Multi-Tenant Retail Anchored by
For Sale
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1903 N Loop 1604 E, San Antonio, TX 78259
Single retail property totals 8,698 square feet and is anchored by Men’s Wearhouse and a newly leased Mediterranean restaurant.
Property Size8,698 SF
Price / SF$426.88
Days on Market108
Property Features for 1903 N Loop 1604 E
General Information
Standard status
Active
Size
8,698 SF
Property subtype
INDUSTRIAL
Listing Agency:
SRS Real Estate Partners - Corporate
(214) 560-3200
Listed By:
Ryan Byrne
(214) 560-3249
Source:
Moodyscre
Added: May 30
Changed: Sep 10
Last Checked: Sep 14 at 11:04AM
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 SRS Real Estate Partners - Corporate
Investment Insights
Based on property information with market context.
This for-sale multi-tenant retail property totals 8,698 square feet and is anchored by Men’s Wearhouse, which has operated at the location since 2007. The property also includes Two Greeks Grill, a Mediterranean restaurant concept that recently signed a new 5-year lease with plans to open in spring 2026.
The asset is being marketed as a long-tenured retail anchor with an additional restaurant tenant under a newly executed term, supporting a streamlined tenant lineup for the site.
The asset is being marketed as a long-tenured retail anchor with an additional restaurant tenant under a newly executed term, supporting a streamlined tenant lineup for the site.
Key Highlights
- Single retail property totals 8,698 SF, anchored by Men’s Wearhouse
- Men’s Wearhouse has operated at this location since 2007
- Two Greeks Grill signed a new 5‑year lease and plans to open in spring 2026
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
$132,199
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
3.56%
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%
$2,643,980
$2.6M
Cap Rate 7%
$1,888,557
$1.9M
Cap Rate 9%
$1,468,878
$1.5M
Market Conditions
NOI Build-Up for 8,698 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
$182.7K $21.00/SF
− Vacancy
−$6.4K −$0.74/SF
EGI
$176.3K $20.27/SF
− OpEx
−$44.1K −$5.07/SF
NOI
$132.2K $15.20/SF
Area
San Antonio, TX
Vacancy
3.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,643,980
Cap Rate 7%
$1,888,557
Cap Rate 9%
$1,468,878
Alternative Uses
Best Use
Specialty Retail
$1.89M
$1.65M – $2.20M
NOI $132,199 @ 7.0% cap · market cap 3.56%
Second Best
Retail
$1.66M
$1.46M – $1.94M
NOI $116,434 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,310 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,875
Businesses Nearby
Explore this area
Business Placement
Demographics for 78259, TX
29,842
Population
11,087
Households
2.7
Avg Household Size
37
Median Age
51%
College-Educated
95%
High-School Grad
15.5 sq mi
ZIP Area
1,925
Density / Sq Mi
$109,429
Median Household Income
$60,923
Median Earnings
$1,554
Median Rent
$370,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in San Antonio, TX
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Frequently Asked Questions
What type of property is this?
Retail space - Single retail property totals 8,698 square feet and is anchored by Men’s Wearhouse and a newly leased Mediterranean restaurant.
Where is this retail space located?
The property is located at 1903 N Loop 1604 E San Antonio, TX.
What is the asking price?
The asking price for this property is $3,713,000.
What are key features of this property?
This property features: Single retail property totals 8,698 SF, anchored by Men’s Wearhouse; Men’s Wearhouse has operated at this location since 2007; Two Greeks Grill signed a new 5‑year lease and plans to open in spring 2026
