Centennial Boulevard Industrial
For Sale
Contact for pricing
1734 Centennial Boulevard, San Antonio, TX 78211
87,450 SF manufacturing/warehouse on 2.97 acres for sale.
Property Size87,450 SF
Lot Size2.97 Acres
Price / SF$66.32
Days on Market115
Property Features for 1734 Centennial Boulevard
General Information
Standard status
Active
Size
87,450 SF
Class
C
Lot size
2.97 Acres
Property subtype
Industrial
Zoning
I-1
Occupancy
46%
Lease Type
NNN
Net Operating Income
$235,750
Building Details
Year Built
1960
Buildings
1
Tenancy
Multi
Listing Agency:
Partners Real Estate
Listed By:
Andrew Alizzi · License #676117
(512) 647-1545
Source:
Crexi
Added: May 15
Changed: Sep 2
Last Checked: Aug 31 at 11:40PM
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 Partners Real Estate
Investment Insights
Based on property information with market context.
Located at 1734 Centennial Blvd in San Antonio, TX, this 87,450 SF masonry manufacturing and warehouse facility is situated on approximately 2.97 acres in the Southside industrial corridor. The property offers approximately 46,785 SF available for immediate occupancy. The facility includes climate control, featuring a 100% climatized warehouse and office, 480V 3-phase power, upgraded LED warehouse lighting, and four dock-high doors serving the vacant Suite A. Clear heights range from approximately 15 to 16 feet in the available space. The property also features a recently renovated two-story office plus mezzanine. The current tenant, LUX Bakery, occupies 41,000 SF under a NNN lease through September 30, 2027, with two 5-year FMV renewal options.
Key Highlights
- ±46,785 SF available for immediate occupancy.
- 100% climatized warehouse and office.
- Investment opportunity with existing tenant (LUX Bakery) under NNN lease through 9/30/2027, plus renewal options.
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
$500,249
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
8.62%
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%
$10,004,980
$10.0M
Cap Rate 7%
$7,146,414
$7.1M
Cap Rate 9%
$5,558,322
$5.6M
Market Conditions
NOI Build-Up for 87,450 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
$787.1K $9.00/SF
− Vacancy
−$72.4K −$0.83/SF
EGI
$714.6K $8.17/SF
− OpEx
−$214.4K −$2.45/SF
NOI
$500.2K $5.72/SF
Area
San Antonio, TX
Vacancy
9.20%
Lease Rate
$9.00 /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%
$10,004,980
Cap Rate 7%
$7,146,414
Cap Rate 9%
$5,558,322
Alternative Uses
Best Use
Warehouse
$8.68M
$7.59M – $10.12M
NOI $607,445 @ 7.0% cap · market cap 10.47%
Second Best
Industrial
$7.15M
$6.25M – $8.34M
NOI $500,249 @ 7.0% cap · market cap 8.62%
Theoretical Best
Office A
$22.31M
$19.52M – $26.02M
NOI $1,561,490 @ 7.0% cap · market cap 26.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
450
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 Industrial 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?
Manufacturing property - 87,450 SF manufacturing/warehouse on 2.97 acres for sale.
Where is this manufacturing property located?
The property is located at 1734 Centennial Boulevard San Antonio, TX.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: ±46,785 SF available for immediate occupancy.; 100% climatized warehouse and office.; Investment opportunity with existing tenant (LUX Bakery) under NNN lease through 9/30/2027, plus renewal options.
