Two-Tenant Medical Strip For
For Sale
Contact for pricing
Pending
8206 N Navarro St, Victoria, TX 77904
100% occupied medical strip in Victoria's shopping district.
Property Size8,829 SF
Days on Market154
Property Features for 8206 N Navarro St
General Information
Standard status
Pending
Size
8,829 SF
Class
B
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Building Details
Year Built
1995
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
KW Commercial Texas
(832) 720-5626
Listed By:
Melanne Carpenter · License #TX 741309
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 8 at 6:32AM
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 KW Commercial Texas
Investment Insights
Based on property information with market context.
This 8,829 RSF medical strip is 100% occupied by two tenants: Citizens Medical Center and DaVita, with renewal options available. The property is located in Victoria’s main shopping district and has direct access to Zac Lentz Pkwy, which sees up to 33,685 vehicles per day. Additional traffic flows from Navarro/US 77. The site is surrounded by national anchors and daily-trip retailers. It is approximately 4.4 miles, a 12-minute drive, to Texas A&M–Victoria, supporting steady customer traffic and consistent demand for the tenants. The lease structure is NNN.
Key Highlights
- 100% Occupied with stable tenants: Citizens Medical Center and DaVita
- High Traffic Location: Direct access to Zac Lentz Pkwy (33,685 VPD)
- Strong Net Operating Income (NOI): $154,415.04
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
$147,683
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
7.03%
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%
$2,953,660
$3.0M
Cap Rate 7%
$2,109,757
$2.1M
Cap Rate 9%
$1,640,922
$1.6M
Market Conditions
NOI Build-Up for 8,829 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
$271.2K $30.72/SF
− Vacancy
−$74.3K −$8.42/SF
EGI
$196.9K $22.30/SF
− OpEx
−$49.2K −$5.58/SF
NOI
$147.7K $16.73/SF
Area
Victoria County, TX
Vacancy
27.40%
Lease Rate
$30.72 /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%
$2,953,660
Cap Rate 7%
$2,109,757
Cap Rate 9%
$1,640,922
Alternative Uses
Best Use
Office B
$2.11M
$1.85M – $2.46M
NOI $147,683 @ 7.0% cap · market cap 7.03%
Second Best
Healthcare Medical
$2.00M
$1.75M – $2.33M
NOI $139,851 @ 7.0% cap · market cap 6.66%
Theoretical Best
Multifamily LT 5
$97.00M
$84.87M – $113.16M
NOI $6,789,706 @ 7.0% cap · market cap 323.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
176
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77904, TX
29,646
Population
12,822
Households
2.3
Avg Household Size
39
Median Age
27%
College-Educated
93%
High-School Grad
109.9 sq mi
ZIP Area
270
Density / Sq Mi
$86,821
Median Household Income
$44,632
Median Earnings
$1,272
Median Rent
$237,900
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?
Medical Office Space - 100% occupied medical strip in Victoria's shopping district.
Where is this medical office space located?
The property is located at 8206 N Navarro St Victoria, TX.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 100% Occupied with stable tenants: Citizens Medical Center and DaVita; High Traffic Location: Direct access to Zac Lentz Pkwy (33,685 VPD); Strong Net Operating Income (NOI): $154,415.04
