Concrete Office
For Sale
$589,000
900 Moore Avenue, Portland, TX 78374
CommercialSale, Portland, TX
Property Size3,928 SF
Lot Size0.96 Acres
Price / SF$149.95
Days on Market168
Property Features for 900 Moore Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Off Street
Accessibility
Accessible Approach with Ramp
Subdivision
1406
Lot features
Corner Lot
Standard status
Active
APN
1406-0017-0026-002
Size
3,928 SF
Lot size
0.96 Acres
Taxes and HOA fees
Tax Description
PORTLAND TIER H BLK 17 LOT 26
Legal Description
PORTLAND TIER H BLK 17 LOT 26
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
vault
lobby
handicap ramp
handicap push button door
drive through window
flag pole
chain link fence
open storage building
Building Details
Year built
1960
Floors in Building
1
Building materials
Block, Concrete
Roof type
Flat
Listing Agency:
Cass Real Estate
(361) 643-2662
Listed By:
Sandra Sanchez · License #0473327
(361) 765-2402
Added: Apr 13
Changed: Sep 21
Last Checked: Sep 27 at 2:06PM
MLS# 474622
Copyright © 2026 South Texas Multiple Listing Service, LLC. 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.
Formerly used as Portland City Hall, this 3,928-square-foot office building dates to 1960 and occupies a 0.96-acre site. The layout includes about nine offices, a vault, lobby, separate men’s and women’s bathrooms, and a drive-through window. Block and concrete construction, a flat roof, central air, and electric central heating are in place, with updating needed.
The property includes front, side, and rear off-street parking, an accessible approach with ramp, and a push-button door. Additional site improvements include an open storage building, chain-link fencing, a flagpole, and a rear yard that can accommodate additional parking or storage. Public water and public sewer serve the property.
The property includes front, side, and rear off-street parking, an accessible approach with ramp, and a push-button door. Additional site improvements include an open storage building, chain-link fencing, a flagpole, and a rear yard that can accommodate additional parking or storage. Public water and public sewer serve the property.
Key Highlights
- 3,928 SF office building on a 0.96‑acre site
- About nine offices plus a vault, lobby, and separate men’s and women’s bathrooms
- Block and concrete construction dating to 1960
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
$50,818
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
8.63%
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%
$1,016,360
$1.0M
Cap Rate 7%
$725,971
$726.0K
Cap Rate 9%
$564,644
$564.6K
Market Conditions
NOI Build-Up for 3,928 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
$93.3K $23.76/SF
− Vacancy
−$25.6K −$6.51/SF
EGI
$67.8K $17.25/SF
− OpEx
−$16.9K −$4.31/SF
NOI
$50.8K $12.94/SF
Area
San Patricio County, TX
Vacancy
27.40%
Lease Rate
$23.76 /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%
$1,016,360
Cap Rate 7%
$725,971
Cap Rate 9%
$564,644
Alternative Uses
Best Use
Office B
$726.0K
$635.2K – $847.0K
NOI $50,818 @ 7.0% cap · market cap 8.63%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$2.02M
$1.76M – $2.35M
NOI $141,054 @ 7.0% cap · market cap 23.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
9
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Explore this area
Business Placement
Demographics for 78374, TX
20,281
Population
8,426
Households
2.4
Avg Household Size
35
Median Age
25%
College-Educated
92%
High-School Grad
18.6 sq mi
ZIP Area
1,090
Density / Sq Mi
$81,580
Median Household Income
$43,110
Median Earnings
$1,492
Median Rent
$225,800
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Former municipal office facility with multiple private offices, public utilities, accessible entry, and parking on three sides.
Where is this office building located?
The property is located at 900 Moore Avenue Portland, TX.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 3,928 SF office building on a 0.96‑acre site; About nine offices plus a vault, lobby, and separate men’s and women’s bathrooms; Block and concrete construction dating to 1960
