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    The Largest CRE Database in the US with Over 1 Million Listings

    1918 Military Dr San Antonio, TX 78221

    Sponsored
    For Lease
    Contact for pricing

    Established Shopping Center, High Traffic Area

    Lot size:
    58,215 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    421
    Mayan Shopping Center presents a compelling investment opportunity in Bexar County. This established, 58,215 square foot shopping center boasts a prime location at the heavily trafficked intersection of SW Military Drive and IH-35, ensuring high visibility and substantial foot traffic. The center comprises five single-story buildings, totaling 16 suites. Currently, the center is anchored by a theater and features a diverse mix of established tenants including Sherwin Williams, Geico, Sylvan Learning Center, 210 Sports Bar, Visionworks, and Health Texas, among others. This strong tenant mix demonstrates the center's enduring appeal and consistent occupancy. The property attracts over 600,000 visitors annually, creating a robust customer base for potential tenants. Two spaces are currently available, ranging from 2,600 to 3,825 square feet, presenting ideal opportunities for a variety of businesses, particularly those in the entertainment, service, or restaurant sectors. The property's strategic location and established tenant base make it an attractive investment with significant potential for growth and return. This is a rare opportunity to acquire a well-positioned, thriving shopping center in a high-demand area.

    Property Features for 1918 Military Dr

    General Information

    Property type
    Lifestyle centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    58,215 SF

    Building Details

    Buildings
    5
    Stories
    1

    Spaces For Lease

    at 1918 Military Dr, San Antonio, TX 78221 Contact us

    We can help!

    Listing Contact
    Jared Davis
    Jared Davis

    Learn more

    Property Insight Report

    HighLights

    • 58,215 SF shopping center in Bexar County.
    • Multi‑tenant property with 16 suites across 5 one‑story buildings.
    • Two available spaces ranging from 2,600 to 3,825 square feet.
    • Strategically located at the high‑traffic intersection of SW Military Dr. and IH‑35.
    • Strong tenant roster including Sherwin Williams, Geico, and others.
    • Attracts over 600,000 annual visitors.
    Property Profile Location Intelligence

    Current Use by Public Records

    Santikos Entertainment Mayan ... Cinema

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    San Antonio
    County
    Bexar
    State
    Texas
    Longitude
    -98.5235285
    Latitude
    29.3549636

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    FAQs

    What type of property is this?
    Lifestyle center - Established Shopping Center, High Traffic Area
    Where is this lifestyle center located?
    The property is located at 1918 Military Dr San Antonio, TX.
    What are key features of this property?
    This property features: 58,215 SF shopping center in Bexar County.; Multi-tenant property with 16 suites across 5 one-story buildings.; Two available spaces ranging from 2,600 to 3,825 square feet.
    (210) 702-3956
    Request Owner's contact information
    1918 Military Dr San Antonio, TX 78221
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    San Antonio, TX 78221
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    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
    1918 Military Dr San Antonio, TX 78221
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    We can help!
    Listing Contact
    Jared Davis
    Jared Davis
    Real Estate License ID: 687518
    (210) 702-3956
    Learn more
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