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This exceptional 7,369-square-foot shopping center in San Antonio, Texas, presents a compelling investment opportunity. Located at 1524 E Grayson St, 78208, this multi-tenant retail property boasts a 100% occupancy rate with six diverse tenants, including a mix of service-oriented and internet-resistant businesses. The property, built in 1950 and extensively renovated in 2024, features a prime location near the Broadway Corridor and the Historic Pearl District, benefiting from significant foot traffic and proximity to Fort Sam Houston. Recent renovations exceeding $250,000 included new stucco, exterior paint, awnings, landscaping, parking lot, lighting, and fencing. The property enjoys a strong NOI of $231,167, resulting in a 6.60% cap rate at an asking price of $3,500,000 ($474.96/sq ft). The advantageous C-2 NA zoning, a grandfathered pylon sign, and on-site parking further enhance its value. The property's location benefits from the addition of 281 new apartment units in the nearby Residences at Grayson Heights, and a 100% city tax abatement starting in 2025. This stabilized investment, with leases primarily exceeding $30.00 per square foot, offers potential upside through rent increases and the possibility of subdividing a corner suite. The property's strong tenant mix, high visibility, and strategic location within a thriving area with over $100 million in annual retail sales within a one-mile radius, make it an attractive investment prospect.
Highlights
7,369-square-foot multi-tenant retail center in San Antonio's Government Hill, near the Broadway Corridor and Pearl District.
Benefits from proximity to 281 new apartment units at Residences at Grayson Heights and Fort Sam Houston.
Recently renovated with over $250,000 in improvements, including new stucco, paint, awnings, landscaping, parking lot, lighting, and fencing.
Strong tenant mix with 100% occupancy; six of seven leases exceed $30/SF. C-2 NA zoning and grandfathered pylon sign.
Significant upside potential: corner suite can be subdivided and leased at market rate ($35/SF).
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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