Marcus & Millichap is pleased to present the opportunity to acquire a 22,606-square foot, multi-tenant retail center located in a highly affluent area of San Antonio, Texas. Blanco Crossing is currently 84 percent occupied, providing upside potential in leasing the vacant space. All current leases are triple-net, and the tenant base is a complementary mix of service-oriented businesses. Tenants include Sake Cafe Sushi Bar & Grill, Blanco Crossing Veterinary, The Mailing Spot, Ghias Jabbour DDS, Victory Martial Arts, KC Pet Products, Cafe Vida II, Victoria Custom Tailoring, 4 Seasons Nails, and Kennedy’s. Constructed in 2002, the building is situated on a 2.127-acre lot with ample concrete parking.
Blanco Crossing is located at the signalized intersection of Blanco Road and Huebner Road one mile north of North Loop 1604. Cumulative traffic counts exceed 50,200 vehicles per day in front of the property. The subject property is located near many national and regional retailers including CVS Pharmacy, Whole Foods Market, Target, Office Depot, Trader Joe’s, H-E-B Grocery, GNC, Lowe’s Home Improvement, Zoe’s Kitchen, and more. The center is well positioned to serve an affluent residential population of more than 172,000 people within five miles. The household income within one-mile is $139,494.
- 84% Occupied | All Leases are Triple-Net | Complementary Mix of Service-Oriented Businesses
- Upside Potential in Leasing Vacant Space | Pro Forma Cap Rate is 8.39%
- 100% of the Current Leases have Personal Guarantees
- Established Tenant Base with Long-Term Leases | 34% of the Gross Leasable Area has Occupied the Center Since Construction in 2002
- 52% of the Gross Leasable Area has Tenants with Annual Rent Escalations Remaining
- Current Rents are Below Market | All Leases Have Options for Renewal at Market Rates
- Signalized, Hard Corner of Blanco Road and Huebner Road | Cumulative Traffic Counts are 50,200 Vehicles Per Day
- Located Approximately One Mile North of Loop 1604 | Dense Retail Trade Area with Numerous National and Regional Retailers Including Target, Whole Foods Market, Lowe’s Home Improvement, H-E-B Plus!, LA Fitness, and More
- Excellent Demographics | Highly Affluent Area with an Average Household Income of $139,494 Within One Mile, $130,250 Within Three Miles, and $112,370 Within Five Miles | Population Exceeds 172,000 Within Five Miles of the Property
- Located Approximately 10 Miles from San Antonio International Airport | More Than 8.5 Million Passengers Annually
- San Antonio is a Top Tourist Destination, Including Attractions Such as The Alamo, River Walk, SeaWorld, and Six Flags Fiesta Texas