Accessible Office Building Near
For Sale
$265,000
937 Culebra Rd, San Antonio, TX 78201
Office building with exterior access and proximity to IH-10.
Property Size1,072 SF
Lot Size0.18 Acres
Price / SF$247.20
Days on Market235
Property Features for 937 Culebra Rd
General Information
Standard status
Active
Size
1,072 SF
Lot size
0.18 Acres
Taxes and HOA fees
Annual Taxes
$2.00
Listing Agency:
Phyllis Browning Company
(210) 824-7878
Listed By:
Sarah Olivares · License #726158
(210) 824-7878
Source:
Exprealty
Added: Jan 1
Changed: Aug 23
Last Checked: Aug 22 at 11:31AM
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 Phyllis Browning Company
Investment Insights
Based on property information with market context.
This office building is situated on a 0.18-acre lot and offers storage space and functionality. The property contains 4 offices, all with exterior access, providing the option for separate suites. Located a quarter mile from IH-10, the building provides accessibility for clients and employees. The location is less than 10 minutes from downtown.
Key Highlights
- Excellent location: Just a quarter mile from IH‑10 and less than 10 minutes from downtown.
- Substantial storage space.
- Four offices with exterior access, allowing for separate suites.
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
$14,610
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
5.51%
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%
$292,200
$292.2K
Cap Rate 7%
$208,714
$208.7K
Cap Rate 9%
$162,333
$162.3K
Market Conditions
NOI Build-Up for 1,072 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
$23.7K $22.08/SF
− Vacancy
−$4.2K −$3.91/SF
EGI
$19.5K $18.17/SF
− OpEx
−$4.9K −$4.54/SF
NOI
$14.6K $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%
$292,200
Cap Rate 7%
$208,714
Cap Rate 9%
$162,333
Alternative Uses
Best Use
Office B
$208.7K
$182.6K – $243.5K
NOI $14,610 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$273.4K
$239.3K – $319.0K
NOI $19,141 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Explore this area
Business Placement
Demographics for 78201, TX
42,005
Population
18,661
Households
2.3
Avg Household Size
39
Median Age
17%
College-Educated
73%
High-School Grad
7.1 sq mi
ZIP Area
5,916
Density / Sq Mi
$46,129
Median Household Income
$30,517
Median Earnings
$1,033
Median Rent
$187,400
Median Home Value
Market
Vacancy Rate% for Office in San Antonio, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building with exterior access and proximity to IH-10.
Where is this office building located?
The property is located at 937 Culebra Rd San Antonio, TX.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Excellent location: Just a quarter mile from IH‑10 and less than 10 minutes from downtown.; Substantial storage space.; Four offices with exterior access, allowing for separate suites.
