8522 BROADWAY ST, SAN ANTONIO, TX 78217
SLJ Company, LLC
(214) 520-8818 ext. 4
Lot Size: 2.43 Acres
Property Type: Retail
Cap Rate: 7.9%
Building Size: 39,333 Square Feet
Property Sub-Type: Office
Great Visibility & Access
NNN Leased Multi-Tenant Property
Heavy Traffic Counts
Booming San Antonio Market
SLJ Company, LLC (SLJ) has been exclusively retained to offer to qualified investors the opportunity to acquire a 100% fee-simple interest in 8522 Broadway (the “Property”), a two-story 39,333 square foot multi-tenant retail & office investment property located in San Antonio, Texas. Positioned at the intersection of Connally Loop (I-410) and Broadway St, the Property is approximately 13 minutes north of Downtown San Antonio and just moments away from the affluent neighborhoods of Alamo Heights, Terrell Hills and Olmos Park.
Built in 2006, the Property is 100% leased to ten internet-resistant tenants including Wheels in Motion, Nova Healthcare Management and First National Bank of Texas. Significant property upgrades over the past several years limit the need for near-term capital improvements creating the opportunity for years of stable cash flow.
8522 Broadway offers investors built-in upside potential with 49.4% of in-place leases containing contract rent increases. There is also immediate upside potential in leasing the one remaining vacant suite consisting of 1,644 square feet. Staggered lease expirations and a diversified rent roll with no one tenant accounting for more than 16% of the gross leasable area, mitigate vacancy risk. Additionally, all tenant leases are triple net providing a landlord insulation from increases in operating expenses.
8522 Broadway is strategically positioned in close proximity to some of San Antonio’s most prestigious residential neighborhoods, including being just 1.5 miles north of Alamo Heights where median household income is in excess of $129,000 per year. The Property is also just minutes from San Antonio International Airport which is located immediately to the northwest. Situated at the corner Connally Loop and Broadway St, the Property enjoys excellent visibility and access to a combined traffic count exceeding 227,000 vehicles per day. Retailers located along the Broadway commercial corridor include Chili’s, Wells Fargo, H-E-B, Zoe’s Kitchen, Walgreens and Raising Cane’s, just to name a few.
San Antonio is the third largest city in Texas and in 2017 was #1 in the U.S. for population growth. This phenomenal growth has been fueled by a pro-business climate and the relatively low cost of living and doing business which are 14% & 10% below the national average, respectively. Overall, 8522 Broadway offers an investor a high-quality, stable, income-producing asset ideally positioned in one of the fastest growing markets in the county.