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Shopping Strip

Peninsula Center

1602 N Loop 1604 W, San Antonio, TX 78248

Listing Price: $6,392,000

Cap Rate
6.70%
Gross SF
20,040
Rentable SF
20,040
Price/Gross SF
$318.96
Lot Size
1.79 acres
Year Built
2006

Investment Overview

Peninsula Center is a 20,040-square foot, multi-tenant retail center located in San Antonio, Texas. The center is currently 97 percent occupied, and all leases are triple-net. Tenants consist of a complementary mix of retailers and service-oriented businesses, including Texas Leather Company, Premier Ballet Studio, To Bed mattress store, and San Antonio Sleep Centers. Constructed in 2006, the building is situated on a 1.79-acre lot with paved parking in the front and back of the building. Texas Leather Company and To Bed mattress store have front-facing entrances, while the remaining suites have rear access. The subject property is strategically located on the access road of North Loop 1604 West in between Interstate 10 and U.S. Highway 281 in a dense retail trade area, and benefits from high traffic counts of approximately 143,860 vehicles per day in front of the property. Numerous national and regional retailers are in close proximity to the property, including Lowe’s Home Improvement, H-E-B grocery store, Target, Whole Foods, L.A. Fitness, Golf Galaxy, Office Depot, Trader Joe’s, Panera Bread, Taco Cabana, Starbucks, and many others. This high growth area of North Central San Antonio has desirable demographics. The average household income is $139,588 within a one-mile radius; $121,232 within a three-mile radius; $101,036 within a five-mile radius, and serves a dense residential population of approximately 212,994 people.

Investment Highlights

  • Prime Freeway Location on North Loop 1604 West in a Dense Retail Trade Area | Extremely High Traffic Counts Exceeding 143,860 Vehicles Per Day
  • 20,040-Square Foot, Multi-Tenant Retail Center | 97% Occupied | All Leases are Triple-Net
  • Current Average Rents are Below Market | 76% of the Gross Leasable Area has Leases Expiring in 2022, Providing Upside Potential
  • Texas Leather Company and To Bed Mattress Store Have Front-Facing Entrances | Remaining Suites Enter from the Rear of the Building | Paved Parking Spaces on Both Sides

Exclusively Listed By

Listing Price: $6,392,000

Cap Rate
6.70%
Gross SF
20,040
Rentable SF
20,040
Price/Gross SF
$318.96
Lot Size
1.79 acres
Year Built
2006

Investment Highlights

  • Prime Freeway Location on North Loop 1604 West in a Dense Retail Trade Area | Extremely High Traffic Counts Exceeding 143,860 Vehicles Per Day
  • 20,040-Square Foot, Multi-Tenant Retail Center | 97% Occupied | All Leases are Triple-Net
  • Current Average Rents are Below Market | 76% of the Gross Leasable Area has Leases Expiring in 2022, Providing Upside Potential
  • Texas Leather Company and To Bed Mattress Store Have Front-Facing Entrances | Remaining Suites Enter from the Rear of the Building | Paved Parking Spaces on Both Sides

Investment Overview

Peninsula Center is a 20,040-square foot, multi-tenant retail center located in San Antonio, Texas. The center is currently 97 percent occupied, and all leases are triple-net. Tenants consist of a complementary mix of retailers and service-oriented businesses, including Texas Leather Company, Premier Ballet Studio, To Bed mattress store, and San Antonio Sleep Centers. Constructed in 2006, the building is situated on a 1.79-acre lot with paved parking in the front and back of the building. Texas Leather Company and To Bed mattress store have front-facing entrances, while the remaining suites have rear access. The subject property is strategically located on the access road of North Loop 1604 West in between Interstate 10 and U.S. Highway 281 in a dense retail trade area, and benefits from high traffic counts of approximately 143,860 vehicles per day in front of the property. Numerous national and regional retailers are in close proximity to the property, including Lowe’s Home Improvement, H-E-B grocery store, Target, Whole Foods, L.A. Fitness, Golf Galaxy, Office Depot, Trader Joe’s, Panera Bread, Taco Cabana, Starbucks, and many others. This high growth area of North Central San Antonio has desirable demographics. The average household income is $139,588 within a one-mile radius; $121,232 within a three-mile radius; $101,036 within a five-mile radius, and serves a dense residential population of approximately 212,994 people.

Exclusively Listed By

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