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Property profile & analytics
OFF-MARKET Estimated value $3,865,000
Medical Office Space

1123 Main Ave San Antonio, TX 78212-4740

37,708 SF 1.11 ac lot Built 1960
Entity Owned 9-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US82-1092032
Property summary
AI-generated overview

The Packard Building, a two-story, 36,706 square foot Class B office building, offers flexible space ideal for various uses. Originally built in 1929 and extensively renovated in 2004, this property boasts a strong existing medical tenant mix (cardiology, renal, and physical therapy), making it perfect for medical ancillary services or general office tenants. Three spaces are currently available, ranging from 1,393 to 6,188 contiguous square feet, with the possibility of further subdivision. Suite 209, a 6,188 square foot clinical suite (divisible), and Suite 219, a 5,337 square foot general office suite (divisible), are highlighted. Individual offices are also available for short-term leases. The building features 131 parking spaces (surface and rooftop), elevators, and is conveniently located in the Tobin Hill neighborhood of Midtown North Central, adjacent to San Antonio's central business district and major hospital systems (Metropolitan Methodist, Baptist Medical Center, Children's Hospital, and UT Health). Its location offers easy access to IH-35, Highway 281, IH-37, and IH-10, as well as public transportation. The building's lobby, mechanical, and electrical systems have been recently upgraded. The property sits on 4,115 acres and is zoned C-2NA Commercial. This is a unique opportunity to lease space in a well-maintained, centrally located building with a proven track record.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1960
Total area 37,708 SF
Lot 1.11 ac (48,395 SF)
APN 00380-003-0150
UPID US82-1092032
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Murali Senapathi Physician
  • rainbird Consultant
  • Muhammad Abdullah Physician Medical Clinic
  • Stuart Redding Physician
  • Alpine Healthcare Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$4.09M
Blend (final) Blend
$3.87M
Owner & transaction history
Cn Rei LLC · 9 yrs held
Cn Rei LLC
since 2016
7 recorded transactions
2019
Price N/A
2018
Price N/A
2016
Price N/A
2009
Price N/A
2008
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $5.5M +28.0%
Commercial (general) $5.4M +26.2%
Retail stores $5.1M +17.6%
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