Mixed-Use Property with Two
For Sale
$740,000
730 County Road 664, Devine, TX 78016
Two residences and multiple outbuildings create flexible live-work, residential, and business-use possibilities on unrestricted land.
Property Size5,391 SF
Lot Size2.00 Acres
Price / SF$137.27
Days on Market9
Property Features for 730 County Road 664
General Information
Standard status
Active
Size
5,391 SF
Lot size
2.00 Acres
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Listing Agency:
TX SOLD, LLC
(830) 433-0101
Listed By:
Melissa Rodriguez
Source:
Sarahildebrandaguilera
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 25 at 5:25AM
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 TX SOLD, LLC
Investment Insights
Based on property information with market context.
This mixed-use property includes two residences on 2 unrestricted acres. One home measures approximately 1,800 square feet with three bedrooms, two full bathrooms, granite countertops, and a refrigerator and stove. The second residence measures approximately 3,592 square feet and includes seven bedrooms, four full bathrooms, a large kitchen, living and dining areas, an office, and an oversized laundry room. Its hardwired fire alarm system includes a central control panel and audible alarms throughout the building. The larger home was previously licensed as an assisted living facility; any future licensing, permitting, zoning, and use requirements require independent verification.
Additional improvements include a two-story barn-style structure with a garage, finished lower level, and unfinished upper level. A separate double-bay metal building has electricity and a commercial sink. Each home has its own electric meter, while municipal water and a water well serve the property. Mature oak, pecan, peach, and pear trees surround the site along a county road, and the property has no city taxes.
Additional improvements include a two-story barn-style structure with a garage, finished lower level, and unfinished upper level. A separate double-bay metal building has electricity and a commercial sink. Each home has its own electric meter, while municipal water and a water well serve the property. Mature oak, pecan, peach, and pear trees surround the site along a county road, and the property has no city taxes.
Key Highlights
- Two homes on 2 unrestricted acres
- Home 1: approximately 1,800 sq. ft., 3 bedrooms, and 2 full bathrooms
- Home 2: approximately 3,592 sq. ft., 7 bedrooms, and 4 full bathrooms
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
$48,034
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
6.49%
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%
$960,680
$960.7K
Cap Rate 7%
$686,200
$686.2K
Cap Rate 9%
$533,711
$533.7K
Market Conditions
NOI Build-Up for 5,391 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
$97.0K $18.00/SF
− Vacancy
−$9.7K −$1.80/SF
EGI
$87.3K $16.20/SF
− OpEx
−$39.3K −$7.29/SF
NOI
$48.0K $8.91/SF
Area
Medina County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$960,680
Cap Rate 7%
$686,200
Cap Rate 9%
$533,711
Alternative Uses
Best Use
Office B
$1.05M
$918.4K – $1.22M
NOI $73,473 @ 7.0% cap · market cap 9.93%
Second Best
Mixed Use
$1.02M
$889.5K – $1.19M
NOI $71,161 @ 7.0% cap · market cap 9.62%
Theoretical Best
Office A
$1.38M
$1.20M – $1.60M
NOI $96,261 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 78016, TX
10,530
Population
4,281
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
87%
High-School Grad
158.3 sq mi
ZIP Area
67
Density / Sq Mi
$57,609
Median Household Income
$36,769
Median Earnings
$739
Median Rent
$173,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two residences and multiple outbuildings create flexible live-work, residential, and business-use possibilities on unrestricted land.
Where is this mixed-use property located?
The property is located at 730 County Road 664 Devine, TX.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: Two homes on 2 unrestricted acres; Home 1: approximately 1,800 sq. ft., 3 bedrooms, and 2 full bathrooms; Home 2: approximately 3,592 sq. ft., 7 bedrooms, and 4 full bathrooms
