Ingram Place

Price: $6,485,000
Sq. Ft.: 54,773
Cap Rate: 6.07%
Built: 1980

Ingram Place is a 54,773-square-foot, value-add, multi-tenant retail center located in a densely populated area of San Antonio, Texas. The center is currently 57 percent occupied with 43 percent of the gross leasable area having triple-net leases, providing significant upside potential to a future investor. The tenant base is a complementary mix of local internet-resistant, service-oriented businesses including Farmers Insurance, Lucky Nails, Snap Back Tax Services, The Line, Peng’s China Town Restaurant, Create a Cig, Queen Foot Spa, Regional Finance Company, Ingram Wine & Liquors, Roxy’s Sports Bar, Jerusalem Café, U.S. Army Navy Air Force, and Sarkis Family Dental. Recent property improvements reported by the seller include seal coating and pylon signage upgrades. The center was constructed in 1980 and is situated on approximately 3.87 acres.

Ingram Place is located on Wurzbach Road near the signalized intersection of Wurzbach Road and Ingram Road and less than one-tenth of a mile from Loop 410, one of the most heavily traveled freeways in the region. Traffic counts in front of the property exceed 34,400 vehicles per day. The center is shadow-anchored by Ingram Mall. Ingram Mall has more than 150 tenants and is anchored by Dillard’s, JCPenney, and Macy’s. Other national retailers in the area include Boot Barn, Marshalls, DSW, Spec’s, Ross Dress for Less, Best Buy, Olive Garden, Denny’s, Chuck E. Cheese’s, Texas Roadhouse, Chick-fil-A, Whataburger, and more. The property is in close proximity to Oliver Wendell Holmes High School, which provides additional traffic to the area. The surrounding area is densely populated with more than 118,745 residents within three miles and 375,664 residents within five miles.

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’s economy has remained steady and prosperous by successfully attracting new businesses and helping existing companies grow. San Antonio is also known as a top tourist destination, hosting 37 million visitors annually and providing an economic impact of $15.3 billion.