712 Castroville Rd San Antonio, TX 78237

Property Details for 712 Castroville Rd

Year built

1956

Lot size

22.13 lot acres

Property size

263,284 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

Las Palmas Shopping Center presents a compelling value-add investment opportunity in San Antonio, Texas. This 260,583 square foot, multi-tenant retail property boasts a prominent location at a signalized intersection on Castroville Road, minutes from downtown. Anchored by H-E-B for over 40 years, the center enjoys exceptional performance, with consistent sales growth (5% annually over 33 years, 10% over the past three). Currently 86% occupied, the diverse tenant mix includes national, regional, and local businesses, offering e-commerce-resistant services and experiences. The nine single-story buildings, constructed in 1956 and renovated in 2000, sit on a 22.13-acre lot. The property benefits from high traffic volume, averaging 3.7 million visitors annually, ranking in the top 94% of Texas shopping centers by total visits. Its location within a dense, mature Hispanic residential area (over 315,000 residents within a five-mile radius) and proximity to major employers like Lackland Air Force Base and Port of San Antonio, ensures strong, sustained demand. High barriers to entry further solidify its market position. The seasoned tenancy, with a weighted average occupancy of over 26 years, contributes to a secure income stream, with 70% of tenant revenue attributed to large, established companies. This well-positioned, grocery-anchored center offers investors a reliable and growing income stream in one of Texas's strongest economies.