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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    228 Harris Ave San Angelo, TX 76903-5841

    • Office buildings
    • 2,059 SF
    • 0.59 lot acres
    OFF-MARKET
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2098769
    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

    • Gonzalo P Rios Jr Law Office / Attorney

    Property Details for 228 Harris Ave

    Year built
    1959
    Lot size
    0.59 lot acres
    Property size
    2,059 SF
    Property type
    Office buildings
    APN
    23-41700-0200-005-00
    APU
    2341700020000500

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $495,000
      6.5%
      $455,000
      7%
      $425,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $269,000
      Market price range: $162k - $562k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $335,000
      Current use
      AUTO REPAIR, GARAGE
      $275,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    San Angelo
    County
    Tom Green
    State
    Texas
    Longitude
    -100.442
    Latitude
    31.4628
    CBSA code
    41660
    CBSA name
    SAN ANGELO, 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
    2024
    $4,073
    $92,920
    $111,810
    $204,730
    -
    $92,920
    $111,810
    $204,730

    Comparable in this City

    • Value Estimation
      $255,000
      240 SF

      229 15th St

      OFFICE BUILDING • 240 SF
      229 15th St, San Angelo, TX 76903-4640
      View Details
    • Value Estimation
      $260,000
      528 SF

      601 Culwell St

      OFFICE BUILDING • 528 SF
      601 Culwell St, San Angelo, TX 76903-3208
      View Details
    • Value Estimation
      $265,000
      588 SF

      419 Ave C C

      OFFICE BUILDING • 588 SF
      419 Ave C C, San Angelo, TX 76903-6703
      View Details
    • Value Estimation
      $265,000
      675 SF

      612 Baze St

      OFFICE BUILDING • 675 SF
      612 Baze St, San Angelo, TX 76903
      View Details
    • Value Estimation
      $230,000
      891 SF

      116 Bell St

      OFFICE BUILDING • 891 SF
      116 Bell St, San Angelo, TX 76903-6104
      View Details
    • Value Estimation
      $265,000
      288 SF

      108 Bell St

      OFFICE BUILDING • 288 SF
      108 Bell St, San Angelo, TX 76903-6104
      View Details

    Similar Nearby for Sale

    • $549,000
      3,756 SF

      Remodeled Office with Fenced Storage

      Turnkey office space with warehouse and secure outdoor storage.
      3321 Foster St, San Angelo, TX 76903
      View Details
    • $510,000

      Historic Landmark Office Building

      Iconic 4,454 SF office building in Downtown San Angelo.
      233 W Twohig Ave, San Angelo, TX 76903
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    • $750,000
      15,851 SF

      Downtown San Angelo Commercial Property

      Prime commercial property in historic downtown San Angelo with owner financing.
      13 E Twohig Ave, San Angelo, TX 76903
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    • $425,000

      Historic San Angelo Office Building

      Historic office building in San Angelo with flexible space.
      128 S Magdalen St, San Angelo, TX 76903
      View Details
    • Sponsored
      $1,495,000
      6,000 SF

      1101 S Abe St

      Centrally Located Attractive Office Warehouse
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    • $460,000
      4,000 SF

      Remodeled Office Building with Yard

      Freestanding office building with a fenced yard and warehouse.
      3308 Foster St, San Angelo, TX 76903
      View Details

    Similar Nearby for Lease

    • $1,400 /Mo
      1,200 SF

      Turn Key Retail/Office Space

      Recently renovated retail/office space available for lease.
      1705 W Beauregard Ave, San Angelo, TX 76903
      View Details
    • $11 SF/Yr
      2,638 SF

      Downtown Office Suite Available

      Spacious office suite in a prime downtown location.
      17 S Chadbourne St, San Angelo, TX 76903
      View Details
    • $1,250 /Mo
      1,250 SF

      Downtown San Angelo Office Space

      Well-maintained office building with three offices and a breakroom.
      211 Irving St, San Angelo, TX 76903
      View Details
    • $16 SF/Yr
      2,524 SF

      Downtown San Angelo Office Suite

      Office suite with downtown views available for lease.
      36 W Beauregard Ave, San Angelo, TX 76903
      View Details
    • $19 SF/Yr
      1,962 SF

      Renovated Downtown Class A Office

      Completely renovated Class A office space in downtown San Angelo.
      16 N Chadbourne St, San Angelo, TX 76903
      View Details
    • $500 /Mo
      1,200 SF

      San Angelo Office Spaces For Lease

      Office spaces for lease in high traffic San Angelo location.
      716 3 & 4, San Angelo, TX 76903
      View Details
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    228 Harris Ave
    San Angelo, TX 76903-5841
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    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
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