Freestanding Retail Office
For Sale
$6,796,552
6723 S Flores, San Antonio, TX 78221
Freestanding retail/office building with 245 parking spaces and long-term tenants, zoned C-3.
Property Size38,728 SF
Lot Size3.02 Acres
Price / SF$175.49
Days on Market45
Property Features for 6723 S Flores
General Information
Standard status
Active
Size
38,728 SF
Total Parking Spaces
245
Lot size
3.02 Acres
Property subtype
Commercial
Zoning
C-3
Occupancy
100%
Building Details
Tenancy
Multi
Listing Agency:
DH Realty Partners, Inc
(210) 509-4911
Listed By:
Michael Hoover (hoover@dhrp.us) · License #391636
Source:
Sanantoniosfinestrealty
Added: Jul 11
Changed: Aug 24
Last Checked: Aug 23 at 6:27AM
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 DH Realty Partners, Inc
Investment Insights
Based on property information with market context.
This fully leased freestanding retail/office building offers stabilized occupancy with a mix of long-term tenants, including Workforce Solutions, City of San Antonio, Tons of Fun, and JC Food Mart. The property totals 38,356 square feet on 3.024 acres and is supported by approximately 245 parking spaces.
The building is positioned for visibility between S. Flores Street and the high-traffic SW Military Drive corridor in South San Antonio. On-site VIA bus service is also available, with access to major transportation routes.
Zoned C-3, the asset sits in an established commercial district near Brooks City Base, South Park Mall, the San Antonio Missions, and the San Antonio River, supported by continued residential and economic growth.
The building is positioned for visibility between S. Flores Street and the high-traffic SW Military Drive corridor in South San Antonio. On-site VIA bus service is also available, with access to major transportation routes.
Zoned C-3, the asset sits in an established commercial district near Brooks City Base, South Park Mall, the San Antonio Missions, and the San Antonio River, supported by continued residential and economic growth.
Key Highlights
- 38,356 SF freestanding retail/office building on 3.024 acres in South San Antonio
- Fully occupied by a mix of long‑term tenants including Workforce Solutions, City of San Antonio, Tons of Fun, and JC Food Mart
- Zoned C‑3
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
$527,819
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
7.77%
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%
$10,556,380
$10.6M
Cap Rate 7%
$7,540,271
$7.5M
Cap Rate 9%
$5,864,656
$5.9M
Market Conditions
NOI Build-Up for 38,728 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
$855.1K $22.08/SF
− Vacancy
−$151.4K −$3.91/SF
EGI
$703.8K $18.17/SF
− OpEx
−$175.9K −$4.54/SF
NOI
$527.8K $13.63/SF
Area
San Antonio, TX
Vacancy
17.70%
Lease Rate
$22.08 /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%
$10,556,380
Cap Rate 7%
$7,540,271
Cap Rate 9%
$5,864,656
Alternative Uses
Best Use
Office B
$7.54M
$6.60M – $8.80M
NOI $527,819 @ 7.0% cap · market cap 7.77%
Second Best
Retail
$7.41M
$6.48M – $8.64M
NOI $518,422 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$9.88M
$8.64M – $11.53M
NOI $691,520 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
866
Businesses Nearby
Explore this area
Business Placement
Demographics for 78221, TX
39,779
Population
14,939
Households
2.7
Avg Household Size
35
Median Age
12%
College-Educated
74%
High-School Grad
36.3 sq mi
ZIP Area
1,096
Density / Sq Mi
$63,114
Median Household Income
$33,439
Median Earnings
$1,147
Median Rent
$157,500
Median Home Value
Market
Vacancy Rate% for Office in San Antonio, TX
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Freestanding retail/office building with 245 parking spaces and long-term tenants, zoned C-3.
Where is this retail space located?
The property is located at 6723 S Flores San Antonio, TX.
What is the asking price?
The asking price for this property is $6,796,552.
What are key features of this property?
This property features: 38,356 SF freestanding retail/office building on 3.024 acres in South San Antonio; Fully occupied by a mix of long‑term tenants including Workforce Solutions, City of San Antonio, Tons of Fun, and JC Food Mart; Zoned C‑3
