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    Fully Occupied Retail Center Title is generated by Realmo AI

    1626 Pat Booker Rd, Universal City, TX 78148

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    Claim this Listing
    For Sale
    $2,993,000

    Stabilized retail center in Universal City, 100% occupied.

    Type:Shopping Strip
    Property size:
    16,800 SF
    Price / SF:
    $178/SF
    Added:
    Apr 3, 2026
    Days on Market:
    65
    Last Refresh:
    Apr 3 at 5:19 am

    Property Features for 1626 Pat Booker Rd

    General Information

    Standard status
    Active
    Size
    16,800 SF
    Property subtype
    Shopping Strip

    Building Details

    Year Built
    1968

    We can help!

    Listing Contact
    Philip Levy
    Philip Levy

    Listing agent Philip Levy License #TX: 0522087

    Listing office Dallas Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Dallas Office

    HighLights

    • 100% Occupied with Triple‑Net Leases: Enjoy immediate and stable cash flow.
    • Anchored by Meineke Car Care Center: Benefit from consistent customer traffic.
    • High Traffic Location: Excellent visibility on Pat Booker Road with approximately 23,552 vehicles per day.
    • Diverse Tenant Mix: Reduces reliance on any single industry.
    • Located in Growing San Antonio Suburb: Universal City offers increasing market potential.
    • Proximity to National Retailers: Surrounded by established brands like Walmart, Target, and Ikea.

    Overview

    Pat Booker Retail Center is a fully stabilized, 16,800-square-foot multi-tenant retail asset. The property is 100 percent occupied, with all tenants operating under triple-net lease structures. Anchored by Meineke Car Care Center, the center has a diverse mix of service-oriented businesses, including World Finance, Humble Roots Brazilian Jiu-Jitsu, Goddess Ink & Tattoo, Kenpo Karate, Poca Mota, Rudy's Jewelry Repair, and a massage parlor. Pat Booker Retail Center is located in Universal City, a growing northeast suburb of San Antonio, positioned along Pat Booker Road—one of the area's busiest commercial corridors. Traffic counts in front of the property are approximately 23,552 vehicles per day. Numerous national and regional retailers are in the surrounding area, such as Planet Fitness, O'Reilly Auto Parts, Walmart, Kohl's, Ikea, Target, and Best Buy.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $332.6k $19.80
    − Vacancy −$13.3k −$0.79
    EGI $319.3k $19.01
    − OpEx −$95.8k −$5.70
    NOI $223.5k $13.31
    16,800 SF · lease $19.80/SF/yr · vacancy 4.00% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $3.19M
    $2.79M – $3.73M (±1% cap)
    NOI $223,534 @ 7.0% cap · market cap 7.47%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $4.55M
    $3.98M – $5.30M (±1% cap)
    NOI $318,291 @ 7.0% cap · market cap 10.63%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Universal City
    County
    Bexar
    State
    Texas
    Longitude
    -98.305117
    Latitude
    29.552464

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    FAQs

    What type of property is this?
    Strip mall - Stabilized retail center in Universal City, 100% occupied.
    Where is this strip mall located?
    The property is located at 1626 Pat Booker Rd Universal City, TX.
    What is the asking price?
    The asking price for this property is $2,993,000.
    What are key features of this property?
    This property features: 100% Occupied with Triple‑Net Leases: Enjoy immediate and stable cash flow.; Anchored by Meineke Car Care Center: Benefit from consistent customer traffic.; High Traffic Location: Excellent visibility on Pat Booker Road with approximately 23,552 vehicles per day.
    (972) 755-5225
    We can help!
    Listing Contact
    Philip Levy
    Philip Levy
    Real Estate License ID: TX: 0522087
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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