122 StSan Antonio, TX 78228

For Sale
$6,500,000

15,000 SF, 6% Cap Rate, Net Lease

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 15,003 square foot retail property in San Antonio, Texas, presents a compelling investment opportunity. Built in 2023, the property boasts a new, 10-year net lease (NN+) to Humana, a Fortune 500 company, with built-in rent increases. The single-tenant building houses a Conviva Care Center and is strategically located near the intersection of St. Cloud Road and State Highway Spur 421/Bandera Road, benefiting from a combined daily traffic count exceeding 37,000 vehicles. Its prime location within a thriving retail corridor, alongside established businesses like Walmart, McDonald's, and Wells Fargo, ensures high visibility and accessibility. The property's proximity to major transportation arteries, Interstates 10 and 410, further enhances its appeal. The 2.93-acre lot offers ample parking and multiple access points. The property's strong tenant, robust community, and favorable market conditions, including a five-mile population of 355,410 and proximity to Downtown San Antonio, contribute to a compelling 6.00% cap rate and a Net Operating Income (NOI) of $390,000. This is a 1031 exchange-eligible property, offering significant advantages for investors. The asking price is $6,500,000. The lease commenced July 1, 2023, and expires June 30, 2033. This investment offers a secure, high-return opportunity in a rapidly growing market.

Highlights

  • $6,500,000 asking price for a 15,003 SF retail storefront.
  • Net lease investment with a 6.00% cap rate and $390,000 NOI.
  • 10-year lease to Humana subsidiary, Conviva Care Center, commencing July 1, 2023, with rent bumps.
  • Located in San Antonio, TX (78228) on a 2.93-acre lot, in a high-traffic area with excellent visibility.
  • Strong tenant (Humana subsidiary) in a thriving retail corridor near major transportation arteries and educational institutions.

Property Details for 122 St

Property type
Other retail properties, Individual retail properties
Square Feet
15,003 SF
Year Built
2023
Lot Size (sq. ft)
127,631 SF

Location Insight

City
San Antonio
County
Bexar
State
Texas
Latitude
29.455122
Longitude
-98.5501356
122 St, San Antonio, Texas

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122 St
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