1524 Grayson St San Antonio, TX 78208
- Lifestyle centers
- 7,369 SF
Current Use by Public Records
- Lifestyle centers
Property Details for 1524 Grayson St
- Year built
- 1950
- Property size
- 7,369 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 7,369-square-foot shopping center in San Antonio, Texas, presents a compelling investment opportunity. Located at 1524 E Grayson St, 78208, this multi-tenant retail property boasts a 100% occupancy rate with six diverse tenants, including a mix of service-oriented and internet-resistant businesses. The property, built in 1950 and extensively renovated in 2024, features a prime location near the Broadway Corridor and the Historic Pearl District, benefiting from significant foot traffic and proximity to Fort Sam Houston. Recent renovations exceeding $250,000 included new stucco, exterior paint, awnings, landscaping, parking lot, lighting, and fencing. The property enjoys a strong NOI of $231,167, resulting in a 6.60% cap rate at an asking price of $3,500,000 ($474.96/sq ft). The advantageous C-2 NA zoning, a grandfathered pylon sign, and on-site parking further enhance its value. The property's location benefits from the addition of 281 new apartment units in the nearby Residences at Grayson Heights, and a 100% city tax abatement starting in 2025. This stabilized investment, with leases primarily exceeding $30.00 per square foot, offers potential upside through rent increases and the possibility of subdividing a corner suite. The property's strong tenant mix, high visibility, and strategic location within a thriving area with over $100 million in annual retail sales within a one-mile radius, make it an attractive investment prospect.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- San Antonio
- County
- Bexar
- State
- Texas
- Longitude
- -98.4611
- Latitude
- 29.4432
