Flex Space with
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926 Jody Ln, San Angelo, TX 76904
Flexible office and industrial property with a secured yard, overhead doors, and climate-controlled workspace.
Property Size6,140 SF
Lot Size0.95 Acres
Price / SF$61.89
Days on Market154
Property Features for 926 Jody Ln
General Information
Standard status
Active
Size
6,140 SF
Class
B
Lot size
0.95 Acres
Property subtype
Industrial
Zoning
ML
Lease Type
Gross
Investment Type
Owner/User
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
12.8 ft
Office Build-Out
1,000 SF
Three-Phase Power
Yes
Conditioned Warehouse
Yes
Building Details
Year Built
2002
Buildings
3
Tenancy
Single
Listing Agency:
Steve Eustis Co Reators
(915) 942-6533
Listed By:
Brandon Sanders · License #TX 506516
Source:
Crexi
Added: Apr 1
Changed: Aug 30
Last Checked: Aug 31 at 5:41AM
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 Steve Eustis Co Reators
Investment Insights
Based on property information with market context.
This flex property combines finished office space with warehouse and support improvements across approximately 0.95 acres. The main building contains approximately 4,990 sqft, including ±1,000 sqft of office area with a reception space, private office, two restrooms, 2’x4’ grid ceiling, and VCT flooring. Two warehouse sections measure approximately 40’ x 49’ each and feature 12.8-foot center height and 10-foot-wide by 11.5-foot-tall overhead doors.
The rear warehouse area has central heat and air, a ½-ton crane, and three-phase electricity. Additional improvements include a 12’ x 28’ air compressor room, a 2,000 sqft covered storage canopy, and a separate 40’ x 20’ storage warehouse with 12.8-foot height, a 10-foot overhead door, and electrical service. The fully fenced and gated yard has a solid base, while the property is served by septic and carries ML zoning.
The rear warehouse area has central heat and air, a ½-ton crane, and three-phase electricity. Additional improvements include a 12’ x 28’ air compressor room, a 2,000 sqft covered storage canopy, and a separate 40’ x 20’ storage warehouse with 12.8-foot height, a 10-foot overhead door, and electrical service. The fully fenced and gated yard has a solid base, while the property is served by septic and carries ML zoning.
Key Highlights
- Approximately 4,990 sqft main building with ±1,000 sqft of finished office space
- Two warehouse sections, each approximately 40’ x 49’ with 12.8‑foot center height
- 10‑foot‑wide by 11.5‑foot‑tall overhead doors serving both main warehouse sections
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
$31,619
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
8.32%
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%
$632,380
$632.4K
Cap Rate 7%
$451,700
$451.7K
Cap Rate 9%
$351,322
$351.3K
Market Conditions
NOI Build-Up for 6,140 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
$49.4K $8.04/SF
− Vacancy
−$4.2K −$0.68/SF
EGI
$45.2K $7.36/SF
− OpEx
−$13.6K −$2.21/SF
NOI
$31.6K $5.15/SF
Area
Tom Green County, TX
Vacancy
8.50%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
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%
$632,380
Cap Rate 7%
$451,700
Cap Rate 9%
$351,322
Alternative Uses
Best Use
Office B
$1.18M
$1.04M – $1.38M
NOI $82,890 @ 7.0% cap · market cap 21.81%
Second Best
Flex RnD
$626.0K
$547.8K – $730.4K
NOI $43,821 @ 7.0% cap · market cap 11.53%
Theoretical Best
Multifamily LT 5
$4.70M
$4.11M – $5.48M
NOI $329,014 @ 7.0% cap · market cap 86.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 76904, TX
36,736
Population
16,812
Households
2.2
Avg Household Size
37
Median Age
35%
College-Educated
95%
High-School Grad
440.8 sq mi
ZIP Area
83
Density / Sq Mi
$79,617
Median Household Income
$45,768
Median Earnings
$1,119
Median Rent
$266,800
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?
Flex space - Flexible office and industrial property with a secured yard, overhead doors, and climate-controlled workspace.
Where is this flex space located?
The property is located at 926 Jody Ln San Angelo, TX.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Approximately 4,990 sqft main building with ±1,000 sqft of finished office space; Two warehouse sections, each approximately 40’ x 49’ with 12.8‑foot center height; 10‑foot‑wide by 11.5‑foot‑tall overhead doors serving both main warehouse sections
