Listed by Foresite Commercial Real Estate
$5,000,000
Shops at Live Oak
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 22,984
Units 13
Cap Rate 6.44%
NOI $321,883
Occupancy 71.22%
Tenancy Multi
Lease Type NNN
Pro-Forma Cap Rate 10.22%
Pro-Forma NOI $511,003
Price per SqFt $218
Year Built 1980
Year Renovated 2018
Acreage 2.720
Parking Spaces 66 spaces
Parking per 1,000 SqFt 2.87
Investment Type Value Add
Ground Lease No
Retail | 6.44% CAP | 22,984 SqFt
Marketing description
Shops at Live Oak is a 22,958 square foot retail center in Live Oak, a suburb of San Antonio. The center is conveniently located with two points of ingress, both at lighted intersections and with access from Loop 1604 Frontage Road, allowing for easy accessibility. In addition to its strategic location facing Loop 1604, the center was designed to provide visibility to Pat Booker Road, maximizing its exposure. Positioned in the heart of Live Oak's bustling retail corridor, the property enjoys excellent demographics and high visibility. It is half a mile away from I-35, a major highway linking San Antonio and Austin.
Investment highlights
- The property benefits from multiple entry points. The center is visible from the Loop 1604 turnaround that sends eastbound traffic to The Forum, San Antonio's largest power center. IKEA and Live Oak Town Center are less than one mile away on Pat Booker Road. The property is adjacent to Wayland Baptist University, which has a total undergraduate enrollment of 2,800.
- The property is currently 71% occupied, leaving significant room for the next owner to add value by through lease-up, as well as potential rental rate growth from tenants who occupied the space prior to renovations.
- Traffic to this strip center comes from all directions with easy access from IH-35 and Loop 1604 via Pat Booker Rd (26,000 VPD). Signage is visible from Loop 1604 with more than 95,000 vehicles per day. The large pylon sign matches the distinctive look of the recently renovated building facade.
Listing Contacts
Listed by Foresite Commercial Real Estate
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$321,883.00
$26,823.58/mo
Valuation Metrics
0
DSCR
6.44%
Cap Rate
6.44%
ROI
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