Shopping Strip

8048 Midcrown

8048 Midcrown Dr, San Antonio, TX 78218

Listing Price: $514,000

Cap Rate
4.44%
Gross SF
4,832
Rentable SF
4,832
Price/Gross SF
$106.37
Lot Size
0.35 acres
Year Built
1974

Investment Overview

Marcus & Millichap is pleased to present 8048 Midcrown Drive located in the northeast sub-market of San Antonio in the municipality of Windcrest. 8048 Midcrown Drive is a 4,900 SF double-sided, multi-tenant retail building situated in the heart of a major retail, and services corridor of Walzem Road. There are over 100,000 households within a 5-Mile radius of the property. This area shows consistent year over year growth above the national average. 8048 Midcrown Drive has had a long history of stable tenants, e-commerce resistant and performing during the COVID-19 pandemic with temporary rent relief agreements. The northeast sub-market of San Antonio currently has very low vacancy rates, and part of an economic revitalization effort by the city of Windcrest. Built in 1974, the building has been well-maintained with a recent roof replacement (2016) and upgraded HVAC systems. The property has easy ingress and egress via Midcrown Drive, and by the connected adjacent shopping centers. It is also supported by a lighted intersection with shared access from Walzem Road. Pylon and facade signage available, and is shadow-anchored by other surrounding local and regional retailers and services.
8048 Midcrown Drive has a strong opportunity for upside by restructuring existing below market, short-term, gross lease agreements and/or by re-tenanting at market rates with expense reimbursements (NNN). With active repositioning, an investor can see near term increase in cash flow, and a strong internal rate of return throughout the hold and exit of this asset.

Investment Highlights

  • New Roof Installed in 2016
  • Population of 275,335 Within a 5-mile Radius
  • 42,222 VPD - Walzem Rd
  • Situated in a High Retail and Services Corridor of the NE Sub-market of San Antonio
  • Flexibility in Current Lease Agreements to Add Near Term Value

Exclusively Listed By

Listing Price: $514,000

Cap Rate
4.44%
Gross SF
4,832
Rentable SF
4,832
Price/Gross SF
$106.37
Lot Size
0.35 acres
Year Built
1974

Investment Highlights

  • New Roof Installed in 2016
  • Population of 275,335 Within a 5-mile Radius
  • 42,222 VPD - Walzem Rd
  • Situated in a High Retail and Services Corridor of the NE Sub-market of San Antonio
  • Flexibility in Current Lease Agreements to Add Near Term Value

Investment Overview

Marcus & Millichap is pleased to present 8048 Midcrown Drive located in the northeast sub-market of San Antonio in the municipality of Windcrest. 8048 Midcrown Drive is a 4,900 SF double-sided, multi-tenant retail building situated in the heart of a major retail, and services corridor of Walzem Road. There are over 100,000 households within a 5-Mile radius of the property. This area shows consistent year over year growth above the national average. 8048 Midcrown Drive has had a long history of stable tenants, e-commerce resistant and performing during the COVID-19 pandemic with temporary rent relief agreements. The northeast sub-market of San Antonio currently has very low vacancy rates, and part of an economic revitalization effort by the city of Windcrest. Built in 1974, the building has been well-maintained with a recent roof replacement (2016) and upgraded HVAC systems. The property has easy ingress and egress via Midcrown Drive, and by the connected adjacent shopping centers. It is also supported by a lighted intersection with shared access from Walzem Road. Pylon and facade signage available, and is shadow-anchored by other surrounding local and regional retailers and services.
8048 Midcrown Drive has a strong opportunity for upside by restructuring existing below market, short-term, gross lease agreements and/or by re-tenanting at market rates with expense reimbursements (NNN). With active repositioning, an investor can see near term increase in cash flow, and a strong internal rate of return throughout the hold and exit of this asset.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower