES .905
Legal Description
D J C SUBD NO 1, BLOCK 1, LOT 1, ACRES .905
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Water source
Public
Building Details
Year built
2013
Floors in Building
1
Flooring type
Vinyl, Concrete
Building materials
MetalFrame
Roof type
Metal
Listing Agency:
Woolson Real Estate Inc
(361) 578-3623
Listed By:
Nancy J Garner · License #0319521
(361) 571-0161
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 24 at 1:06PM
MLS# 623672
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.
Built in 2013, this 4,850-square-foot metal-frame flex facility occupies 0.905 acres and combines a front lobby or retail area with a service-oriented shop. The front area includes a utility sink, restroom, VCT flooring, and a suspended ceiling. The shop offers four manual overhead doors, approximately 12 feet of clearance at the eaves with a 14-foot peak, distributed electrical outlets, and two-phase power. Central electric heating, a metal roof, concrete flooring, and an accessible ramp are also in place.
The property includes approximately 12,265 square feet of concrete parking and yard area, enclosed by security fencing and supported by site lighting. Hwy 59/Future I69 is less than 1000 feet away. Public water and public sewer serve the property.
The property includes approximately 12,265 square feet of concrete parking and yard area, enclosed by security fencing and supported by site lighting. Hwy 59/Future I69 is less than 1000 feet away. Public water and public sewer serve the property.
Key Highlights
- 4,850‑square‑foot flex building on 0.905 acres
- Approximately 12,265 sq ft of concrete parking and yard area
- Four manual overhead doors measuring 12'h x 10'w
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
6.88%
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 6.88%
Second Best
Warehouse
$433.3K
$379.1K – $505.5K
NOI $30,328 @ 7.0% cap · market cap 6.13%
Theoretical Best
Multifamily LT 5
$53.28M
$46.62M – $62.16M
NOI $3,729,762 @ 7.0% cap · market cap 753.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
14 ft
Clear height
4
Drive-in doors
Yes
Fenced yard
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Metal-frame flex facility with reception space, shop functionality, and a secured outdoor work area.
Where is this flex space located?
The property is located at 512 Hartman Road Victoria, TX.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 4,850‑square‑foot flex building on 0.905 acres; Approximately 12,265 sq ft of concrete parking and yard area; Four manual overhead doors measuring 12'h x 10'w
