Established Strip Center For
For Sale
Contact for pricing
1635 Somerset Rd, San Antonio, TX 78211
Five-tenant strip center built in 2013, original developer selling.
Property Size6,600 SF
Price / SF$260.81
Days on Market156
Property Features for 1635 Somerset Rd
General Information
Standard status
Active
Size
6,600 SF
Property subtype
Retail
Zoning
C3
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$124,798
Building Details
Year Built
2013
Buildings
1
Tenancy
Multi
Listing Agency:
Foresite Commercial Real Estate
(210) 722-9096
Listed By:
Xavier Alvarado · License #TX 766038
Source:
Crexi
Added: Mar 23
Changed: Aug 17
Last Checked: Aug 24 at 10:36AM
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 Foresite Commercial Real Estate
Investment Insights
Based on property information with market context.
This commercial property features a five-tenant strip center constructed in 2013. The property is being sold by its original developer. The total property size is 6600 square feet. The strip center has five tenants, two of which operate under gross leases, presenting opportunities for NNN conversions.
Key Highlights
- Five tenant strip center offers a diversified income stream.
- Built in 2013.
- Being sold by original developer.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$88,349
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,766,980
$1.8M
Cap Rate 7%
$1,262,129
$1.3M
Cap Rate 9%
$981,656
$981.7K
Market Conditions
NOI Build-Up for 6,600 SF
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.
Gross rent
$131.5K $19.92/SF
− Vacancy
−$5.3K −$0.80/SF
EGI
$126.2K $19.12/SF
− OpEx
−$37.9K −$5.74/SF
NOI
$88.3K $13.39/SF
Area
San Antonio, TX
Vacancy
4.00%
Lease Rate
$19.92 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,766,980
Cap Rate 7%
$1,262,129
Cap Rate 9%
$981,656
Alternative Uses
Best Use
Retail
$1.26M
$1.10M – $1.47M
NOI $88,349 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,848 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,085
Businesses Nearby
Explore this area
Business Placement
Demographics for 78211, TX
29,976
Population
10,516
Households
2.9
Avg Household Size
35
Median Age
7%
College-Educated
63%
High-School Grad
10.2 sq mi
ZIP Area
2,939
Density / Sq Mi
$54,279
Median Household Income
$30,109
Median Earnings
$1,047
Median Rent
$110,200
Median Home Value
Market
Vacancy Rate% for Retail in San Antonio, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Five-tenant strip center built in 2013, original developer selling.
Where is this strip mall located?
The property is located at 1635 Somerset Rd San Antonio, TX.
What is the asking price?
The asking price for this property is $1,721,352.
What are key features of this property?
This property features: Five tenant strip center offers a diversified income stream.; Built in 2013.; Being sold by original developer.
