Upper-Floor Office
For Sale
$2,000,000
7th-425 Soledad St, San Antonio, TX 78205
Unfinished condominium office space offers a flexible starting point for a custom interior build-out in a downtown setting.
Property Size8,609 SF
Price / SF$232.32
Days on Market391
Property Features for 7th-425 Soledad St
General Information
Standard status
Active
Size
8,609 SF
Elevators
Yes
Space & Availability
Floor
7
Furnished
No
Taxes and HOA fees
Annual Taxes
$38,053
Listing Agency:
Dolce Vita Realty
(956) 322-8478
Listed By:
Olga Arriaga
(956) 827-5025
Source:
Exprealty
Added: Aug 8, 2025
Changed: Aug 31
Last Checked: Sep 2 at 1:57AM
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 Dolce Vita Realty
Investment Insights
Based on property information with market context.
This 8,609-square-foot office condominium occupies the seventh floor of Falcon Bank Condominium and is delivered as a shell, allowing the interior to be configured through a future build-out. The property is positioned for office or business use and has elevator service within the building.
The condominium is located in downtown San Antonio near law firms, technology companies, and other downtown amenities. No deeded parking conveys with the unit. Available documents include condominium rules, declaration amendments, and easement agreements; buyers should independently confirm the square footage, legal description, HOA information, parking options, and suitability for the intended use. No survey or floor plan is included.
The condominium is located in downtown San Antonio near law firms, technology companies, and other downtown amenities. No deeded parking conveys with the unit. Available documents include condominium rules, declaration amendments, and easement agreements; buyers should independently confirm the square footage, legal description, HOA information, parking options, and suitability for the intended use. No survey or floor plan is included.
Key Highlights
- 8,609 SF shell office condominium
- Seventh‑floor location within Falcon Bank Condominium
- Elevator access serves the building
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
$117,331
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
5.87%
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%
$2,346,620
$2.3M
Cap Rate 7%
$1,676,157
$1.7M
Cap Rate 9%
$1,303,678
$1.3M
Market Conditions
NOI Build-Up for 8,609 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
$190.1K $22.08/SF
− Vacancy
−$33.6K −$3.91/SF
EGI
$156.4K $18.17/SF
− OpEx
−$39.1K −$4.54/SF
NOI
$117.3K $13.63/SF
Area
San Antonio, TX
Vacancy
17.70%
Lease Rate
$22.08 /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%
$2,346,620
Cap Rate 7%
$1,676,157
Cap Rate 9%
$1,303,678
Alternative Uses
Best Use
Office B
$1.68M
$1.47M – $1.96M
NOI $117,331 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.20M
$1.92M – $2.56M
NOI $153,721 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,097
Businesses Nearby
Explore this area
Business Placement
Demographics for 78205, TX
2,339
Population
1,755
Households
1.3
Avg Household Size
43
Median Age
44%
College-Educated
84%
High-School Grad
1.2 sq mi
ZIP Area
1,949
Density / Sq Mi
$34,631
Median Household Income
$43,382
Median Earnings
$1,265
Median Rent
$470,200
Median Home Value
Market
Vacancy Rate% for Office in San Antonio, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Unfinished condominium office space offers a flexible starting point for a custom interior build-out in a downtown setting.
Where is this office units located?
The property is located at 7th-425 Soledad St San Antonio, TX.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 8,609 SF shell office condominium; Seventh‑floor location within Falcon Bank Condominium; Elevator access serves the building
