Family Dollar NNN Retail
For Sale
Contact for pricing
2319 CASTROVILLE RD, San Antonio, TX 78237
Absolute NNN lease structure leaves no landlord responsibilities for the owner.
Property Size8,320 SF
Price / SF$176.80
Days on Market49
Property Features for 2319 CASTROVILLE RD
General Information
Standard status
Active
Size
8,320 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$114,000
Building Details
Year Built
2017
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Anchor Point Capital
Listed By:
Eric Vu · License #01913407
Source:
Crexi
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 29 at 4:20PM
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 Anchor Point Capital
Investment Insights
Based on property information with market context.
This 8,320-square-foot retail property is occupied by Family Dollar under an absolute NNN lease. Constructed in 2017, the asset benefits from a corporate guarantee, approximately 7 years of remaining lease term, and six 5-year renewal options with fixed increases. A recent early extension indicates continued tenant commitment to the site.
The property sits at 2319 Castroville Rd in San Antonio, Texas, along a commuter route carrying 11,600 VPD. Castroville Road connects with downtown San Antonio, US-90, and major employment corridors. Surrounding demand drivers identified for the site include Port San Antonio, Joint Base San Antonio-Lackland, and nearby industrial employers. The 1-mile area includes 13,700 people with an average household income of nearly $60,000, while the 3-mile population exceeds 100,000 with an average household income of nearly $55,000.
The property sits at 2319 Castroville Rd in San Antonio, Texas, along a commuter route carrying 11,600 VPD. Castroville Road connects with downtown San Antonio, US-90, and major employment corridors. Surrounding demand drivers identified for the site include Port San Antonio, Joint Base San Antonio-Lackland, and nearby industrial employers. The 1-mile area includes 13,700 people with an average household income of nearly $60,000, while the 3-mile population exceeds 100,000 with an average household income of nearly $55,000.
Key Highlights
- 8,320‑square‑foot retail property built in 2017
- Family Dollar occupies the property under an absolute NNN lease
- Approximately 7 years of lease term remain
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
$126,454
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
8.60%
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%
$2,529,080
$2.5M
Cap Rate 7%
$1,806,486
$1.8M
Cap Rate 9%
$1,405,044
$1.4M
Market Conditions
NOI Build-Up for 8,320 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
$174.7K $21.00/SF
− Vacancy
−$6.1K −$0.74/SF
EGI
$168.6K $20.27/SF
− OpEx
−$42.2K −$5.07/SF
NOI
$126.5K $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%
$2,529,080
Cap Rate 7%
$1,806,486
Cap Rate 9%
$1,405,044
Alternative Uses
Best Use
Specialty Retail
$1.81M
$1.58M – $2.11M
NOI $126,454 @ 7.0% cap · market cap 8.60%
Second Best
Retail
$1.59M
$1.39M – $1.86M
NOI $111,374 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,560 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 78237, TX
36,019
Population
12,998
Households
2.8
Avg Household Size
35
Median Age
6%
College-Educated
64%
High-School Grad
7.1 sq mi
ZIP Area
5,073
Density / Sq Mi
$40,233
Median Household Income
$27,038
Median Earnings
$987
Median Rent
$103,000
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?
NNN property - Absolute NNN lease structure leaves no landlord responsibilities for the owner.
Where is this nnn property located?
The property is located at 2319 CASTROVILLE RD San Antonio, TX.
What is the asking price?
The asking price for this property is $1,471,000.
What are key features of this property?
This property features: 8,320‑square‑foot retail property built in 2017; Family Dollar occupies the property under an absolute NNN lease; Approximately 7 years of lease term remain
