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    Multifamily Complex Near TAMU Shuttle Title is generated by Realmo AI

    903 Balcones Drive, College Station, TX 77845

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    For Sale
    $2,200,000

    COMMERCIAL - College Station, TX

    Property size:
    15,360 SF
    Lot size:
    0.96 Acres
    Price / SF:
    $143/SF
    Added:
    Oct 12, 2025
    Days on Market:
    234
    Last Refresh:
    Jun 2 at 4:06 am

    Property Features for 903 Balcones Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C10
    Standard status
    Active
    APN
    903 Balcones C10
    Size
    15,360 SF
    Lot size
    0.96 Acres

    Building Details

    Year built
    2014
    Flooring type
    Tile, Carpet
    Roof type
    Composition, Shingle

    We can help!

    Listing Contact
    Linda Praytor
    Linda Praytor

    Listing agent Linda Praytor License #0310815

    Listing office Town & Country Realty 7005 Rock Prairie Rd, College Station, TX

    Listing date Oct 12, 2025

    MLS# 25010341

    Copyright © 2026 Bryan-College Station Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 100% Occupancy with strong rental history and reliable, long‑term tenants, ensuring immediate and consistent cash flow.
    • Prime location just off the TAMU Shuttle Route, offering unbeatable proximity to campus, shopping, and dining.
    • High‑yield investment in a stable rental market with exceptional income stability and future appreciation potential.
    • Spacious 1,200 sq. ft. units with modern layouts designed for tenant comfort and satisfaction.
    • Low‑maintenance property with minimal turnover, making it a turn‑key asset.
    • On‑site office, ideal for management or conversion to an additional income‑producing unit.

    Overview

    This well-maintained 12-unit multifamily complex is located just off the TAMU Shuttle Route, offering proximity to campus, shopping, and dining. Each unit features 1,200 sq. ft. layouts. The property includes an on-site office, suitable for management or conversion to an additional income-producing unit. Currently at 100% occupancy, the units rent for $1,200 per month, resulting in a gross annual income of $163,800.00. The property benefits from a history of reliable, long-term tenants. Situated in College Station, Texas, the property is positioned within a stable rental market driven by TAMU student demand and workforce housing needs. The property, zoned C10, sits on a 0.96-acre lot. The property's size is 15,360 square feet.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $282.0k $18.36
    − Vacancy −$14.1k −$0.92
    EGI $267.9k $17.44
    − OpEx −$120.6k −$7.85
    NOI $147.4k $9.59
    15,360 SF · lease $18.36/SF/yr · vacancy 5.00% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $2.11M
    $1.84M – $2.46M (±1% cap)
    NOI $147,350 @ 7.0% cap · market cap 6.70%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $3.78M
    $3.31M – $4.41M (±1% cap)
    NOI $264,757 @ 7.0% cap · market cap 12.03%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    College Station
    County
    Brazos
    State
    Texas
    Longitude
    -96.313284
    Latitude
    30.589171

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 12-unit multifamily complex near campus.
    Where is this apartment building located?
    The property is located at 903 Balcones Drive College Station, TX.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: 100% Occupancy with strong rental history and reliable, long‑term tenants, ensuring immediate and consistent cash flow.; Prime location just off the TAMU Shuttle Route, offering unbeatable proximity to campus, shopping, and dining.; High‑yield investment in a stable rental market with exceptional income stability and future appreciation potential.
    (979) 229-6000
    We can help!
    Listing Contact
    Linda Praytor
    Linda Praytor
    Real Estate License ID: 0310815
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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