Government Hill Development
For Sale
Contact for pricing
1622 N Pine St, San Antonio, TX 78208
Prime 0.37-acre development site in Government Hill, San Antonio.
Property Size1,031 SF
Lot Size0.37 Acres
Price / SF$339.48
Days on Market688
Property Features for 1622 N Pine St
General Information
Standard status
Active
Size
1,031 SF
Lot size
0.37 Acres
Property subtype
Mixed Use, Multifamily, Special Purpose
Zoning
R-6
Investment Type
Redevelopment
Listing Agency:
KW Commercial San Antonio City-view
(210) 388-2263
Listed By:
Adriana Rodriguez · License #TX 703275
Source:
Crexi
Added: Oct 12, 2024
Changed: Aug 8
Last Checked: Aug 29 at 12:57PM
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 San Antonio City-view
Investment Insights
Based on property information with market context.
Located in the Government Hill area of San Antonio, this property presents an investment opportunity with a 1,031 square foot structure situated on a 0.37-acre lot. The property is zoned R-6, offering potential for residential or mixed-use development. The site benefits from high visibility and is located near I-35. The surrounding area features a community of multi-family and investment properties. The property may be suitable for projects ranging from apartment buildings to single-family rental portfolios. A tenant is currently in place. The property qualifies for a City Initiated Tax Increment Reinvestment Zone (TIRZ) 11 – ‘Inner City’.
Key Highlights
- Prime development site in the heart of Government Hill.
- Zoned R‑6, offering versatile potential for residential or mixed‑use development.
- High‑visibility location steps from I‑35.
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
$13,223
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
3.78%
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%
$264,460
$264.5K
Cap Rate 7%
$188,900
$188.9K
Cap Rate 9%
$146,922
$146.9K
Market Conditions
NOI Build-Up for 1,031 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
$23.5K $22.80/SF
− Vacancy
−$2.4K −$2.28/SF
EGI
$21.2K $20.52/SF
− OpEx
−$7.9K −$7.70/SF
NOI
$13.2K $12.83/SF
Area
San Antonio, TX
Vacancy
10.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
37.50%
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%
$264,460
Cap Rate 7%
$188,900
Cap Rate 9%
$146,922
Alternative Uses
Best Use
Mixed Use
$188.9K
$165.3K – $220.4K
NOI $13,223 @ 7.0% cap · market cap 3.78%
Second Best
Apartment 5plus
$150.4K
$131.6K – $175.5K
NOI $10,531 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$263.0K
$230.1K – $306.8K
NOI $18,409 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,030
Businesses Nearby
Explore this area
Business Placement
Demographics for 78208, TX
3,874
Population
2,292
Households
1.7
Avg Household Size
35
Median Age
13%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
3,874
Density / Sq Mi
$23,194
Median Household Income
$26,136
Median Earnings
$894
Median Rent
$125,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Prime 0.37-acre development site in Government Hill, San Antonio.
Where is this mixed-use property located?
The property is located at 1622 N Pine St San Antonio, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Prime development site in the heart of Government Hill.; Zoned R‑6, offering versatile potential for residential or mixed‑use development.; High‑visibility location steps from I‑35.
