Conviva Care Center | 122 Saint Cloud Rd
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Conviva Care Center 122 Saint Cloud Rd
15,003 SF Office Building San Antonio, TX 78228 $6,500,000 ($433.25/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Investment Grade Credit Tenant - (NYSE: HUM)
- Over 8 Lease Years Remaining in Primary Term - New 2021 Construction
- Positioned Along St Cloud Rd Between Bandera Rd & W Woodlawn Ave - Over 33,000 Aggregate VPD
- #1 Nation’s Largest, Fastest-Growing Senior Primary Care Provider (Humana’s PCO)
- New Roof Installed in 2021 with 20-Year Roof Warranty
- Close Proximity to Downtown San Antonio – MSA Population Exceeding 2.7 Million
EXECUTIVE SUMMARY
The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to acquire a single-tenant net leased Conviva Care Center in San Antonio, TX. Conviva Care Center is a wholly-owned subsidiary of Humana, Inc. (NYSE: HUM), which operates over 340 care centers across the country and serves over 390,000 seniors. The net lease has over 8.4 lease years remaining in the primary term with four 5-year option periods, rental increases every 5 years, and minimal landlord responsibilities, providing inflation-resistant cash flows for years to come.
The 15,003 SF building on a large 1.76-acre parcel is strategically positioned on St Cloud Road between Bandera Road and W Woodlawn Avenue which have a combined traffic count exceeding 33,000 VPD. Additionally, the subject property is a mile from St Mary’s University, the 135-acre private Roman Catholic University with a student enrollment of nearly 2,000. Downtown San Antonio is only 5 miles from the subject property and has an MSA population exceeding 2.7 million. Nearby retailers include Walmart Supercenter, McDonald’s, Raising Cane’s, Jack in the Box, Dutch Bros Coffee, CVS Pharmacy, Chase Bank and more.
This is an excellent opportunity to purchase a medical/retail asset in San Antonio, TX with an investment grade credit tenant, rent increases, and a net lease.
The 15,003 SF building on a large 1.76-acre parcel is strategically positioned on St Cloud Road between Bandera Road and W Woodlawn Avenue which have a combined traffic count exceeding 33,000 VPD. Additionally, the subject property is a mile from St Mary’s University, the 135-acre private Roman Catholic University with a student enrollment of nearly 2,000. Downtown San Antonio is only 5 miles from the subject property and has an MSA population exceeding 2.7 million. Nearby retailers include Walmart Supercenter, McDonald’s, Raising Cane’s, Jack in the Box, Dutch Bros Coffee, CVS Pharmacy, Chase Bank and more.
This is an excellent opportunity to purchase a medical/retail asset in San Antonio, TX with an investment grade credit tenant, rent increases, and a net lease.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Building Size
15,003 SF
Building Class
B
Year Built
2021
Price
$6,500,000
Price Per SF
$433.25
Cap Rate
6%
NOI
$390,000
Tenancy
Single
Building Height
1 Story
Typical Floor Size
15,003 SF
Building FAR
0.20
Lot Size
1.76 AC
Zoning
F1 - Commercial
Parking
24 Spaces (1.6 Spaces per 1,000 SF Leased)
AMENITIES
- Courtyard
- Signage
- Monument Signage
Walk Score®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 08340-009-0400 | Improvements Assessment | $3,750,180 |
| Land Assessment | $758,220 | Total Assessment | $4,508,400 |
PROPERTY TAXES
Parcel Number
08340-009-0400
Land Assessment
$758,220
Improvements Assessment
$3,750,180
Total Assessment
$4,508,400
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Conviva Care Center | 122 Saint Cloud Rd
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