Marcus & Millichap is pleased to present the opportunity to acquire a recently renovated, multi-tenant retail center that is well positioned near the Broadway Corridor and Historic Pearl district areas of San Antonio, Texas. Shoppes on Grayson is 100 percent occupied, and all leases are triple-net. Tenants are a complementary mix of internet-resistant and service-oriented local businesses including In Bloom Vintage Clothing, Folklores Coffee House, Sikesercise Gym, Cakes by Felicia, Slow Ride Bar, and Si Dios Quiere Bar. Originally constructed in 1950 and recently renovated in 2024, the building has great visibility on both Grayson Street and N. New Braunfels Avenue, at the southern entrance to Fort Sam Houston military base.
The subject property is located less than one mile north of the intersection of Interstate 35 The subject property is located less than 0.75 miles East of the intersection of Grayson Street and Broadway Avenue, which has seen some of the highest new investment in residential, retail and office properties in all of San Antonio. The historic Pear. District provides some of the best dining, entertainment and hotels in the city. This includes the award winning Hotel Emma, newly opened Stable Hall music venue and Pullman Market. Behind the subject property, the Residences at Grayson Heights is beginning to deliver new apartment units. This class A apartment will offer 281 new apartment homes.
- 7,369-Square-Foot Multi-Tenant Retail Center | Prime Location in Government Hill Historic District, Less Than One Mile from The Broadway Corridor and The Pearl
- Poised to Benefit from Increased Foot Traffic from the Newly Constructed Residences at Grayson Heights, a Class ‘A’ Apartment Project, Adding 281 New Apartments and has Just Started to Deliver Units in September | Additional Foot Traffic from Fort Sam Houston, the US Military’s Medical Training Base, with Higher Household Incomes due to Medical Staff Onsite | Officer Housing at the Base is Currently being Renovated, Leading to Additional Service Member Families being Located There
- Property was Recently Renovated with Over $250,000 of Improvements Reported by the Landlord, Including New Stucco, Repainted Exterior, New Awnings with Standing Seam Metal Roofs, New Landscaped Patios, New Parking Lot, New Lighting and Property Fencing
- Outstanding Tenant Mix of Well-Known Local Businesses – Folklores Coffee House (Award Winner, for Best Local Coffee in SATX), Slow Ride Bar (Operated by the Owners of Lonesome Rose), Sikesercise Gym (DECA Fit Certified Trainers) and Cakes by Felicia (Owned by an Award Winning Pastry Chef) | The property also Benefits from Advantageous Zoning of C-2 NA | Nearby Complementary Retail and Restaurants Include Alebrije Bakery, Break Away Brewery and Dee Willie’s BBQ
- Current Ownership has Re-tenanted 100% of the Spaces | 6 of 7 Leases Exceed $30.00 PSF in Rent | Potential Upside in Bringing the Corner Suite (Fronts both Grayson and New Braunfels) to the Established Market Rent of $35.00 PSF, an increase of over 50% | This Suite has the Ability to be Split to Further Increase the Rental Streams Diversity | The property Retains a Grandfathered Pylon Sign, Allowing New Ownership to Monetize through Advertising or Tenant Signage Opportunities
- Starting in 2025, the Property will Benefit from a 100% Tax Abatement for the City Property Taxes | Current Ownership was Granted a Five-Year 100% City Tax Abatement and Five-Year 50% City Tax Abatement
- Property Benefits from On-site Parking which Includes a Small Teaser Parking Lot and Convenient Street Parking | Some Tenants have a Parking Agreement with the Owner of the Adjacent Property to have After Hours Parking in a Surface Lot
- Signalized, Hard Corner Location at the Intersection of North New Braunfels and East Grayson Street | Less than One Mile North of Interstate 35 (Monarch Highway) and New Braunfels Avenue
- Property Benefits from its Close Proximity to the Broadway Corridor and The Pearl District | Continued Growth from these Areas Continues to Migrate Towards the Shoppes on Grayson, with Thousands of Planned New Residential Units Coming
- Strong Retail Sales, with Over $100 Million Annually within a One-Mile Radius
