Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 239-249 West Lachapelle in San Antonio, Texas. The subject property consists of approximately 16,095 square feet of warehouse space and is situated on 0.73 acres of land. The two-building asset features metal construction, a clear height of 16’, and six grade-level doors. Located along the joint highways of Interstate 10 and 35, the property is well-positioned within San Antonio’s Central Business District (CBD), with access to a dense population. For sale as vacant, the property is available for immediate owner use and is ideal for distribution. Delivered in 1966, the property can also be acquired as a value-add lease-up opportunity. The CBD is the original industrial hub of San Antonio, containing 3.7 million square feet. Due to a shortage of available space, demolitions and property conversions have reduced the industrial inventory in the CBD submarket by 13.6 percent since 2010, creating a premium for the existing industrial properties. In the 12 months through Q3 2025, the submarket experienced little activity with more than 11,000 square feet of industrial space absorbed on net. With no industrial properties delivered during that time, the vacancy rate bucked the national trend and fell by 30 basis points. At 5.4 percent, the vacancy rate in the CBD sat roughly 210 basis points lower than the 7.5 percent national average (based on the top 50 metros, classes A, B, & C, minimum 10,000 square feet). Year-over-year, rent growth increased by 2.5 percent, pushing the average market rent to about $12.50 per square foot, up 61.3 percent over the last decade. With no industrial properties under construction in the CBD for more than a decade, demand will continue to be in the driver’s seat of vacancies and rents (CoStar). Home to the Alamo and famous River Walk, San Antonio metro is the primary residence of 2.7 million people. San Antonio is the second most populous city in Texas behind Houston, housing more than 1.5 million residents. The local economy is anchored by the industries of healthcare, tourism, and national defense. An extensive transportation network provides shipping options to domestic and international markets. Additionally, the formation of the Eagle Ford Shale that runs through Atascosa and Wilson counties has cultivated a thriving energy sector. Valero Energy, one of the largest oil companies in the U.S., is headquartered in San Antonio. Major private employers include AT&T, Wells Fargo, USAA, and Toyota. San Antonio offers a high quality of life with a variety of entertainment including the NBA’s San Antonio Spurs, SeaWorld, and Six Flags.