Shopping Center with Medical
New
For Sale
Contact for pricing
6623 S Zarzamora St, San Antonio, TX 78211
Multi-tenant retail property includes a fully built-out medical office suite and established retail surroundings.
Property Size39,759 SF
Lot Size2.01 Acres
Price / SF$138.33
Days on Market7
Property Features for 6623 S Zarzamora St
General Information
Standard status
Active
Size
39,759 SF
Lot size
2.01 Acres
Property subtype
Retail
Occupancy
69%
Investment Type
Value Add
Net Operating Income
$235,608
Site & Location
Traffic Count
110,400 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1965
Year Renovated
2020
Tenancy
Multi
Listing Agency:
CBRE - San Antonio
Listed By:
Bradley Suttle · License #TX 633838
(210) 253-6035
Source:
Crexi
Added: Aug 27
Changed: Sep 1
Last Checked: Sep 1 at 10:15PM
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 CBRE - San Antonio
Investment Insights
Based on property information with market context.
Zarzamora Crossing is a multi-tenant shopping center containing approximately 39,759 square feet on approximately 2.01 acres. The property includes approximately 12,342 square feet of fully built-out medical office space within a large contiguous suite, offering a substantial existing improvement for occupancy or tenanting. Constructed in 1965, the center occupies a signalized intersection at W. Pyron Avenue and S. Zarzamora Street in San Antonio.
Retail context includes direct positioning across from H-E-B plus! and proximity to South Park Mall, which contains approximately 790,000 square feet. Interstate 35 provides immediate access and carries approximately 110,400 vehicles per day. Nearly 270,000 residents live within five miles, adding substantial population density to the surrounding trade area.
Retail context includes direct positioning across from H-E-B plus! and proximity to South Park Mall, which contains approximately 790,000 square feet. Interstate 35 provides immediate access and carries approximately 110,400 vehicles per day. Nearly 270,000 residents live within five miles, adding substantial population density to the surrounding trade area.
Key Highlights
- Approximately 39,759 square feet on approximately 2.01 acres
- Approximately 12,342 square feet of fully built‑out medical office space
- Signalized intersection at W. Pyron Avenue and S. Zarzamora Street
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
$458,596
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
8.34%
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%
$9,171,920
$9.2M
Cap Rate 7%
$6,551,371
$6.6M
Cap Rate 9%
$5,095,511
$5.1M
Market Conditions
NOI Build-Up for 39,759 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
$858.8K $21.60/SF
− Vacancy
−$94.5K −$2.38/SF
EGI
$764.3K $19.22/SF
− OpEx
−$305.7K −$7.69/SF
NOI
$458.6K $11.53/SF
Area
San Antonio, TX
Vacancy
11.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$9,171,920
Cap Rate 7%
$6,551,371
Cap Rate 9%
$5,095,511
Alternative Uses
Best Use
Office B
$7.74M
$6.77M – $9.03M
NOI $541,871 @ 7.0% cap · market cap 9.85%
Second Best
Retail
$7.60M
$6.65M – $8.87M
NOI $532,224 @ 7.0% cap · market cap 9.68%
Theoretical Best
Office A
$10.14M
$8.87M – $11.83M
NOI $709,929 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
110,400 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
816
Businesses Nearby
Well-served
Demand for This Use
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 Office in San Antonio, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- South Park Mall — 2310 SW Military Dr, San Antonio, TX 78224
- Alison's Corner Shopping Center — Home Depot, 2716 SW Military Dr, San Antonio, TX 78224
- 2600 Plaza — 2600 SW Military Dr, San Antonio, TX 78224
- Sunglass Hut at Macy's — 2310 SW Military Dr, San Antonio, TX 78224
- South Park Village — 7010 S Zarzamora St, San Antonio, TX 78224
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail property includes a fully built-out medical office suite and established retail surroundings.
Where is this shopping center located?
The property is located at 6623 S Zarzamora St San Antonio, TX.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Approximately 39,759 square feet on approximately 2.01 acres; Approximately 12,342 square feet of fully built‑out medical office space; Signalized intersection at W. Pyron Avenue and S. Zarzamora Street
