Walmart Shadow-Anchored Retail Center 1432 Austin Highway, San Antonio, Texas 78209
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Walmart Shadow-Anchored Retail Center 1432 Austin Highway, San Antonio, Texas 78209 CONFIDENTIAL OFFERING MEMORANDUM 1432 Austin Highway San Antonio, Texas 78209 OFFERING SUMMARY CONTENTS RFM Commercial, Inc. is pleased to present to the market, 1432 Austin Hwy, Offering Summary ................................ 2 a 26,595 square foot Value-Add Walmart shadow-anchored neighborhood center in northeast San Antonio. Conveniently located between Walmart Property Details ...................................... 3 Supercenter and Lowe’s, the center enjoys cross access and multiple entrances to serve its large trade area which includes several of the city’s Site Plan Aerial ...................................... 4 most affluent communities such as Terrill Hills, Alamo Heights, Terrill Heights Retail Aerial ............................................ 5 and Oakwell Farms. Proven in-fill trade area with easy access to Loop 410 and IH 35 includes additional national retailers such as Target, Gold’s Gym Market Aerial ........................................ 6 and HEB. Economic generators/employers within proximity include Fort Sam Houston, McNay Art Museum, Incarnate Word University, Rackspace, San Financial Analysis .................................. 7 Antonio Botanical Gardens, Trinity University, Children’s Museum SA, Witte Museum, San Antonio Zoo, San Antonio River Walk and the 26-acre Pearl Rent Comps ......................................... 8 District. San Antonio Overview ....................... 9 The asset is currently 66% leased with all vacancies fully finished out, providing a true Value-Add opportunity for an investor to lease the remaining vacancy. Demographics .....................................10 The sales proforma assumes leasing the vacant spaces from $18-$22 psf Confidentiality & Disclaimer ................. 11 which is well below the current average rents of $23.21 psf. The center sits on 3.78 acres, providing the possibility to add additional space and/or drive- thru capability to its end-caps. Exclusively Listed By: RFM Commercial, Inc. Beverly R. Barshop Richard F. McCaleb 210.826.0036 x290 210.826.0036 x230 [email protected] [email protected] PROPERTY DETAILS ADDRESS 1432 Austin Highway San Antonio, Texas 78209 ACCESS Four entrances to the property of which two (2) are signalized AGE Built in 2004 LAND SIZE ±3.78 Acres ZONING C-3 PARKING/PARKING RATIO 144 Spaces/ 5.41 per 1000 SF TRAFFIC COUNTS Austin Hwy: 22,000 VPD Harry Wurzbach: 7,180 VPD (Kalibrate 2021) SIGNAGE Pylon signage along Austin Hwy and individual tenant signage at each suite ROOF Built up tar gravel roof PYLON SIGN WITH EXCELLENT HVAC Typical roof top package units VISIBILITY FROM AUSTIN HIGHWAY CONFIDENTIAL OFFERING MEMORANDUM 1432 Austin Highway, San Antonio, Texas 78209 SITE PLAN AERIAL Suite Tenant SF 109 GameStop 1,500 100 Vacant 2,800 110 Great Clips 1,300 102 Victory Martial Arts 2,000 112 Navy Federal Credit Union 3,672 104 Vacant 2,640 114 Vacant 1,300 105 MB Fabrics 3,360 115 Vacant 1,260 107 4 Star Nails 1,500 116 Vacant 1,100 108 Sprint 2,463 117 H&R Block 1,700 CONFIDENTIAL OFFERING MEMORANDUM 1432 Austin Highway, San Antonio, Texas 78209 CONFIDENTIAL OFFERING MEMORANDUM 1432 Austin Highway, San Antonio, Texas 78209 MARKET AERIAL CONFIDENTIAL OFFERING MEMORANDUM 1432 Austin Highway, San Antonio, Texas 78209 FINANCIAL ANALYSIS STABILIZED VALUE ADD PRICE $7,224,000 ($271 PSF) PROFORMA CAP RATE 7.25% PROFORMA STABILIZED NOI $523,760* (Based on 93% occupied with $18-$22 PSF Rents on vacant spaces) *Average current rental rate $23.21 PSF PROJECTED GROSS REVENUE Proforma PSF Base Rental Revenue $585,722 $22.02 Expense Reimbursement Revenue $242,302 $9.11 Vacancy 7% Stabilized <$57,962> <$2.18> Gross Budgeted Revenue $770,062 $28.96 ANNUAL EXPENSES Proforma PSF Property Taxes $152,220 $5.72 Property Insurance $10,488 $0.39 Common Area Maintenance (CAM) $79,594 $2.99 Non Pass-Thru Expenses $4,000 $0.15 Total Estimated Operating Expenses $246,302 $9.26 Proforma NOI $523,760 CONFIDENTIAL OFFERING MEMORANDUM 1432 Austin Highway, San Antonio, Texas 78209 RENT COMPS Project Name GLA (SF) Occupancy Major Tenants Address Year Built Small Shop Rates 1432 Austin Highway 26,595 66% NFCU, Game Stop, San Antonio, Texas 78209 2004 $18 - $26 NNN Sprint, Great Clips Terrell Plaza 107,884 89% Dollar Tree, Ross, 1223 Austin Hwy 1965, Ren. 2012 $19 - $24 NNN Petco, Five Below San Antonio, Texas 78209 Alamo Hills Gold’s Gym, 146,803 94% 1246 Austin Hwy Pet Supplies Plus, 1984 $18 - $28 NNN San Antonio, Texas 78209 Papa John’s Austin Heights 59,932 79% Goodwill, Advance 1533 Austin Hwy 1984, Ren. 2012 $18 - $24 NNN Auto, The UPS Store San Antonio, Texas 78218 Sunset Square 