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Office Medical

Auction - Institutional Sale | Rosa Verde Tower and Parking Deck | 141,631 SF

343 W Houston St, San Antonio, TX 78205

Listing Price: $1,250,000

Gross SF
141,631
Rentable SF
141,631
Price/Gross SF
$8.83
Occupancy
15.0%
Year Built
1972
Lot Size
2.79 acres

Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace Marcus & Millichap and RI Marketplace are pleased to offer for sale the leasehold interest in Rosa Verde Towers (the “Property”), a ±141,631 Class A building located at 343 W Houston Street in San Antonio, Texas. The Property provides the exceptional opportunity to acquire a highly visible investment property with significant value-add opportunity. Constructed in 1972, Rosa Verde Towers is a Class A building situated on The Children’s Hospital of San Antonio campus in the heart of downtown San Antonio. The Property consists of 141,631 rentable square feet spread across 11 floors. The Property boasts a fully renovated lobby, elevators, and common areas. Recent capital improvements include HVAC, roof, exterior lighting, elevator modernization, and new parking control equipment. Building amenities include on-site property management, security, a bank, and an on-site pharmacy. Excellent walkable amenities include San Pedro Creek, Milam Park, and Historic Market Square. The location offers great visibility, easy ingress and egress, abundant multi-level parking for tenant staff, and surface parking for patients. The ground lease was structured in 2001 as a 100-year leasehold interest (50-year initial term with (5) 10-year renewal options); there are 78 years remaining on the ground lease. San Antonio remains one of the nation’s most stable office markets, as demonstrated by its long-term growth and tight occupancy rate. Home to the Alamo and famous River Walk, the San Antonio metro is located in the southern portion of central Texas and straddles the Interstate 35 Corridor, one of the fastest-growing areas in the state. Situated only 160 miles from Nuevo Laredo, Mexico, San Antonio is an easy drive on I-35 from the border and serves as a major gateway between the United States and Mexico. The area is further enhanced by an extensive transportation network that provides shipping options to domestic and international markets, as well as the Eagle Ford Shale formation that runs through Atascosa and Wilson counties. As of 2022, the Property’s demographics have ±416,220 individuals residing within a five-mile radius, with an average household income of ±$58,226. The Property is located within a high growth area with population growth of 12.8 percent from 2010-2022 and an anticipated 7.13 percent growth expected from 2022-2027 within five miles of the Property.

Investment Highlights

  • STARTING BID $1,250,000 | 141,631 SF | AUCTION APRIL 17-19, 2023
  • 100 Percent Leasehold Interest in a Prime Downtown San Antonio 10-Story Office Building and Parking Deck on 2.79 Acres
  • State-of-the-Art Facility Ideally Situated with Immediate Access to I-10, I-35, and I-410
  • Recent CapEx includes HVAC, Roof, Exterior Lighting, Elevator Modernization, and More
  • Amenities include Covered Garage for Staff/Patients, On-Site Pharmacy, and Bank | Located in a Designated Federal Opportunity Zone
  • Attractive Demographics with 5-Mile Population of ±416,220 and Annual Household Income of ±$58,226
  • Tremendous 12.8% Population Growth from 2010-2022 and Future Double-Digit Growth Anticipated (5-Mile Radius)

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Office Medical

Auction - Institutional Sale | Rosa Verde Tower and Parking Deck | 141,631 SF

Listing Price: $1,250,000

Gross SF
141,631
Rentable SF
141,631
Price/Gross SF
$8.83
Occupancy
15.0%
Year Built
1972
Lot Size
2.79 acres

Investment Highlights

  • STARTING BID $1,250,000 | 141,631 SF | AUCTION APRIL 17-19, 2023
  • 100 Percent Leasehold Interest in a Prime Downtown San Antonio 10-Story Office Building and Parking Deck on 2.79 Acres
  • State-of-the-Art Facility Ideally Situated with Immediate Access to I-10, I-35, and I-410
  • Recent CapEx includes HVAC, Roof, Exterior Lighting, Elevator Modernization, and More
  • Amenities include Covered Garage for Staff/Patients, On-Site Pharmacy, and Bank | Located in a Designated Federal Opportunity Zone
  • Attractive Demographics with 5-Mile Population of ±416,220 and Annual Household Income of ±$58,226
  • Tremendous 12.8% Population Growth from 2010-2022 and Future Double-Digit Growth Anticipated (5-Mile Radius)

Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace Marcus & Millichap and RI Marketplace are pleased to offer for sale the leasehold interest in Rosa Verde Towers (the “Property”), a ±141,631 Class A building located at 343 W Houston Street in San Antonio, Texas. The Property provides the exceptional opportunity to acquire a highly visible investment property with significant value-add opportunity. Constructed in 1972, Rosa Verde Towers is a Class A building situated on The Children’s Hospital of San Antonio campus in the heart of downtown San Antonio. The Property consists of 141,631 rentable square feet spread across 11 floors. The Property boasts a fully renovated lobby, elevators, and common areas. Recent capital improvements include HVAC, roof, exterior lighting, elevator modernization, and new parking control equipment. Building amenities include on-site property management, security, a bank, and an on-site pharmacy. Excellent walkable amenities include San Pedro Creek, Milam Park, and Historic Market Square. The location offers great visibility, easy ingress and egress, abundant multi-level parking for tenant staff, and surface parking for patients. The ground lease was structured in 2001 as a 100-year leasehold interest (50-year initial term with (5) 10-year renewal options); there are 78 years remaining on the ground lease. San Antonio remains one of the nation’s most stable office markets, as demonstrated by its long-term growth and tight occupancy rate. Home to the Alamo and famous River Walk, the San Antonio metro is located in the southern portion of central Texas and straddles the Interstate 35 Corridor, one of the fastest-growing areas in the state. Situated only 160 miles from Nuevo Laredo, Mexico, San Antonio is an easy drive on I-35 from the border and serves as a major gateway between the United States and Mexico. The area is further enhanced by an extensive transportation network that provides shipping options to domestic and international markets, as well as the Eagle Ford Shale formation that runs through Atascosa and Wilson counties. As of 2022, the Property’s demographics have ±416,220 individuals residing within a five-mile radius, with an average household income of ±$58,226. The Property is located within a high growth area with population growth of 12.8 percent from 2010-2022 and an anticipated 7.13 percent growth expected from 2022-2027 within five miles of the Property.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

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