Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4646 W Commerce St San Antonio, TX 78237

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Single-tenant NNN property with Whataburger corporate lease and rental increases.

    Property size:
    2,758 SF
    Lot size:
    0.61 Acres

    Property Features for 4646 W Commerce St

    General Information

    Standard status
    Active
    Zoning
    C-3R
    Size
    2,758 SF
    Lot size
    0.61 Acres

    Building Details

    Year built
    1976

    We can help!

    Listing Contact
    Webb Sellers
    Source: Crexi

    Listing Agency: SRS Real Estate Partners SAN ANTONIO Listing Agent: Webb Sellers

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Whataburger NNN Investment Opportunity

    Located at 4646 W Commerce Street in San Antonio, Texas, this single-tenant absolute NNN property is an investment opportunity with over 8 years remaining on the lease, scheduled rental increases, and options to extend. The corporate lease is with Whataburger Restaurants, LLC. The property features a 6.00% cap rate and $497,318 in net operating income. The property size is 2,758 SF on approximately 0.61 acres. The tenant is responsible for all expenses. Situated at a signalized, hard corner intersection averaging over 50,200 vehicles daily, the property has high visibility and synergy from nearby retailers like Planet Fitness, Ross, and Walgreens in the Crosstowne Mercado. The location benefits from a strong demographic base of over 320,500 residents and 186,000 employees within the 5-mile trade area.
    Location Intelligence

    Current Use by Public Records

    Whataburger Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Antonio
    County
    Comal
    State
    Texas
    Longitude
    -98.5537656
    Latitude
    29.430345

    Nearby Similar for Sale

    • $492,880
      6,161 SF

      San Antonio Commercial Nightclub Opportunity

      6,161 sq ft commercial building near Downtown San Antonio.
      3239 W Commerce St, San Antonio, TX 78207
      View Details
    • $495,000
      2,724 SF

      San Antonio Townhomes For Sale

      Northeast San Antonio townhomes near major highways and military bases.
      13910 Annas Way, San Antonio, TX 78233
      View Details
    • New
      $724,990
      3,550 SF

      Modern Duplex Near Alamodome

      Three-story duplex in Denver Heights, suitable for various uses.
      125 Dashiell St, San Antonio, TX 78203
      View Details
    • $850,000
      5,800 SF

      Renovated Multifamily Building Near Lackland

      Fully renovated 8-unit apartment building in San Antonio, Texas.
      2807 Observation Dr, San Antonio, TX 78227
      View Details
    • New
      $499,000
      2,586 SF

      Alamo Heights Multifamily Investment Opportunity

      Multifamily property in desirable Alamo Heights, San Antonio.
      6715 Broadway St, San Antonio, TX 78209
      View Details
    • New
      $685,000
      7,484 SF

      San Antonio Multifamily Investment Opportunity

      Value-add 8-plex near downtown San Antonio.
      1409 W Woodlawn Ave, San Antonio, TX 78201
      View Details
    • New
      $415,000
      2,648 SF

      San Antonio Duplex Investment Opportunity

      Turnkey duplex in gated community, ideal for investors.
      6642 Mia Way, San Antonio, TX 78233
      View Details
    • $730,000
      5,060 SF

      Income-Producing Fourplex in San Antonio

      Fully leased fourplex with strong cash flow in prime location.
      7815 Kingsbury Wood, San Antonio, TX 78240
      View Details
    • $480,000
      2,599 SF

      San Antonio Multifamily Investment Opportunity

      Seven-unit multifamily property in San Antonio's growing South Side.
      403 Terrell Ave, San Antonio, TX 78214
      View Details
    • $1,200,000
      2,640 SF

      San Antonio Commercial Car Wash

      Car wash ready for new owner or redevelopment opportunity.
      7850 Callaghan Rd, San Antonio, TX 78229
      View Details
    • $890,000
      3,196 SF

      Furnished Fourplex Near Downtown San Antonio

      Reimagined, fully furnished fourplex near downtown San Antonio. Turnkey property.
      422 Gulf, San Antonio, TX 78202
      View Details
    • $699,000
      8,808 SF

      San Antonio Multifamily Investment Opportunity

      Multi-unit property near Alamodome, ideal for investors.
      412 S Hackberry St, San Antonio, TX 78203
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - Single-tenant NNN property with Whataburger corporate lease and rental increases.
    Where is this drive through restaurant located?
    The property is located at 4646 W Commerce St San Antonio, TX.
    What are key features of this property?
    This property features: - Absolute NNN lease with Whataburger Restaurants, LLC, providing a passive investment opportunity.; - Over 8 years remaining on the lease with scheduled rental increases and options to extend.; - **6.00% cap rate and $497,318 net operating income.**
    Request Owner's contact information
    4646 W Commerce St San Antonio, TX 78237
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4646 W Commerce St
    San Antonio, TX 78237
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4646 W Commerce St San Antonio, TX 78237
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Webb Sellers
    Real Estate License ID: 589055
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!