149,533 100% HEB, LA Crawfish, 1520 Austin Hwy 1967, Ren. 1986 $20 - $24 NNN One Touch Direct San Antonio, Texas 78218 CONFIDENTIAL OFFERING MEMORANDUM 1432 Austin Highway, San Antonio, Texas 78209 SAN ANTONIO OVERVIEW TOP AREA EMPLOYERS San Antonio is the seventh most populous city in the U.S. and the second most Lackland Airforce Base 37,000+ populous city in Texas with a MSA population of more than 2.5 million. More USAA 35,935+ than 400 companies across all industries: financial services, cybersecurity, manufacturing, technology, bioscience, and aerospace, are based in greater Fort Sam Houston - US Army 32,000+ San Antonio. As of 2020, the region’s population increased by 9% and is Whataburger 22,500+ expected to increase by 6.2% within the next five years. From 2015 to 2020, H-E-B 20,300+ jobs increased by 9.5% outpacing the national growth rate of 6.2%. Home to numerous historical and cultural sites, including the Alamo, the world-famous Northside ISD 12,900+ River Walk and the 26-acre Pearl District, tourism contributes substantially to the Randolph Airforce Base 11,000+ city’s economy, with over 37 million tourists visiting annually, employing over Valero Energy 9,964+ 122,500 people at an annual economic impact of over $15.2 billion on the local Methodist Healthcare System 9,620+ economy. iHeart Media 9,588+ The Alamo City has one of the largest concentrations of military bases in the City of San Antonio 9,145+ United States. The defense industry in San Antonio employs over 190,000 and Northeast ISD 8,780+ provides a $27.7 billion regional economic impact. San Antonio is home to Fort Sam Houston, Lackland Air Force Base, Randolph Air Force Base and Brooks TaskUs 7,700+ City-Base, with Camp Bullis and Camp Stanley just outside the city. These bases San Antonio ISD 7,500+ make up what is known as Joint Base San Antonio (JBSA). JBSA services more Rackspace Technology 7,200+ Department of Defense students and runways than any other installation, houses the DoD’s largest hospital, and supports more than 250,000 personnel. Baptist Health System 6,383+ Its total replacement value is estimated at $10.3 billion with an annual budget Wells Fargo 5,073+ of $800 million. JP Morgan Chase 5,000+ America’s northernmost gateway with Mexico, San Antonio has become an Bill Miller Bar-B-Q 4,400+ international trade center enhanced through Port San Antonio, a 1,900-acre AT&T 4,300+ aerospace, industrial complex, and international logistics platform that services Harte Hanks 3,800+ firms such as Boeing, Lockheed Martin and XPO Logistics, as well as government and military agencies. Employing more than 14,000 people in its unique air-, Christus Santa Rosa 3,700+ rail- and highway-served property, Port SA generates over $5 billion in annual CPS Energy 3,100+ economic activity for the region. Frost Bank 3,000+ San Antonio continues to be one of the most attractive metros in the country Sirius Computer Solutions 2,600+ due to its exceptional economic and population growth, low business and living Toyota Motor Manufacturing 2,500+ costs, central geographic location and south Texas charm, emerging culinary Visionworks 2,500+ and arts scene, and versatile transportation infrastructure. Harland Clarke 2,100+ CONFIDENTIAL OFFERING MEMORANDUM 1432 Austin Highway, San Antonio, Texas 78209 Community Profile Community Profile Site Map 1432 Austin Hwy, San Antonio, Texas,143 782 Aust209 i3n Hwy, San Antonio, Texas, 78209 3 Prepared by Esri Prepared by Esri 1432 Austin Hwy, San Antonio, Texas,143 782 Aust209 in Hwy, San Antonio, Texas, 78209 Latitude: 29.49109 Latitude: 29.491091432 Austin Hwy, San Antonio, Texas, 78209 3 Prepared by Esri DEMOGRAPHICS 1432 Austin Hwy, San Antonio, Texas, 78209 Latitude: 29.49109 Rings: 1, 3, 5 mile radii Rings: 1, 3, 5 mile radii Longitude: -98.43523 Longitude: -98.435Rings:23 1, 3, 5 mile radii Longitude: -98.43523 1 mile 3 miles 1 mile 5 miles 3 miles 5 miles Population Summary Population Summary 2020 Population2000 Total Population 2000 Total Population 12,124 81,601 12,124 224,281 81,601 224,281 2010 Total Population 2010 Total Population 11,667 83,216 11,667 234,514 83,216 234,514 (3 mi Radius)2020 Total Population 2020 Total Population 12,760 87,159 12,760 253,740 87,159 253,740 2020 Group Quarters 2020 Group Quarters 305 5,798 305 9,900 5,798 9,900 2025 Total Population 2025 Total Population 13,311 90,336 13,311 265,734 90,336 265,734 87,1592020-2025 Annual Rate 2020-2025 Annual Rate 0.85% 0.72% 0.85% 0.93% 0.72% 0.93% 2020 Total Daytime Population 2020 Total Daytime Population 12,390 116,249 12,390 314,977 116,249 314,977 Workers Workers 5,943 71,140 5,943 177,029 71,140 177,029 Residents Residents 6,447 45,109 6,447 137,948 45,109 137,948 Household Summary Household Summary 2000 Households 2000 Households 5,442 33,977 5,442 88,474 33,977 88,474 2000 Average