Net Leased FedEx Distribution
For Sale
Contact for pricing
949 Gateway Dr, San Angelo, TX 76905
47,701 SF distribution center for sale.
Property Size47,701 SF
Price / SF$119.49
Days on Market167
Property Features for 949 Gateway Dr
General Information
Standard status
Active
Size
47,701 SF
Property subtype
Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$393,077
Building Details
Year Built
2016
Tenancy
Single
Listing Agency:
Capital Real Estate Commercial
Listed By:
Troup Rolland · License #TX
Source:
Crexi
Added: Mar 10
Changed: Aug 15
Last Checked: Aug 22 at 6:59AM
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 Capital Real Estate Commercial
Investment Insights
Based on property information with market context.
This property is a 47,701 square foot distribution center. It is being offered for sale as a net leased deal with FedEx.
Key Highlights
- FedEx Net Leased Deal
- Year Built: 2016
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
$298,280
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
5.23%
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%
$5,965,600
$6.0M
Cap Rate 7%
$4,261,143
$4.3M
Cap Rate 9%
$3,314,222
$3.3M
Market Conditions
NOI Build-Up for 47,701 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
$383.5K $8.04/SF
− Vacancy
−$32.6K −$0.68/SF
EGI
$350.9K $7.36/SF
− OpEx
−$52.6K −$1.10/SF
NOI
$298.3K $6.25/SF
Area
Tom Green County, TX
Vacancy
8.50%
Lease Rate
$8.04 /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%
$5,965,600
Cap Rate 7%
$4,261,143
Cap Rate 9%
$3,314,222
Alternative Uses
Best Use
Warehouse
$4.26M
$3.73M – $4.97M
NOI $298,280 @ 7.0% cap · market cap 5.23%
Second Best
Industrial
$3.51M
$3.07M – $4.09M
NOI $245,642 @ 7.0% cap · market cap 4.31%
Theoretical Best
Multifamily LT 5
$36.52M
$31.95M – $42.60M
NOI $2,556,071 @ 7.0% cap · market cap 44.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 76905, TX
13,635
Population
5,293
Households
2.6
Avg Household Size
34
Median Age
19%
College-Educated
86%
High-School Grad
183.5 sq mi
ZIP Area
74
Density / Sq Mi
$81,645
Median Household Income
$39,880
Median Earnings
$1,499
Median Rent
$146,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Distribution center - 47,701 SF distribution center for sale.
Where is this distribution center located?
The property is located at 949 Gateway Dr San Angelo, TX.
What is the asking price?
The asking price for this property is $5,700,000.
What are key features of this property?
This property features: FedEx Net Leased Deal; Year Built: 2016
