For Sale
Contact for pricing
6920 Gardner Rd, San Antonio, TX 78263
Warehouses
Property Size22,907 SF
Price / SF$82.73
Days on Market973
Property Features for 6920 Gardner Rd
General Information
Standard status
Active
Size
22,907 SF
Property subtype
Industrial
Zoning
OCL (outside city limits)
Lease Type
NNN
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Endura Advisory Group
Listed By:
Walker Petty · License #TX 763807
(210) 366-2222
Source:
Crexi
Added: Jan 8, 2024
Changed: Sep 6
Last Checked: Sep 7 at 12:01PM
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 Endura Advisory Group
Investment Insights
Based on property information with market context.
Key Highlights
- ±22,907 sf warehouse with office and additional land for outside storage.
- Hard corner property lot at Gardner Rd & New Sulpher Springs Rd.
- 3 Phase, 600 Amp Service.
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
$159,117
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
8.40%
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%
$3,182,340
$3.2M
Cap Rate 7%
$2,273,100
$2.3M
Cap Rate 9%
$1,767,967
$1.8M
Market Conditions
NOI Build-Up for 22,907 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
$206.2K $9.00/SF
− Vacancy
−$19.0K −$0.83/SF
EGI
$187.2K $8.17/SF
− OpEx
−$28.1K −$1.23/SF
NOI
$159.1K $6.95/SF
Area
San Antonio, TX
Vacancy
9.20%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$3,182,340
Cap Rate 7%
$2,273,100
Cap Rate 9%
$1,767,967
Alternative Uses
Best Use
Office B
$4.46M
$3.90M – $5.20M
NOI $312,197 @ 7.0% cap · market cap 16.47%
Second Best
Warehouse
$2.27M
$1.99M – $2.65M
NOI $159,117 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$5.84M
$5.11M – $6.82M
NOI $409,023 @ 7.0% cap · market cap 21.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78263, TX
4,995
Population
1,630
Households
3.1
Avg Household Size
47
Median Age
29%
College-Educated
87%
High-School Grad
38.2 sq mi
ZIP Area
131
Density / Sq Mi
$81,793
Median Household Income
$44,676
Median Earnings
$1,142
Median Rent
$312,600
Median Home Value
Market
Vacancy Rate% for Office in San Antonio, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this warehouse located?
The property is located at 6920 Gardner Rd San Antonio, TX.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: ±22,907 sf warehouse with office and additional land for outside storage.; Hard corner property lot at Gardner Rd & New Sulpher Springs Rd.; 3 Phase, 600 Amp Service.
