2310 Military DrSan Antonio, TX 78224

For Sale
$9,041,400

High-performing retail investment, strong lease

Overview

Added:
Dec 11, 2024
Days on market:
95
This exceptional investment opportunity features a 50,230-square-foot Dick's Sporting Goods store in San Antonio, Texas, situated within the 783,978-square-foot South Park Mall. The property boasts a strong 7.50% cap rate and a Net Lease with approximately 5.1 years remaining on the current term, extending to January 31, 2030, with three 5-year renewal options at a $0.50 per square foot increase each. The store enjoys excellent visibility and access on SW Military Drive (41,370 vehicles per day) and proximity to I-35 (71,108 vehicles per day), providing easy access to downtown San Antonio. This location is a top performer, ranking among the top 33% of Dick's Sporting Goods stores nationwide and the top 39% in Texas based on visitor data. The South Park Mall, which includes major retailers like Macy's and JCPenney, also shows strong performance, ranking among the top 4% of shopping centers nationwide. The property's strong tenant, long lease term, and prime location make it an attractive investment opportunity with a Net Operating Income (NOI) of $678,105. The building was constructed in 1974 and is currently 100% occupied. The asking price is $9,041,400.

Highlights

  • $9,041,400 asking price for a 50,230 SF Dick's Sporting Goods storefront in San Antonio, TX.
  • 7.50% cap rate with a Net Lease, single-tenant occupancy.
  • 15.6-year lease term, with 5.1 years remaining and three 5-year renewal options; $0.50 PSF rent increase in each option.
  • Located in a high-traffic area with excellent visibility and access to major roadways, including I-35.
  • Anchors a 783,978 SF shopping center, South Park Mall, alongside other major retailers.

Property Details for 2310 Military Dr

Property type
Other retail properties, Individual retail properties
Square Feet
50,230 SF
Year Built
1974
Buildings
1

Location Insight

City
San Antonio
County
Bexar
State
Texas
Latitude
29.3551574
Longitude
-98.5302367
2310 Military Dr, San Antonio, Texas

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2310 Military Dr
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