2020 construction retail strip center comprising 12,100 SF on 1.5 acres, offered at a 7.01% cap rate. The property is 100% occupied by six tenants on NNN leases with staggered expirations and built-in rent escalations, producing $301,372 in net operating income.
High-visibility location along FM 78 with 242 feet of frontage, 36,730 VPD traffic counts, and dual ingress/egress access points. The property benefits from strong surrounding retail density in the growing Converse submarket of northeast San Antonio.
Diversified tenant roster across service, food, and medical uses including The Light Dental, Tropicana, Converse Nails & Lounge, Elite 7 Game Room, Smokerz Paradise, and SipIt 78. All tenants are on NNN leases with renewal options ranging from one to two 5-year extensions, providing long-term income stability.
Minimal landlord management responsibility given the NNN lease structure with tenants responsible for their pro-rata share of operating expenses. Current operating expense ratio is 24.6% of effective gross income, with a 4.60% general vacancy factor underwritten. Annual rent increases of 2-3% across the rent roll provide organic NOI growth.
Metal-framed, stucco-exterior construction with a TPO roof and slab foundation, representing a low-maintenance physical asset with years of remaining useful life. The site features 62 asphalt parking spaces at a 5.12/1,000 SF ratio, well above typical retail requirements, supporting strong tenant operations and customer accessibility.
Location Overview
Converse is one of the fastest-growing suburbs in the San Antonio MSA, with population up over 19% since 2020. The 1-mile trade area projects 5.3% population and 7.85% household growth through 2031. Over 120,000 residents within 3 miles at a median household income of $81,544.
FM 78 is the primary commercial corridor through Converse, connecting Loop 1604 to IH-10 East. The property benefits from 36,730 VPD, 242 feet of direct frontage, and two dedicated ingress/egress points.
Established national retailers along the corridor include Walmart, H-E-B, Dollar General, and AutoZone. H-E-B has filed for a new $21.2 million store at the Loop 1604 and IH-10 East interchange, further validating retail demand.
JBSA-Randolph is located approximately two miles south and is one of the region's largest employers, generating consistent consumer demand from military families in the Converse, Universal City, and Live Oak communities.
The trade area skews young and family-oriented with a median age of 33.8 and average household size of 3.01. The 5-mile radius includes over 217,000 residents and 78,300 households with an average household income of $92,703.
