Flex Space Building with Overhead
For Sale
$950,000
6602 N Navarro Street, Victoria, TX 77904
COMMERCIAL - Victoria, TX
Property Size7,400 SF
Lot Size1.35 Acres
Price / SF$128.38
Days on Market426
Property Features for 6602 N Navarro Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Special Needs
Security features
Security
Subdivision
Castle Hill West
Lot features
One To Three Acres
Directions
Driving north on Navarro approx. 700' past Guy Grant R. on the right. Between Guy Grant and Huvar Streets.
Standard status
Active
APN
42564
Size
7,400 SF
Lot size
1.35 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
CASTLE HILL WEST, BLOCK 7, LOT N 1/2 OF 1
Tax Annual Amount
28358
Legal Description
CASTLE HILL WEST, BLOCK 7, LOT N 1/2 OF 1
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
three pedestrian entrances
overhead door
awning
three split HVAC systems
Building Details
Year built
1978
Floors in Building
1
Flooring type
Concrete
Building materials
Masonry, MetalSiding
Roof type
Metal
Listing Agency:
Woolson Real Estate Inc
(361) 578-3623
Listed By:
Nancy J Garner · License #0319521
(361) 571-0161
Added: Jun 11, 2025
Changed: Aug 4
Last Checked: Aug 10 at 6:06PM
MLS# 575329
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 flex space building totals 7,400 SF and offers a flexible layout for one to three tenants. Built in 1978 and renovated in 2022, the structure includes three pedestrian entrances and one 10-by-10 overhead door. The building is masonry and rock on three sides, with the remainder finished in metal. A 575 SF awning is located at the entrance, and the roof is built up. The interior has concrete flooring and is served by three split HVAC systems.
The site sits on 1.3533 acres and includes approximately 23,225 SF of asphalt parking plus 800 SF of concrete. Public water and public sewer are available. The latest daily traffic count is 36,000.
The building previously operated as a showroom and warehouse, supporting a variety of flexible commercial uses today.
The site sits on 1.3533 acres and includes approximately 23,225 SF of asphalt parking plus 800 SF of concrete. Public water and public sewer are available. The latest daily traffic count is 36,000.
The building previously operated as a showroom and warehouse, supporting a variety of flexible commercial uses today.
Key Highlights
- 7,400 SF flex space building built in 1978 and renovated in 2022
- Three pedestrian entrances plus one 10‑by‑10 overhead door
- Masonry and rock on three sides with metal siding remainder; 575 SF entrance awning
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
$51,948
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
5.47%
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%
$1,038,960
$1.0M
Cap Rate 7%
$742,114
$742.1K
Cap Rate 9%
$577,200
$577.2K
Market Conditions
NOI Build-Up for 7,400 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
$88.8K $12.00/SF
− Vacancy
−$8.9K −$1.20/SF
EGI
$79.9K $10.80/SF
− OpEx
−$28.0K −$3.78/SF
NOI
$51.9K $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%
$1,038,960
Cap Rate 7%
$742,114
Cap Rate 9%
$577,200
Alternative Uses
Best Use
Retail
$1.53M
$1.34M – $1.78M
NOI $106,928 @ 7.0% cap · market cap 11.26%
Second Best
Flex RnD
$742.1K
$649.4K – $865.8K
NOI $51,948 @ 7.0% cap · market cap 5.47%
Theoretical Best
Multifamily LT 5
$81.30M
$71.13M – $94.85M
NOI $5,690,772 @ 7.0% cap · market cap 599.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
36,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
176
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77904, TX
29,646
Population
12,822
Households
2.3
Avg Household Size
39
Median Age
27%
College-Educated
93%
High-School Grad
109.9 sq mi
ZIP Area
270
Density / Sq Mi
$86,821
Median Household Income
$44,632
Median Earnings
$1,272
Median Rent
$237,900
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 - Flex space building renovated in 2022 with multiple entrances, split HVAC systems, and an overhead door for flexible tenant layouts.
Where is this flex space located?
The property is located at 6602 N Navarro Street Victoria, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 7,400 SF flex space building built in 1978 and renovated in 2022; Three pedestrian entrances plus one 10‑by‑10 overhead door; Masonry and rock on three sides with metal siding remainder; 575 SF entrance awning
