San Antonio Shopping Center For
For Sale
Contact for pricing
Pending
8315 Bandera Rd, San Antonio, TX 78250
Value-add shopping center with upside potential in San Antonio, Texas.
Property Size194,501 SF
Lot Size18.30 Acres
Days on Market184
Property Features for 8315 Bandera Rd
General Information
Standard status
Pending
Size
194,501 SF
Lot size
18.30 Acres
Property subtype
Retail
Occupancy
84%
Investment Type
Value Add
Building Details
Year Built
1988
Buildings
4
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Dallas
(512) 338-7800
Listed By:
Philip Levy · License #TX 522087
Source:
Crexi
Added: Feb 20
Changed: Aug 8
Last Checked: Jul 24 at 6:13PM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
Bandera Festival Shopping Center is a 194,501-square-foot multi-tenant community shopping center in San Antonio, Texas. The center is anchored by Crunch Fitness and Dollar Tree, and features a mix of retail, medical, and government businesses with staggered lease expiration dates, and most include scheduled rent increases. The property is 84 percent occupied, and 65 percent of the gross leasable area has triple-net leases. The shopping center consists of two multi-tenant buildings and one single-tenant building on a ground lease with Taco Cabana, situated on an 18.3-acre parcel with paved parking. A double-sided monument sign provides additional exposure. The property is located at the intersection of Bandera Road and Guilbeau Road, with access from multiple ingress and egress points from both streets, with traffic counts of approximately 56,150 vehicles per day. The property is shadow-anchored by H-E-B and catty corner from Walmart Supercenter. Numerous national and regional retailers are nearby, including Buffalo Wild Wings, McDonald's, Advance Auto Parts, KFC, Wendy's Popeyes Louisiana Kitchen, KFC, Valvoline Instant Oil Change, Chase Bank, Goodwill, O'Reilly Auto Parts, T-Mobile, Fantastic Sam's, Chipotle Mexican Grill, and Burger King. Bandera Festival Shopping Center is approximately eight miles from The University of Texas at San Antonio campus, Valero corporate office, and USAA headquarters. The surrounding area has a population of more than 338,730 within a five-mile radius. The average household income is $90,352 within one mile; $89,269 within three miles; and $83,508 within five miles.
Key Highlights
- Value‑add opportunity with 84% occupancy and 65% of GLA under triple‑net leases, offering significant upside potential.
- Anchored by Crunch Fitness and Dollar Tree with a diverse mix of retail, medical, and government tenants.
- Located at a high‑traffic signalized intersection (56,150 VPD) with multiple access points and excellent visibility via a double‑sided monument sign.
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
$2,603,637
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
7.44%
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%
$52,072,740
$52.1M
Cap Rate 7%
$37,194,814
$37.2M
Cap Rate 9%
$28,929,300
$28.9M
Market Conditions
NOI Build-Up for 194,501 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
$3.87M $19.92/SF
− Vacancy
−$155.0K −$0.80/SF
EGI
$3.72M $19.12/SF
− OpEx
−$1.12M −$5.74/SF
NOI
$2.60M $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%
$52,072,740
Cap Rate 7%
$37,194,814
Cap Rate 9%
$28,929,300
Alternative Uses
Best Use
Retail
$37.19M
$32.55M – $43.39M
NOI $2,603,637 @ 7.0% cap · market cap 7.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$49.61M
$43.41M – $57.88M
NOI $3,472,973 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78250, TX
54,933
Population
20,503
Households
2.7
Avg Household Size
37
Median Age
33%
College-Educated
93%
High-School Grad
9.4 sq mi
ZIP Area
5,844
Density / Sq Mi
$80,289
Median Household Income
$41,047
Median Earnings
$1,470
Median Rent
$221,900
Median Home Value
Market
Vacancy Rate% for Retail in San Antonio, TX
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Value-add shopping center with upside potential in San Antonio, Texas.
Where is this shopping center located?
The property is located at 8315 Bandera Rd San Antonio, TX.
What is the asking price?
The asking price for this property is $35,000,000.
What are key features of this property?
This property features: Value‑add opportunity with **84% occupancy and 65% of GLA under triple‑net leases**, offering significant upside potential.; Anchored by **Crunch Fitness and Dollar Tree** with a diverse mix of retail, medical, and government tenants.; Located at a **high‑traffic signalized intersection (56,150 VPD)** with multiple access points and excellent visibility via a double‑sided monument sign.
