Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1891 Medical Pkwy San Marcos, TX 78666-7559

    • Commercial real estate
    • 11,968 SF
    • 3.05 lot acres
    OFF-MARKET
    Last Sale
    Dec 04, 2023
    Value Estimations
    $1,515,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-1787409
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • San Marcos Surgery Center / Medical Clinic / Hospital

    Property Details for 1891 Medical Pkwy

    Year built
    2010
    Lot size
    3.05 lot acres
    Property size
    11,968 SF
    Property type
    Commercial real estate
    APN
    R91307
    APU
    R91307

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,418,000
      Market price range: $638k - $2.92M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,865,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Marcos
    County
    Hays
    State
    Texas
    Longitude
    -97.9445
    Latitude
    29.8541
    CBSA code
    12420
    CBSA name
    AUSTIN-ROUND ROCK, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $39,942
    $984,480
    $1,220,520
    $2,205,000
    -
    $984,480
    $1,220,520
    $2,205,000

    Comparable in this City

    • Value Estimation by Request
      1.93 Acres

      1322 Frontage Rd

      Land • 1.93 Acres
      1322 Frontage Rd, San Marcos, TX 78666
      View Details
    • Value Estimation by Request
      96.35 Acres

      5340 Dreibrodt Rd

      Land • 96.35 Acres
      5340 Dreibrodt Rd, San Marcos, TX 78666
      View Details
    • Value Estimation by Request
      0.44 Acres

      1007 State Hwy 123

      COMMERCIAL (GENERAL) • 0.44 Acres
      1007 State Hwy 123, San Marcos, TX 78666-7733
      View Details
    • Value Estimation by Request
      1.01 Acres

      233 Wonder World Dr

      COMMERCIAL (GENERAL) • 1.01 Acres
      233 Wonder World Dr, San Marcos, TX 78666-5911
      View Details
    • Value Estimation by Request
      0.08 Acres

      12 Old Rnch Rd

      COMMERCIAL (GENERAL) • 0.08 Acres
      12 Old Rnch Rd, San Marcos, TX 78666
      View Details
    • Value Estimation by Request
      3.84 Acres

      San Marcos, TX 78666

      COMMERCIAL (GENERAL) • 3.84 Acres
      San Marcos, TX 78666
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.00 Acre

      San Marcos Commercial Land - 1 Acre

      High-visibility corner lot, ideal for development.
      4558 Frontage Rd, San Marcos, TX 78666
      View Details
    • $819,900

      Prime 10+ Acre San Marcos Land

      Unzoned, unrestricted commercial land; high visibility.
      0 Harris Hill Rd, San Marcos, TX 78666
      View Details
    • $2,250,000
      3.04 Acres

      2030 Frontage Rd

      Land • 3.04 Acres
      2030 Frontage Rd, San Marcos, TX 78666
      View Details
    • Contact for pricing
      4.75 Acres

      Prime San Marcos Commercial Land

      4.75 Acres, High Visibility Location
      0 Old Bastrop Rd, San Marcos, TX 78666
      View Details
    • $770,140
      1.36 Acres

      Center Point Court Land

      Prime San Marcos Commercial Land
      1405 Center Point Rd, San Marcos, TX 78666
      View Details
    • $5,654,088
      44.00 Acres

      Prime 44-Acre Commercial Land

      San Marcos, TX development opportunity. Highway 123 frontage.
      401 Haven Crest Ln, San Marcos, TX 78666
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      266,575 SF

      MidPointe Logistics Center: San Marcos, TX

      Class A Warehouse, 266,575 SF, Immediate Occupancy
      0 Wassar Blvd, San Marcos, TX 78666
      View Details
    • $1,395 /Mo

      San Marcos Condominium For Rent

      Condominium built in 2009 with two bedrooms and bathrooms.
      130 Rush Hvn, San Marcos, TX 78666
      View Details
    • $1,575 /Mo
      1,175 SF

      Country Living Retreat Near University

      Tranquil duplex near Texas State University with pond and amenities.
      701 Horace Howard Dr, San Marcos, TX 78666
      View Details
    • $1,406 /Mo
      4,814 SF

      San Marcos Commercial Suites Available

      Versatile commercial suites for lease in central San Marcos.
      715 W Hopkins St, San Marcos, TX 78666
      View Details
    • $19 SF/Yr
      12,325 SF

      Prime Commercial Spaces Near University

      Versatile commercial spaces available for lease near Texas State University.
      1224 N State Highway 123, San Marcos, TX 78666
      View Details
    • $1,406 /Mo
      4,814 SF

      Versatile Suites in San Marcos

      Commercial property with suites suitable for retail, office, or medical.
      715 W Hopkins St, San Marcos, TX 78666
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1891 Medical Pkwy
    San Marcos, TX 78666-7559
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.