Flex Space with Warehouse
For Sale
$160,000
Pending
702 Upton Ave, Schulenburg, TX 78956
Commercial, Schulenburg, TX
Property Size2,600 SF
Lot Size0.07 Acres
Days on Market69
Property Features for 702 Upton Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Exterior features
Brick
High school district
Schulenburg ISD
Directions
At Hwy 90 and Hwy 77 in Schulenburg, head west on Hwy 90, left on Upton. Drive one block to Anderson and the property is on SE corner of Anderson and S Upton.
Standard status
Pending
APN
44746
Size
2,600 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
1303
Utilities
Water source
Public
Building Details
Floors in Building
2
Building materials
Standard Frame
Roof type
Metal
Listing Agency:
Bubela Real Estate
(979) 743-4555
Listed By:
Bubela Real Estate
Schulenburg (979) 221-6679 Flatonia (361)741-4890
Added: Jul 19
Changed: Sep 22
Last Checked: Sep 25 at 7:06AM
MLS# 150153
Copyright © 2026 South Central Texas Board of Realtors. 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 2,600-square-foot flex property combines a front section suited to retail or office functions with a rear warehouse area. A mezzanine adds overhead storage, while the side entrance supports loading and unloading. The building has brick exterior construction, a metal roof, standard-frame construction, public water, and two bathrooms.
The property occupies a 0.07-acre corner lot at 702 Upton Ave in downtown Schulenburg, across from the local police department. Its setting within the downtown business area places it near businesses and restaurants, with the source information noting visibility and foot traffic. The configuration accommodates customer-facing operations alongside storage and work areas.
The property occupies a 0.07-acre corner lot at 702 Upton Ave in downtown Schulenburg, across from the local police department. Its setting within the downtown business area places it near businesses and restaurants, with the source information noting visibility and foot traffic. The configuration accommodates customer-facing operations alongside storage and work areas.
Key Highlights
- 2,600 square feet of combined retail or office area and rear warehouse space
- 0.07‑acre corner lot at 702 Upton Ave in downtown Schulenburg
- Rear warehouse includes a mezzanine for additional storage
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
$13,301
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
8.31%
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%
$266,020
$266.0K
Cap Rate 7%
$190,014
$190.0K
Cap Rate 9%
$147,789
$147.8K
Market Conditions
NOI Build-Up for 2,600 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
$20.9K $8.04/SF
− Vacancy
−$1.9K −$0.73/SF
EGI
$19.0K $7.31/SF
− OpEx
−$5.7K −$2.19/SF
NOI
$13.3K $5.12/SF
Area
Fayette County, TX
Vacancy
9.10%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
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%
$266,020
Cap Rate 7%
$190,014
Cap Rate 9%
$147,789
Alternative Uses
Best Use
Retail
$503.1K
$440.2K – $587.0K
NOI $35,218 @ 7.0% cap · market cap 22.01%
Second Best
Warehouse
$227.9K
$199.5K – $265.9K
NOI $15,956 @ 7.0% cap · market cap 9.97%
Theoretical Best
Multifamily LT 5
$29.15M
$25.51M – $34.01M
NOI $2,040,489 @ 7.0% cap · market cap 1,275.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78956, TX
5,161
Population
2,723
Households
1.9
Avg Household Size
51
Median Age
20%
College-Educated
87%
High-School Grad
169.2 sq mi
ZIP Area
31
Density / Sq Mi
$67,022
Median Household Income
$42,668
Median Earnings
$1,064
Median Rent
$231,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Brick building combines customer-facing area, rear storage, and a loading-oriented side entrance.
Where is this flex space located?
The property is located at 702 Upton Ave Schulenburg, TX.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 2,600 square feet of combined retail or office area and rear warehouse space; 0.07‑acre corner lot at 702 Upton Ave in downtown Schulenburg; Rear warehouse includes a mezzanine for additional storage
