Retail Flex Building with Overhead
For Sale
$950,000
6602 Navarro Street, Victoria, TX 77904
Renovated 7,400 sf masonry flex building includes three pedestrian entrances and a 10x10 overhead door.
Property Size7,400 SF
Lot Size1.35 Acres
Price / SF$128.38
Days on Market443
Property Features for 6602 Navarro Street
General Information
Standard status
Active
Size
7,400 SF
Lot size
1.35 Acres
Property subtype
General Commercial
Additional Details
Traffic Count
36,000 vehicles/day
Drive-In Doors
1
Amenities
Central Air, Electric
3
Concrete
Metal
Handicap Parking.
Security Lighting. City Road.
Building Details
Year Built
1978
Year Renovated
2022
Stories
1
Listing Agency:
Woolson Real Estate Inc
(361) 571-0161
Listed By:
Nancy Garner · License #0319521
(361) 571-0161
Source:
Xome
Added: Jun 8, 2025
Changed: Aug 24
Last Checked: Aug 24 at 5:16AM
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 Woolson Real Estate Inc
Investment Insights
Based on property information with market context.
This retail flex building offers a mix of storefront-ready entry points and warehouse functionality. The property was built in 1978 and renovated in 2022. Improvements include three pedestrian entrances and one 10 x 10 overhead door, with masonry and rock construction on three sides and metal on the remainder. An awning at the entrance provides additional covered space, and the roof is built-up. Interior systems include three split HVAC systems, supporting multiple tenant configurations.
The site includes asphalt parking area of approximately 23,225 sf and approximately 800 sf of concrete, within an irregular-shaped parcel. Public remarks note a latest daily traffic count of 36,000.
Prior to renovation, the building was divided into a showroom and warehouse. The owner will consider a NNN lease at $12 annually.
The site includes asphalt parking area of approximately 23,225 sf and approximately 800 sf of concrete, within an irregular-shaped parcel. Public remarks note a latest daily traffic count of 36,000.
Prior to renovation, the building was divided into a showroom and warehouse. The owner will consider a NNN lease at $12 annually.
Key Highlights
- Renovated 7,400 SF masonry flex retail building built in 1978
- Could accommodate 1–3 tenants and was previously divided into showroom and warehouse
- Three pedestrian entrances plus one 10x10 overhead door
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
1
Drive-in doors
36,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
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?
Retail space - Renovated 7,400 sf masonry flex building includes three pedestrian entrances and a 10x10 overhead door.
Where is this retail space located?
The property is located at 6602 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: Renovated 7,400 SF masonry flex retail building built in 1978; Could accommodate 1–3 tenants and was previously divided into showroom and warehouse; Three pedestrian entrances plus one 10x10 overhead door
