Single-Story Assisted Living
For Sale
$384,000
647 Cypressgreen Dr, San Antonio, TX 78245
Former Type B personal care home with accessible resident accommodations, staff office, secured storage, and covered outdoor areas.
Property Size2,008 SF
Price / SF$191.24
Days on Market35
Property Features for 647 Cypressgreen Dr
General Information
Standard status
Active
Size
2,008 SF
Additional Details
Highway Access
Yes
Sprinkler System
Yes
Amenities
handicap-accessible bathrooms
roll-in showers
handicap bars
secure office
two covered patios
direct-connect fire alarm
Building Details
Year Built
1986
Year Renovated
2017
Buildings
1
Stories
1
Listing Agency:
StepStone Realty, LLC
(210) 865-8040
Listed By:
Anita Ortiz
Source:
Shebaramos
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 25 at 5:27AM
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 StepStone Realty, LLC
Investment Insights
Based on property information with market context.
This single-story assisted living property includes 6 bedrooms, 2.5 baths, a staff office, laundry room, secured storage closets, and two covered backyard patios. Three front bedrooms can accommodate shared arrangements, while three rear bedrooms are configured for private occupancy; one rear bedroom includes a half bath. Accessible improvements include tile flooring, roll-in showers, and support bars in the bathrooms.
The residence previously operated as a licensed Type B personal care home and includes a commercial sprinkler system with a direct-connect fire alarm. Renovation work completed in 2017 included flooring, kitchen, bathrooms, and paint. Additional updates include a 5-ton A/C system installed approximately 2020, a new roof in 2026, interior paint, and foundation leveling in 2026. Furniture and equipment convey, including two refrigerators and a washer and dryer. The property is located on Cypressgreen Dr in San Antonio, near the Hwy 151 medical corridor.
The residence previously operated as a licensed Type B personal care home and includes a commercial sprinkler system with a direct-connect fire alarm. Renovation work completed in 2017 included flooring, kitchen, bathrooms, and paint. Additional updates include a 5-ton A/C system installed approximately 2020, a new roof in 2026, interior paint, and foundation leveling in 2026. Furniture and equipment convey, including two refrigerators and a washer and dryer. The property is located on Cypressgreen Dr in San Antonio, near the Hwy 151 medical corridor.
Key Highlights
- 6‑bedroom, 2.5‑bath single‑story assisted living property
- Previously operated as a licensed Type B personal care home
- Commercial sprinkler system and direct‑connect fire alarm
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
$19,515
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
5.08%
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%
$390,300
$390.3K
Cap Rate 7%
$278,786
$278.8K
Cap Rate 9%
$216,833
$216.8K
Market Conditions
NOI Build-Up for 2,008 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
$37.3K $18.60/SF
− Vacancy
−$1.9K −$0.93/SF
EGI
$35.5K $17.67/SF
− OpEx
−$16.0K −$7.95/SF
NOI
$19.5K $9.72/SF
Area
ZIP 78245
Vacancy
5.00%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
45.00%
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%
$390,300
Cap Rate 7%
$278,786
Cap Rate 9%
$216,833
Alternative Uses
Best Use
Apartment 5plus
$278.8K
$243.9K – $325.3K
NOI $19,515 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$512.2K
$448.2K – $597.6K
NOI $35,854 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78245, TX
93,031
Population
32,219
Households
2.9
Avg Household Size
31
Median Age
26%
College-Educated
91%
High-School Grad
35.2 sq mi
ZIP Area
2,643
Density / Sq Mi
$87,890
Median Household Income
$43,165
Median Earnings
$1,563
Median Rent
$241,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Former Type B personal care home with accessible resident accommodations, staff office, secured storage, and covered outdoor areas.
Where is this assisted living facility located?
The property is located at 647 Cypressgreen Dr San Antonio, TX.
What is the asking price?
The asking price for this property is $384,000.
What are key features of this property?
This property features: 6‑bedroom, 2.5‑bath single‑story assisted living property; Previously operated as a licensed Type B personal care home; Commercial sprinkler system and direct‑connect fire alarm
