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    Property profile & analytics

    815 Bandera Rd San Antonio, TX 78228

    • Retail properties
    • 60,840 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bar Mosaico / Bar / Mexican Restaurant
    • Lisa's Mexican Restaurant / Mexican Restaurant / Lounge

    Property Details for 815 Bandera Rd

    Property size
    60,840 SF
    Property type
    Retail properties

    Description

    Varsity Village, located at 815 Bandera Rd, San Antonio, TX 78228, presents a prime retail opportunity in Bexar County. This established neighborhood center boasts a total of 60,840 square feet of retail space, offering exceptional flexibility for businesses of various sizes. Currently, there are multiple spaces available, with a minimum divisible space of 1,400 square feet and a maximum contiguous space of 10,000 square feet. A significant 28,463 square feet is currently vacant, providing ample opportunity for expansion or new tenancy. The property is strategically positioned at a high-traffic intersection, directly across from a Walmart Supercenter, ensuring high visibility and substantial foot traffic. This advantageous location, coupled with the available space options, makes Varsity Village an ideal location for businesses seeking a strong presence in a thriving San Antonio community. The property's address is easily accessible via Bandera Road and Woodland Ave. The "white box" retail spaces offer a blank canvas for tenants to customize their ideal retail environment. This presents a unique opportunity to establish a strong brand presence in a well-established and highly visible location. Inquire today to learn more about the available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    San Antonio
    County
    Bexar
    State
    Texas
    Longitude
    -98.5543
    Latitude
    29.4564

    Comparable in this City

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      6,464 SF

      4625 Centerview Dr

      Individual retail properties • 6,464 SF
      4625 Centerview Dr, San Antonio, TX 78228
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    • Value Estimation
      $2,035,000
      63,717 SF

      817 Bandera Rd

      MINI-MALL • 63,717 SF
      817 Bandera Rd, San Antonio, TX 78228-5227
      View Details
    • Value Estimation
      $805,000
      4,776 SF

      926 Bandera Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,776 SF
      926 Bandera Rd, San Antonio, TX 78228-4923
      View Details
    • Value Estimation
      $695,000
      10,533 SF

      4151 Callaghan Rd

      SHOPPING CENTER, STRIP CENTER • 10,533 SF
      4151 Callaghan Rd, San Antonio, TX 78228-3419
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Bandera Road Retail Center

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      San Antonio Brevity Coffee Investment

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      Retail/Office Space For Sale

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    Similar Nearby for Lease

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      60,840 SF

      Varsity Village Retail Space for Lease

      San Antonio retail center, flexible spaces available.
      815 Bandera Rd, San Antonio, TX 78228
      View Details
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      Manor Drive Retail Space Available

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      Retail Space in San Antonio

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      1571-1589 Bandera Rd, San Antonio, TX 78228
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      9,040 SF

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      Retail Space on Bandera Road

      1,080 SF in-line retail space available for lease.
      11650 Bandera Rd, San Antonio, TX 78228
      View Details
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    815 Bandera Rd
    San Antonio, TX 78228
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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
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