Two-Story Retail and Medical
For Sale
Contact for pricing
Pending
8522 Broadway, San Antonio, TX 78217
Two-story shopping center anchored by First National Bank of Texas with paved parking and 25 covered spaces.
Property Size39,333 SF
Lot Size2.43 Acres
Days on Market165
Property Features for 8522 Broadway
General Information
Standard status
Pending
Size
39,333 SF
Lot size
2.43 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Site & Location
Traffic Count
242,500 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2006
Year Renovated
2018
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Dallas
Listed By:
Philip Levy · License #TX 522087
(972) 755-5225
Source:
Crexi
Added: Mar 25
Changed: Aug 18
Last Checked: Aug 17 at 6:22AM
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.
Broadway Street Retail Center is a 39,333-square-foot, two-story shopping center on a 2.43-acre parcel. Constructed in 2006 and renovated in 2018, the building offers a mix of retail, medical, and office suites. The center is 100 percent occupied and anchored by First National Bank of Texas, with additional tenants including Concentra Urgent Care, San Antonio Office Partners, Shelton Dental, Johnson Fitness & Wellness, Capo's Pizzeria, Broadway Nails & Lashes, and Dunhill Partners.
The property is positioned on a signalized hard corner with direct frontage on Broadway and immediate access to Loop 410 (Connally Loop) frontage road. It provides ample paved parking, including 25 dedicated covered spaces. Adjacent Chili's Grill & Bar and Wells Fargo pad sites are not part of the subject property and contribute toward common area maintenance expenses.
Cumulative traffic counts exceed 242,500 vehicles per day. The center also benefits from proximity to major regional demand drivers, including the San Antonio International Airport complex and the Northeast Baptist Hospital.
The property is positioned on a signalized hard corner with direct frontage on Broadway and immediate access to Loop 410 (Connally Loop) frontage road. It provides ample paved parking, including 25 dedicated covered spaces. Adjacent Chili's Grill & Bar and Wells Fargo pad sites are not part of the subject property and contribute toward common area maintenance expenses.
Cumulative traffic counts exceed 242,500 vehicles per day. The center also benefits from proximity to major regional demand drivers, including the San Antonio International Airport complex and the Northeast Baptist Hospital.
Key Highlights
- 39,333‑SF, two‑story Broadway Street Retail Center on a 2.43‑acre parcel in San Antonio
- Built in 2006 and renovated in 2018, with a mix of retail, medical, and office suites
- 100% occupied and anchored by First National Bank of Texas; tenants include Concentra Urgent Care and Shelton Dental
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
$597,812
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
5.17%
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%
$11,956,240
$12.0M
Cap Rate 7%
$8,540,171
$8.5M
Cap Rate 9%
$6,642,356
$6.6M
Market Conditions
NOI Build-Up for 39,333 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
$826.0K $21.00/SF
− Vacancy
−$28.9K −$0.74/SF
EGI
$797.1K $20.27/SF
− OpEx
−$199.3K −$5.07/SF
NOI
$597.8K $15.20/SF
Area
San Antonio, TX
Vacancy
3.50%
Lease Rate
$21.00 /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%
$11,956,240
Cap Rate 7%
$8,540,171
Cap Rate 9%
$6,642,356
Alternative Uses
Best Use
Specialty Retail
$8.54M
$7.47M – $9.96M
NOI $597,812 @ 7.0% cap · market cap 5.17%
Second Best
Office B
$7.66M
$6.70M – $8.93M
NOI $536,065 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$10.03M
$8.78M – $11.71M
NOI $702,322 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
242,500 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,916
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78217, TX
33,562
Population
16,179
Households
2.1
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
10.1 sq mi
ZIP Area
3,323
Density / Sq Mi
$56,852
Median Household Income
$33,931
Median Earnings
$1,186
Median Rent
$216,100
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?
Shopping center - Two-story shopping center anchored by First National Bank of Texas with paved parking and 25 covered spaces.
Where is this shopping center located?
The property is located at 8522 Broadway San Antonio, TX.
What is the asking price?
The asking price for this property is $11,574,000.
What are key features of this property?
This property features: 39,333‑SF, two‑story Broadway Street Retail Center on a 2.43‑acre parcel in San Antonio; Built in 2006 and renovated in 2018, with a mix of retail, medical, and office suites; 100% occupied and anchored by First National Bank of Texas; tenants include Concentra Urgent Care and Shelton Dental
