Retail Storefront with
New
For Sale
$289,000
516 N Teel Dr, Devine, TX 78016
The interior includes a kitchen area, a checkout zone, and two large storage spaces.
Property Size1,958 SF
Price / SF$147.60
Days on Market7
Property Features for 516 N Teel Dr
General Information
Standard status
Active
Size
1,958 SF
Zoning
Retail shopping District
Taxes and HOA fees
Annual Taxes
$3,861
Listing Agency:
Morales Realty, LLC
(830) 665-2899
Listed By:
Cynthia Morales
(210) 218-6530
Source:
Exprealty
Added: Sep 21
Changed: Sep 27
Last Checked: Sep 26 at 3:09PM
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 Morales Realty, LLC
Investment Insights
Based on property information with market context.
This retail storefront offers open interior space, a substantial checkout area, a kitchen area, and two large storage spaces. Two central air and heat units serve the building. The property is zoned Retail Shopping District and has previously accommodated convenience retail, restaurant, flooring, and gift shop uses.
Located at 516 N Teel Dr in Devine, the property is positioned for retail use within the city.
Located at 516 N Teel Dr in Devine, the property is positioned for retail use within the city.
Key Highlights
- Retail Shopping District zoning
- Two central air and heat units
- Two large storage spaces
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
$26,210
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
9.07%
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%
$524,200
$524.2K
Cap Rate 7%
$374,429
$374.4K
Cap Rate 9%
$291,222
$291.2K
Market Conditions
NOI Build-Up for 1,958 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
$39.0K $19.92/SF
− Vacancy
−$1.6K −$0.80/SF
EGI
$37.4K $19.12/SF
− OpEx
−$11.2K −$5.74/SF
NOI
$26.2K $13.39/SF
Area
Medina County, TX
Vacancy
4.00%
Lease Rate
$19.92 /SF/Yr
Expense Ratio
30.00%
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%
$524,200
Cap Rate 7%
$374,429
Cap Rate 9%
$291,222
Alternative Uses
Best Use
Retail
$374.4K
$327.6K – $436.8K
NOI $26,210 @ 7.0% cap · market cap 9.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$499.5K
$437.0K – $582.7K
NOI $34,962 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
19k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 39%
Las Palmas Mexican Restaurant
Dining
5,344 visits/mo
0.2 miles
Shell
Shops & Services
4,759 visits/mo
0.4 miles
Church's Chicken
Dining
4,699 visits/mo
0.4 miles
American Momentum Bank
Shops & Services
1,694 visits/mo
0.5 miles
Felipe's
Dining
1,318 visits/mo
0.4 miles
Demographics for 78016, TX
10,530
Population
4,281
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
87%
High-School Grad
158.3 sq mi
ZIP Area
67
Density / Sq Mi
$57,609
Median Household Income
$36,769
Median Earnings
$739
Median Rent
$173,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - The interior includes a kitchen area, a checkout zone, and two large storage spaces.
Where is this storefront property located?
The property is located at 516 N Teel Dr Devine, TX.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Retail Shopping District zoning; Two central air and heat units; Two large storage spaces
