Commercial Land with Existing
For Sale
$900,000
685 S Loop 1604, San Antonio, TX 78264
Nearly ten acres outside San Antonio city limits with an existing restaurant-oriented commercial building, stables, pond, and parking.
Property Size2,900 SF
Days on Market43
Property Features for 685 S Loop 1604
General Information
Standard status
Active
Size
2,900 SF
Total Parking Spaces
50
Property subtype
Commercial
Zoning
OCL
Taxes and HOA fees
Annual Taxes
$7,275
Building Details
Building Size
2,900 SF
Year Built
1951
Buildings
3
Units
1
Listing Agency:
Teifke Real Estate
(210) 303-0131
Listed By:
Arianne Villanueva
(210) 303-0131
Source:
Southtexasrealtyservices
Added: Jul 13
Changed: Aug 24
Last Checked: Aug 23 at 3:36AM
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 Teifke Real Estate
Investment Insights
Based on property information with market context.
This approximately 9.766-acre commercial land property includes a 1,454 SF building with an open serving area, wet bar, private rooms, office space, restrooms, and parking. The structure was designed for restaurant and bar operations and includes flexible interior areas. Horse stables and a man-made pond measuring approximately 50 feet wide by 15 feet deep are also part of the property.
The site occupies a highly traveled corner along Loop 1604 between IH-37 South and IH-35 South, outside San Antonio city limits. An engineer has indicated that approximately 7 acres may be suitable for RV park or manufactured housing development, subject to buyer verification, engineering, permitting, and governmental approvals. Existing improvements and the combination of commercial acreage and equestrian features support consideration of restaurant, event, entertainment, storage, retail, or other commercial concepts identified in the property information.
The site occupies a highly traveled corner along Loop 1604 between IH-37 South and IH-35 South, outside San Antonio city limits. An engineer has indicated that approximately 7 acres may be suitable for RV park or manufactured housing development, subject to buyer verification, engineering, permitting, and governmental approvals. Existing improvements and the combination of commercial acreage and equestrian features support consideration of restaurant, event, entertainment, storage, retail, or other commercial concepts identified in the property information.
Key Highlights
- Approximately 9.766 acres along Loop 1604 between IH‑37 South and IH‑35 South
- 1,454 SF commercial building with serving area, wet bar, private rooms, office, and restrooms
- Corner property outside San Antonio city limits
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
$44,076
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
4.90%
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%
$881,520
$881.5K
Cap Rate 7%
$629,657
$629.7K
Cap Rate 9%
$489,733
$489.7K
Market Conditions
NOI Build-Up for 2,900 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
$60.9K $21.00/SF
− Vacancy
−$2.1K −$0.74/SF
EGI
$58.8K $20.27/SF
− OpEx
−$14.7K −$5.07/SF
NOI
$44.1K $15.20/SF
Area
San Antonio, TX
Vacancy
3.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$881,520
Cap Rate 7%
$629,657
Cap Rate 9%
$489,733
Alternative Uses
Best Use
Specialty Retail
$629.7K
$551.0K – $734.6K
NOI $44,076 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$739.7K
$647.3K – $863.0K
NOI $51,782 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 78264, TX
14,705
Population
4,465
Households
3.3
Avg Household Size
35
Median Age
13%
College-Educated
76%
High-School Grad
70.7 sq mi
ZIP Area
208
Density / Sq Mi
$60,245
Median Household Income
$32,732
Median Earnings
$1,381
Median Rent
$134,300
Median Home Value
Market
Vacancy Rate% for Retail in San Antonio, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Nearly ten acres outside San Antonio city limits with an existing restaurant-oriented commercial building, stables, pond, and parking.
Where is this commercial land located?
The property is located at 685 S Loop 1604 San Antonio, TX.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Approximately 9.766 acres along Loop 1604 between IH‑37 South and IH‑35 South; 1,454 SF commercial building with serving area, wet bar, private rooms, office, and restrooms; Corner property outside San Antonio city limits
