Corner Lot Retail
For Sale
Contact for pricing
2423/2415 Palo Alto Rd San Antonio, San Antonio, TX 78211
Vacant retail property on a highly visible corner lot with grade-level access and window unit HVAC.
Property Size2,650 SF
Lot Size0.43 Acres
Price / SF$169.81
Days on Market161
Property Features for 2423/2415 Palo Alto Rd San Antonio
General Information
Standard status
Active
Size
2,650 SF
Class
C
Lot size
0.43 Acres
Property subtype
Retail
Zoning
C-3, R-4
Building Details
Year Built
1970
Year Renovated
1970
Buildings
1
Listing Agency:
Crossed Sabers Commercial Real Estate LLC
Listed By:
Will Curtis · License #627466
Source:
Crexi
Added: Mar 31
Changed: Aug 22
Last Checked: Sep 6 at 11:43PM
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 Crossed Sabers Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
This for-sale dual-property retail opportunity consists of two buildings on a highly visible corner lot. The structures were originally built in 1954 and updated in 1970, and they offer functional grade-level retail space. Each building features window unit HVAC and flexible layouts suitable for a range of commercial uses.
The combined site is positioned for easy access and visibility from Palo Alto Rd and adjacent streets. Zoning is C-3 and R-4, supporting retail, service, or mixed-use development. The property is currently vacant, providing flexibility for immediate occupancy or redevelopment plans.
The combined site is positioned for easy access and visibility from Palo Alto Rd and adjacent streets. Zoning is C-3 and R-4, supporting retail, service, or mixed-use development. The property is currently vacant, providing flexibility for immediate occupancy or redevelopment plans.
Key Highlights
- Vacant dual‑property retail site at 2423 & 2415 (Vincent), on a highly visible corner lot with grade‑level access
- Approximately 0.43 acres with combined retail space of about 2,560–2,650 SF
- Built in 1954 with updates in 1970; functional retail structures with flexible layouts
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
$35,474
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
7.88%
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%
$709,480
$709.5K
Cap Rate 7%
$506,771
$506.8K
Cap Rate 9%
$394,156
$394.2K
Market Conditions
NOI Build-Up for 2,650 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
$52.8K $19.92/SF
− Vacancy
−$2.1K −$0.80/SF
EGI
$50.7K $19.12/SF
− OpEx
−$15.2K −$5.74/SF
NOI
$35.5K $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%
$709,480
Cap Rate 7%
$506,771
Cap Rate 9%
$394,156
Alternative Uses
Best Use
Retail
$506.8K
$443.4K – $591.2K
NOI $35,474 @ 7.0% cap · market cap 7.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$676.0K
$591.5K – $788.6K
NOI $47,318 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
228
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
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Frequently Asked Questions
What type of property is this?
Retail space - Vacant retail property on a highly visible corner lot with grade-level access and window unit HVAC.
Where is this retail space located?
The property is located at 2423/2415 Palo Alto Rd San Antonio San Antonio, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Vacant dual‑property retail site at 2423 & 2415 (Vincent), on a highly visible corner lot with grade‑level access; Approximately 0.43 acres with combined retail space of about 2,560–2,650 SF; Built in 1954 with updates in 1970; functional retail structures with flexible layouts
