Marcus & Millichap is pleased to offer the opportunity to acquire a 64,200-square-foot, multi-tenant retail center located in San Antonio, Texas. Rigsby Avenue Shopping Center is 100 percent leased, and 78 percent of the gross leasable area has triple-net lease terms. Anchored by Dollar Tree, the tenant base is a complementary mix of internet-resistant, service-oriented businesses, including Alamo City Urgent Care, Alfonso’s Tamales, Republic Finance, Red Star Vapor, AVIS, Homeowners Builder’s Showroom, Nopalitos Mexican Restaurant, Nail Salon, CATO, PAE Professional Services, U.S. Armed Forces Recruiting, Brident Dental, Genesis Drug Testing, Baptist Health Systems, Champions Liquor & Wine, Shoe Show, and CATO dba it’s Fashion. Constructed in 2002, the center is situated on a 6.09-acre parcel with ample paved parking. A large double-sided monument sign provides additional exposure.
Rigsby Avenue Shopping Center is located on the frontage road of SE Loop 410 (Connally Loop), with multiple ingress and egress points. Traffic counts in front of the property exceed 68,743 vehicles per day on SE Loop 410 (Connally Loop). Shadow-anchored by Walmart Supercenter, the subject property is near other numerous national and regional retailers including Chick-fil-A, Great Clips, Valero Gas Station, Jack in the Box, KFC, Subway, QuikTrip, McDonald’s, 7-Eleven, Take 5 Oil Change, Planet Fitness, AutoZone Auto Parts, and many others. The surrounding area benefits from an extremely dense population of more than 155,019 residents within five miles.
- 64,200-Square-Foot, Multi-Tenant Retail Center
- Shadow-Anchored by a Walmart Supercenter | Major Traffic Driver to the Area with an Estimated 1.7 Million Visitors Annually (source: Placer Labs Inc.)
- 100% Leased | 78% of the GLA has Triple-Net Leases | Future Upside Potential in Converting Gross Leases
- Strong Tenant Base Anchored by Dollar Tree (NASDAQ: DLTR) | 52% of the GLA is Leased to National or Regional Retailers | 19% of the GLA is Leased to Medical Tenants | 6% is Government Credit
- Current Average Rents are Below Market
- Priced at $161 Per Square Foot | Below Replacement Cost
- Situated on a 6.09-Acre Parcel | Includes a Large Double-Sided Pylon Sign at the Entrance
- Neighboring Pad Sites Include Security Service Federal Credit Union, Denny’s, Circle K, Jack in the Box, KFC and Taco Bell (Not a Part)
- Strategically Located on the Frontage Road of SE Loop 410 (Connally Loop) | Traffic Counts on SE Loop 410 Exceed 68,743 Vehicles per Day and 32,432 Vehicles per Day on Rigsby Avenue
- Close Proximity to H-E-B Grocery Distribution Center, a 1.6 Million Square-Foot Warehouse Facility and One of the Area’s Largest Employers
- Property Benefits from a Highly Populated Surrounding Area | Five-Mile Population is 155,019
- San Antonio is a Top Tourist Destination | 37 Million Visitors Annually | Economic Impact of $16.2 Billion
