Pet Care Franchise Retail
For Sale
Contact for pricing
3814 BROADWAY, San Antonio, TX 78215
Fee simple retail facility leased to Dogtopia with remaining term and scheduled annual rent escalations.
Property Size7,128 SF
Price / SF$359.15
Days on Market86
Property Features for 3814 BROADWAY
General Information
Standard status
Active
Size
7,128 SF
Total Parking Spaces
25
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$191,957
Additional Details
Traffic Count
29,000 vehicles/day
Building Details
Year Built
1960
Year Renovated
2022
Stories
1
Tenancy
Single
Listing Agency:
JLL Austin
Listed By:
Kirby Hayes · License #TX 755222
Source:
Crexi
Added: Jun 12
Changed: Aug 25
Last Checked: Sep 3 at 4:10AM
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 JLL Austin
Investment Insights
Based on property information with market context.
The property is a Dogtopia pet care facility offered in fee simple, totaling 7,128 rentable square feet. Dogtopia entered into a 10-year lease in February 2021, with 6.6 years remaining as of the offering, and includes 2.50% annual rental escalations. The lease structure is described as having minimal landlord responsibilities, supporting a straightforward ownership profile through the current lease term.
The asset is positioned along Broadway in a dense retail corridor with visibility to more than 29,000 vehicles per day. The surrounding area includes national and regional retailers such as Chipotle, CVS Pharmacy, IHOP, Texaco, Whataburger, Potbelly, and Starbucks, among others, providing an active commercial setting in central San Antonio.
For tenants and investors, the property offers a purpose-built retail storefront solution aligned with a pet care services operator. Ownership provides remaining lease term certainty under the existing arrangement, along with two additional 5-year renewal options as outlined in the offering materials. Dogtopia, operating nearly 300 locations in North America, also maintains a stated growth plan to reach 400 units by 2027, supporting the brand’s continuing presence in the pet care category.
The asset is positioned along Broadway in a dense retail corridor with visibility to more than 29,000 vehicles per day. The surrounding area includes national and regional retailers such as Chipotle, CVS Pharmacy, IHOP, Texaco, Whataburger, Potbelly, and Starbucks, among others, providing an active commercial setting in central San Antonio.
For tenants and investors, the property offers a purpose-built retail storefront solution aligned with a pet care services operator. Ownership provides remaining lease term certainty under the existing arrangement, along with two additional 5-year renewal options as outlined in the offering materials. Dogtopia, operating nearly 300 locations in North America, also maintains a stated growth plan to reach 400 units by 2027, supporting the brand’s continuing presence in the pet care category.
Key Highlights
- Fee simple retail facility leased to Dogtopia (tenant) at 3814 Broadway, San Antonio, TX 78209
- 7,128 rentable SF; 10‑year lease executed in February 2021 with about 6.6 years remaining
- 2.50% annual rental escalations included in the lease
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
$95,417
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
3.73%
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%
$1,908,340
$1.9M
Cap Rate 7%
$1,363,100
$1.4M
Cap Rate 9%
$1,060,189
$1.1M
Market Conditions
NOI Build-Up for 7,128 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
$142.0K $19.92/SF
− Vacancy
−$5.7K −$0.80/SF
EGI
$136.3K $19.12/SF
− OpEx
−$40.9K −$5.74/SF
NOI
$95.4K $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 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%
$1,908,340
Cap Rate 7%
$1,363,100
Cap Rate 9%
$1,060,189
Alternative Uses
Best Use
Retail
$1.36M
$1.19M – $1.59M
NOI $95,417 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,276 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
29,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
Explore this area
Business Placement
Demographics for 78215, TX
3,644
Population
3,029
Households
1.2
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.1 sq mi
ZIP Area
3,313
Density / Sq Mi
$82,128
Median Household Income
$75,532
Median Earnings
$1,754
Median Rent
$486,100
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 - Fee simple retail facility leased to Dogtopia with remaining term and scheduled annual rent escalations.
Where is this retail space located?
The property is located at 3814 BROADWAY San Antonio, TX.
What is the asking price?
The asking price for this property is $2,560,000.
What are key features of this property?
This property features: Fee simple retail facility leased to Dogtopia (tenant) at 3814 Broadway, San Antonio, TX 78209; 7,128 rentable SF; 10‑year lease executed in February 2021 with about 6.6 years remaining; 2.50% annual rental escalations included in the lease
