Marcus & Millichap is pleased to present the opportunity to acquire a value-add 31,255-square-foot, multi-tenant retail center located in a densely populated area in San Antonio, Texas. The center is 78 percent occupied, with all triple-net leases. The tenant base is a complimentary mix of restaurants and service-oriented businesses, including Rays Pizzeria, Hacienda Patron, Singapore Chinese, Fitzgerald's Bar and several other tenants.
San Pedro Place has a well-positioned grandfathered in sign at the frontage road entrance providing great visibility to the center. The subject property benefits from high traffic counts on San Pedro Ave with 38,224 vehicles per day and over 240,00 vehicles per day off Northwest Loop 410. Located in a densely populated area, the population is approximately 99,353 within a three-mile radius and 310,008 residents within a five-mile radius. Surrounding demographics are strong with an average household income of $82,892 within one mile, $84,118 within three-miles and $89,068 within five-miles. The subject property is less than a mile away from North Star Mall and surrounded by many national and regional retailers including Whataburger, Target, Goodwill, Best Buy, PetCo, World Market and Five Below.
As the seventh-largest city in the United States, San Antonio is experiencing solid economic growth in 21st century industries such as bioscience and healthcare, aerospace, IT and cybersecurity and green technologies. San Antonio is also known as the top tourist destination in the state, hosting 37 million visitors annually and providing an economic impact of $16.2 billion.