Concrete Block Office
For Sale
$589,000
900 Moore Ave, Portland, TX 78374
Former municipal office with multiple rooms, parking on three sides, and additional yard and storage areas.
Property Size3,928 SF
Lot Size1.00 Acre
Price / SF$149.95
Days on Market125
Property Features for 900 Moore Ave
General Information
Standard status
Active
Size
3,928 SF
Lot size
1.00 Acre
Property Condition
Severity
Minor
Evidence
Needs some updating
Additional Details
Highway Access
Yes
Amenities
vault
lobby
drive through window
flag pole
handicap ramp
handicap push button door
open storage building
chain link fence
Building Details
Buildings
2
Construction
concrete block
Listing Agency:
Cass Real Estate
(361) 765-2402
Listed By:
Sandra Sanchez · License #0473327
(361) 765-2402
Source:
Exprealty
Added: Apr 13
Changed: Aug 14
Last Checked: Aug 14 at 5:50AM
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 Cass Real Estate
Investment Insights
Based on property information with market context.
This 3,928-square-foot office building occupies approximately 1 acre and was constructed in the 1960s. The former municipal facility includes about nine offices, a vault, separate men’s and women’s bathrooms, and a lobby. Concrete block exterior walls, a handicap ramp, push-button accessible entry, and a drive-through window are among the existing improvements.
Parking is available at the front, side, and rear of the building. The property also includes a detached storage building, a fenced rear area, a backyard that can support additional parking or storage, and a flagpole. The site is positioned on a busy corner approximately one block from a major highway. The structure requires updating, while the existing layout and site improvements provide a defined office configuration.
Parking is available at the front, side, and rear of the building. The property also includes a detached storage building, a fenced rear area, a backyard that can support additional parking or storage, and a flagpole. The site is positioned on a busy corner approximately one block from a major highway. The structure requires updating, while the existing layout and site improvements provide a defined office configuration.
Key Highlights
- 3,928 SF office building on approximately 1 acre
- Built in the 1960s with concrete block exterior walls
- About 9 offices, vault, lobby, and separate men’s and women’s 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
$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
Property Profile
Current Use
Lease Details
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Former municipal office with multiple rooms, parking on three sides, and additional yard and storage areas.
Where is this office building located?
The property is located at 900 Moore Ave 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 approximately 1 acre; Built in the 1960s with concrete block exterior walls; About 9 offices, vault, lobby, and separate men’s and women’s bathrooms
