San Antonio Retail Investment
2310 SW Military Dr, San Antonio, TX 78224
For Sale
Contact for pricing
NN leased Dick's Sporting Goods in San Antonio, Texas.
Property Size50,230 SF
Price / SF$168.74
Days on Market288
Property Features for 2310 SW Military Dr
General Information
Standard status
Size
Property subtype
Zoning
Lease Type
Investment Type
Net Operating Income
Site & Location
Neighborhood
Building Details
Year Built
Tenancy
Listing Agency:
SRS Real Estate Partners Newport Beach
Listed By:
Patrick R. Luther, CCIM · License TX #01912215
(480) 221-4221
Source:
Crexi
Added: Jan 28
Changed: Oct 26
Last Checked: Nov 10 at 7:40AM
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 Newport Beach
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Investment Insights
Based on property information with market context.
This is an opportunity to acquire a fee simple interest in a net-net (NN) leased Dick's Sporting Goods investment property in San Antonio, Texas. The tenant, Dick’s Sporting Goods, Inc., recently signed a 5-year lease extension with 3 (5-year) options to extend. The lease includes rental increases of $0.50/SF/YR at the beginning of each option period. The lease is NN with limited landlord responsibilities. The Dick’s Sporting Goods is located near the intersection of Interstate 35 and SW Military Dr, with a combined average of over 122,300 vehicles passing by daily. SW Military Dr is a major retail thoroughfare serving the city of San Antonio. The Dick’s is part of South Park Mall, a shopping mall with over 783,000 square feet, that also features national/credit tenants including Macy’s, JCPenney, Floor & Decor, Ulta Beauty, Starbucks, and Verizon. The asset is located in close proximity to a Home Depot anchored center that includes other national/credit tenants such as Ross, Five Below, Chick-fil-A, and IHOP. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Lowe’s, Academy, Sam’s Club, Target, H-E-B, Chipotle, and Dutch Bros. The asset is located in close proximity to South San Antonio High School, which has a student population of over 1,600. The 5-mile trade area is supported by a population of over 226,000 residents and 77,600 employees with an average household income of $64,107. The property size is 50,230 square feet.
Key Highlights
- NN lease with limited landlord responsibilities: ideal for passive investors.
- Dick's Sporting Goods commitment: recently signed a 5‑year lease extension with 3 (5‑year) options to extend.
- Rental increases: lease features $0.50/SF/YR rental increases at the beginning of each option period.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$672,391
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,447,820
$13.4M
Cap Rate 7%
$9,605,586
$9.6M
Cap Rate 9%
$7,471,011
$7.5M
Market Conditions
NOI Build-Up for 50,230 SF
Gross rent
$1.00M $19.92/SF
− Vacancy
−$40.0K −$0.80/SF
EGI
$960.6K $19.12/SF
− OpEx
−$288.2K −$5.74/SF
NOI
$672.4K $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 Rate 5%
$13,447,820
Cap Rate 7%
$9,605,586
Cap Rate 9%
$7,471,011
Alternative Uses
Best Use
Retail
$9.61M
$8.40M – $11.21M
NOI $672,391 @ 7.0% cap · market cap 7.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.81M
$11.21M – $14.95M
NOI $896,897 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
868
Businesses Nearby
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Business Placement
Demographics for 78224, TX
21,759
Population
7,034
Households
3.1
Avg Household Size
31
Median Age
12%
College-Educated
76%
High-School Grad
15.3 sq mi
ZIP Area
1,422
Density / Sq Mi
$57,965
Median Household Income
$33,535
Median Earnings
$1,132
Median Rent
$138,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in San Antonio, TX
Properties on Market for Retail space in San Antonio
Vacancy Rate% for Retail in San Antonio, TX
Frequently Asked Questions
What type of property is this?
Retail space - NN leased Dick's Sporting Goods in San Antonio, Texas.
Where is this retail space located?
The property is located at 2310 SW Military Dr San Antonio, TX.
What is the asking price?
The asking price for this property is $8,476,000.
What are key features of this property?
This property features: NN lease with limited landlord responsibilities: ideal for passive investors.; Dick's Sporting Goods commitment: recently signed a 5‑year lease extension with 3 (5‑year) options to extend.; Rental increases: lease features $0.50/SF/YR rental increases at the beginning of each option period.
