Renovated Building with 850-Seat
For Sale
Contact for pricing
1278 N Loop 1604 E, San Antonio, TX 78232
30,000 SF building with high visibility on Loop 1604.
Property Size30,000 SF
Price / SF$330
Days on Market854
Property Features for 1278 N Loop 1604 E
General Information
Standard status
Active
Size
30,000 SF
Class
A
Property subtype
Retail, Office, Hospitality, Mixed Use, Special Purpose
Zoning
C-2, C-3
Building Details
Year Built
1977
Year Renovated
2019
Buildings
1
Stories
2
Units
1
Listing Agency:
DH Realty Partners
(210) 222-2424
Listed By:
Tiffany Hoover Trude · License #TX 797912
Source:
Crexi
Added: Apr 8, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:22AM
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 DH Realty Partners
Investment Insights
Based on property information with market context.
This 30,000 square foot building, constructed in 1977 and extensively renovated in 2019, features an 850-seat auditorium. The property, currently housing NorthRock Church, offers high visibility on Loop 1604 in the Stone Oak area. The building showcases a contemporary design with soaring ceilings and sophisticated finishes. It includes a professional stage, flexible office spaces, elevator access, and comprehensive amenities. This turnkey property is strategically positioned for diverse commercial opportunities in San Antonio’s premier retail corridor.
Key Highlights
- Prime 30,000 SF building with an 850‑seat auditorium.
- High visibility on Loop 1604 in affluent Stone Oak.
- Extensively renovated in 2019 with contemporary design and sophisticated finishes.
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
$408,866
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
4.13%
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%
$8,177,320
$8.2M
Cap Rate 7%
$5,840,943
$5.8M
Cap Rate 9%
$4,542,956
$4.5M
Market Conditions
NOI Build-Up for 30,000 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
$662.4K $22.08/SF
− Vacancy
−$117.2K −$3.91/SF
EGI
$545.2K $18.17/SF
− OpEx
−$136.3K −$4.54/SF
NOI
$408.9K $13.63/SF
Area
San Antonio, TX
Vacancy
17.70%
Lease Rate
$22.08 /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%
$8,177,320
Cap Rate 7%
$5,840,943
Cap Rate 9%
$4,542,956
Alternative Uses
Best Use
Office B
$5.84M
$5.11M – $6.81M
NOI $408,866 @ 7.0% cap · market cap 4.13%
Second Best
Retail
$5.74M
$5.02M – $6.69M
NOI $401,587 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$7.65M
$6.70M – $8.93M
NOI $535,674 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,343
Businesses Nearby
Explore this area
Business Placement
Demographics for 78232, TX
35,397
Population
16,369
Households
2.2
Avg Household Size
42
Median Age
50%
College-Educated
96%
High-School Grad
11.9 sq mi
ZIP Area
2,975
Density / Sq Mi
$84,633
Median Household Income
$48,586
Median Earnings
$1,404
Median Rent
$345,300
Median Home Value
Market
Vacancy Rate% for Office in San Antonio, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Church & religious facility - 30,000 SF building with high visibility on Loop 1604.
Where is this church & religious facility located?
The property is located at 1278 N Loop 1604 E San Antonio, TX.
What is the asking price?
The asking price for this property is $9,900,000.
What are key features of this property?
This property features: Prime 30,000 SF building with an **850‑seat auditorium**.; High visibility on Loop 1604 in affluent Stone Oak.; Extensively renovated in 2019 with contemporary design and sophisticated finishes.
