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    2651 Military Dr San Antonio, TX 78224-1048
    Property profile & analytics

    2651 Military Dr San Antonio, TX 78224-1048

    View on Map
    • Office properties & Spaces
    • 59,380 SF
    • 8.16 lot acres
    Off-Market
    Property ID
    US82-2951464
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $6,420,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • MGM Lumber / Big Box & Wholesale Store / Building Supply
    • MG Building Materials / Big Box & Wholesale Store / Building Supply
    • Grothues Brothers Holdings Ltd / Holding Company

    Property Details for 2651 Military Dr

    Year built
    2005
    Lot size
    8.16 lot acres
    Property size
    59,380 SF
    Property type
    Office properties & Spaces
    APN
    12501-012-0080
    APU
    125010120080

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,930,000
      Market price range: $6.93M - $14.7M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Antonio
    County
    Bexar
    State
    Texas
    Longitude
    -98.5386
    Latitude
    29.3575
    CBSA code
    41700
    CBSA name
    SAN ANTONIO, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $152,097
    $1,979,610
    $4,220,390
    $6,200,000
    -
    $1,979,610
    $4,220,390
    $6,200,000

    Comparable in this City

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      2819 Military Dr

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      800 SF

      1131 Gillette Blvd

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      6731 Interstate 35th S

      OFFICE (GENERAL) • 1,638 SF
      6731 Interstate 35th S, San Antonio, TX 78224-1137
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    • Value Estimation
      $4,905,000
      44,411 SF

      2600 Military Dr

      OFFICE (GENERAL) • 44,411 SF
      2600 Military Dr, San Antonio, TX 78224-1012
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Bojangles Ground Lease For Sale

      New Bojangles ground lease in San Antonio, Texas.
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      Land Near Palo Alto College

      Land suitable for mixed-use or multifamily development near universities.
      10222 State Highway 16, San Antonio, TX 78224
      View Details
    • $65,000
      0.49 Acres

      Residential Lot in San Antonio

      Half-acre residential lot, cleared, ready for custom build.
      831 W Villaret Blvd, San Antonio, TX 78224
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    • $700,000
      Pending

      Prime Location Land in San Antonio

      Corner lots with high traffic, fantastic commercial potential.
      10359/10405 Poteet Jourdanton Fwy, San Antonio, TX 78224
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    • New
      $42,507
      0.22 Acres

      Residential Lot in San Antonio

      Prime lot ready for your dream home in San Antonio.
      8530 Wilma Jean Dr, San Antonio, TX 78224
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    Similar Nearby for Lease

    • Contact for pricing
      1,220 SF

      Office Space Near Airport

      Office space for lease near San Antonio International Airport.
      1566 Loop 410 Ne, San Antonio, TX 78224
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      7,599 SF

      Medical Office Space Available

      Class A medical office space for lease on hospital campus.
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    • $24 SF/Yr
      1,720 SF

      Turnkey Medical Space Available

      Second-generation medical space in a vibrant trade area.
      2327 Sw Military Dr, San Antonio, TX 78224
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      1,958 SF

      Medical Office Space Available

      Class A medical office building near restaurants and retailers.
      7719 Interstate 35 S, San Antonio, TX 78224
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      3,500 SF

      Retail Space in South San Antonio

      H-E-B anchored retail center with high visibility.
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    • Contact for pricing
      1,600 SF

      Retail Space in Strip Center

      Retail space available in a strip center with freeway visibility.
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      View Details
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    San Antonio, TX 78224-1048
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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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