Investment Overview

Marcus & Millichap is pleased to present for sale, Starcrest Village, located at 2379 NE Loop 410 in San Antonio, Texas. This office property consists of five connected buildings totaling 20,105 square feet of leasable office space. Office suites in the property range from 359 square feet to 1,446 square feet, with an average suite size of 614 square feet, accommodating various small businesses and professionals looking for flexible office space. Currently, the property is 100 percent occupied, making it an income-generating asset with stability and tenant retention. All tenants operate under gross leases, providing investors with the benefit of predictable rental income, as the landlord handles most of the property's operational expenses. The offering includes 1.47 acres of vacant land situated directly behind the office building. The vacant lot is zoned the same as the main property, C-2 CD. C-2 districts can accommodate a variety of commercial activities, including repair shops, warehousing, and limited retail sales. C-2 districts also allow for outdoor dining. CD is a conditional use that can add additional conditions to a zoning district, such as building setbacks, lighting, or landscape buffers. San Antonio is the second-largest city in Texas and one of the dynamic economic and cultural hubs of South Texas. Known for its rich history, diverse population, and rapidly growing economy, the city is a key player in sectors such as healthcare, military, finance, and retail. San Antonio's office property sector has seen significant growth and expansion, driven by local businesses and major corporations seeking to capitalize on the city's economic opportunities. The Starcrest Village office property benefits from its excellent location along NE Loop 410, one of San Antonio's major highways. This location offers easy access to major retail centers and surrounding residential neighborhoods, making it convenient for tenants and their clients. San Antonio International Airport is less than four miles away, facilitating air travel for 10.7 million passengers annually. The property's proximity to major transportation routes also ensures connectivity to other key areas of the city, including Downtown San Antonio and the North Central business corridor. The property has recently undergone significant improvements, including $2.5 million in new construction and renovations. These updates have modernized the office spaces, enhancing the property's overall appeal to current and prospective tenants. One of the most compelling aspects of the Starcrest Village office property is its value-add potential. The current weighted average rental rate at the property is $13.34 per square foot, which is significantly below the market rental rate for comparable office properties in the San Antonio area. The market rental rate for office space in this submarket typically ranges from $17 to $23 per square foot, providing substantial upside for rental income growth through lease renegotiations or future tenant turnover.