San Antonio Investment
For Sale
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1402 Hoefgen Ave, San Antonio, TX 78210
2.03 acre property near downtown San Antonio for sale.
Property Size12,950 SF
Lot Size2.03 Acres
Price / SF$154.44
Days on Market1014
Property Features for 1402 Hoefgen Ave
General Information
Standard status
Active
Size
12,950 SF
Class
C
Lot size
2.03 Acres
Property subtype
Industrial
Zoning
I-1
Occupancy
48%
Lease Type
NNN
Investment Type
Value Add
Building Details
Year Built
1965
Year Renovated
2023
Buildings
3
Stories
1
Tenancy
Multi
Listing Agency:
Centro Properties
(210) 268-9880
Listed By:
Collin Newton · License #763425
Source:
Crexi
Added: Oct 31, 2023
Changed: Aug 8
Last Checked: May 12 at 11:31PM
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 Centro Properties
Investment Insights
Based on property information with market context.
The property at 1402 Hoefgen is a 2.03-acre site situated a short distance east of U.S. 281 and 1.5 miles southeast of Downtown San Antonio. The site contains approximately 13,000 square feet of net rentable area distributed across three buildings: one office building and two warehouses. Additional features include covered parking and 5,375 square feet of covered storage. Recent capital improvements include new base for the yard, painting of the buildings, office upgrades, and landscaping. The property offers the opportunity to purchase with stabilized in-place cash flow. It is located near downtown San Antonio, Hemisfair, Southtown, and less than a mile from the reported future home of the San Antonio Spurs. The location may benefit from dynamic changes taking place nearby.
Key Highlights
- 2.03 Acre property proximate to downtown San Antonio, Hemisfair, and Southtown.
- Approximately 13,000 SF of net rentable area across three buildings (office and warehouses).
- Stabilized in‑place cash flow for investors.
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
$89,953
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
4.50%
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%
$1,799,060
$1.8M
Cap Rate 7%
$1,285,043
$1.3M
Cap Rate 9%
$999,478
$999.5K
Market Conditions
NOI Build-Up for 12,950 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
$116.6K $9.00/SF
− Vacancy
−$10.7K −$0.83/SF
EGI
$105.8K $8.17/SF
− OpEx
−$15.9K −$1.23/SF
NOI
$90.0K $6.95/SF
Area
San Antonio, TX
Vacancy
9.20%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$1,799,060
Cap Rate 7%
$1,285,043
Cap Rate 9%
$999,478
Alternative Uses
Best Use
Warehouse
$1.29M
$1.12M – $1.50M
NOI $89,953 @ 7.0% cap · market cap 4.50%
Second Best
Industrial
$1.06M
$926.0K – $1.23M
NOI $74,079 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $231,233 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78210, TX
33,010
Population
14,410
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
76%
High-School Grad
7.3 sq mi
ZIP Area
4,522
Density / Sq Mi
$51,990
Median Household Income
$33,271
Median Earnings
$1,119
Median Rent
$172,700
Median Home Value
Market
Vacancy Rate% for Industrial in San Antonio, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 2.03 acre property near downtown San Antonio for sale.
Where is this flex space located?
The property is located at 1402 Hoefgen Ave San Antonio, TX.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 2.03 Acre property proximate to downtown San Antonio, Hemisfair, and Southtown.; Approximately 13,000 SF of net rentable area across three buildings (office and warehouses).; Stabilized in‑place cash flow for investors.
