Corner Lot Near Downtown
For Sale
Contact for pricing
1407 N Wheeler St, Victoria, TX 77901
Commercial property on 0.30-acre lot with versatile layout.
Property Size2,420 SF
Lot Size0.30 Acres
Price / SF$85.90
Days on Market664
Property Features for 1407 N Wheeler St
General Information
Standard status
Active
Size
2,420 SF
Lot size
0.30 Acres
Property subtype
Retail, Office, Hospitality, Mixed Use, Special Purpose
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
1945
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Cornerstone Properties
(361) 333-2002
Listed By:
Brian Ferguson · License #TX 577155
Source:
Crexi
Added: Nov 6, 2024
Changed: Aug 31
Last Checked: Aug 31 at 3:52AM
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 Cornerstone Properties
Investment Insights
Based on property information with market context.
Located near downtown Victoria, this commercial property is situated on a 0.30-acre corner lot. The property features a lobby, 8 rooms suitable for office or special use, and 2 full bathrooms. It is positioned between North Navarro and North Main Street, offering high visibility and convenient access. Ample parking is available. This property offers an opportunity for businesses seeking a convenient location.
Key Highlights
- Prime 0.30‑acre corner lot location near downtown Victoria.
- High‑traffic location between North Navarro and North Main Street.
- Ample parking for clients and staff.
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
$16,451
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
7.91%
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%
$329,020
$329.0K
Cap Rate 7%
$235,014
$235.0K
Cap Rate 9%
$182,789
$182.8K
Market Conditions
NOI Build-Up for 2,420 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
$29.9K $12.36/SF
− Vacancy
−$3.6K −$1.48/SF
EGI
$26.3K $10.88/SF
− OpEx
−$9.9K −$4.08/SF
NOI
$16.5K $6.80/SF
Area
Victoria County, TX
Vacancy
12.00%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
37.50%
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%
$329,020
Cap Rate 7%
$235,014
Cap Rate 9%
$182,789
Alternative Uses
Best Use
Mixed Use
$235.0K
$205.6K – $274.2K
NOI $16,451 @ 7.0% cap · market cap 7.91%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$26.59M
$23.26M – $31.02M
NOI $1,861,036 @ 7.0% cap · market cap 895.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,232
Businesses Nearby
Explore this area
Business Placement
Demographics for 77901, TX
40,062
Population
17,438
Households
2.3
Avg Household Size
35
Median Age
15%
College-Educated
76%
High-School Grad
18.1 sq mi
ZIP Area
2,213
Density / Sq Mi
$57,728
Median Household Income
$33,127
Median Earnings
$1,105
Median Rent
$133,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial property on 0.30-acre lot with versatile layout.
Where is this mixed-use property located?
The property is located at 1407 N Wheeler St Victoria, TX.
What is the asking price?
The asking price for this property is $207,885.
What are key features of this property?
This property features: Prime 0.30‑acre corner lot location near downtown Victoria.; High‑traffic location between North Navarro and North Main Street.; Ample parking for clients and staff.
