Flexible Commercial Building with Fenced
For Sale
$175,000
802 E North Street, Victoria, TX 77901
CommercialSale, Victoria, TX
Property Size2,657 SF
Lot Size0.39 Acres
Price / SF$65.86
Days on Market219
Property Features for 802 E North Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Oliver
Lot features
City Lot, Quarter To Half Acre Lot
Directions
Heading South on N. Navarro, Turn left on North St., Building is located at the corner of North St and Cameron St.
Standard status
Active
APN
57106
Size
2,657 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OLIVER PTS OF LOTS 2 & LOT 3 BLOCK 10
Legal Description
OLIVER PTS OF LOTS 2 & LOT 3 BLOCK 10
Utilities
Sewer type
Public Sewer
Cooling system
Central Air, Window Unit(s)
Water source
Public
Amenities
privacy-fenced yard
Building Details
Year built
1949
Floors in Building
1
Flooring type
Concrete, Paintedstained
Building materials
Block, Concrete
Roof type
Flat
Listing Agency:
Woolson Real Estate Inc
(361) 578-3623
Listed By:
Allison Vinson-Shepard · License #705812
(361) 676-2502
Added: Jan 16
Changed: Aug 20
Last Checked: Aug 23 at 7:06PM
MLS# 601955
Copyright © 2026 Central Texas Multiple Listing Service. 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 flex space at 802 E North Street provides 2,657 square feet of adaptable commercial area on a 0.3867-acre parcel. The 1949 building features block and concrete construction, concrete and painted-stained flooring, a flat roof, and a combination of central air and window-unit cooling. The interior can be arranged for changing operational requirements, while the fenced yard adds secure outdoor area beyond the building.
Public water and public sewer serve the property. Its Victoria, Texas location places the building on E North Street, with the combination of enclosed space and yard supporting a range of commercial configurations without relying solely on the interior footprint.
Public water and public sewer serve the property. Its Victoria, Texas location places the building on E North Street, with the combination of enclosed space and yard supporting a range of commercial configurations without relying solely on the interior footprint.
Key Highlights
- 2,657 SF flex space on a 0.3867‑acre parcel
- Privacy‑fenced yard provides additional secured outdoor area
- Block and concrete construction with a flat roof
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
$13,683
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
7.82%
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%
$273,660
$273.7K
Cap Rate 7%
$195,471
$195.5K
Cap Rate 9%
$152,033
$152.0K
Market Conditions
NOI Build-Up for 2,657 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
$21.4K $8.04/SF
− Vacancy
−$1.8K −$0.68/SF
EGI
$19.5K $7.36/SF
− OpEx
−$5.9K −$2.21/SF
NOI
$13.7K $5.15/SF
Area
Victoria County, TX
Vacancy
8.50%
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%
$273,660
Cap Rate 7%
$195,471
Cap Rate 9%
$152,033
Alternative Uses
Best Use
Flex RnD
$266.5K
$233.2K – $310.9K
NOI $18,652 @ 7.0% cap · market cap 10.66%
Second Best
Industrial
$195.5K
$171.0K – $228.1K
NOI $13,683 @ 7.0% cap · market cap 7.82%
Theoretical Best
Multifamily LT 5
$29.19M
$25.54M – $34.05M
NOI $2,043,295 @ 7.0% cap · market cap 1,167.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,373
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77901, TX
40,062
Population
17,438
Households
2.3
Avg Household Size
35
Median Age
15%
College-Educated
76%
High-School Grad
18.1 sq mi
ZIP Area
2,213
Density / Sq Mi
$57,728
Median Household Income
$33,127
Median Earnings
$1,105
Median Rent
$133,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Country Catering & Bar-B-Que — Victoria, TX 77901
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial space with a privacy-fenced yard and public water and sewer service.
Where is this flex space located?
The property is located at 802 E North Street Victoria, TX.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 2,657 SF flex space on a 0.3867‑acre parcel; Privacy‑fenced yard provides additional secured outdoor area; Block and concrete construction with a flat roof
