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100% Net Leased Two-Tenant Property 180 Springtown Way

6,000 SF 100% Leased Retail Building San Marcos, TX 78666 $3,633,000 ($606/SF) 6% Cap Rate

Investment Highlights

  • Excellent High Traffic Location with Interstate 35 Exposure
  • Close to Major Housing Complexes & Texas State University
  • Stabilized Investment
  • Excellent Demographics in a Thriving Retail Area
  • Quality Tenants in Place
  • 100% Leased

Executive Summary

This Multi-Tenant asset within Springtown Plaza offers the opportunity for an investor to acquire a fully leased retail pad with scheduled rent increases in Austin’s largest suburb. This property is situated in a dominant retail zone less than half a mile from the flagship campus of Texas State University and is outparcel to a mixed-use student housing project. The asset benefits from a strong retail location within a growing retail hub, strong visibility with freeway-visible pylon signage, and excellent demographics. With excellent exposure along Springtown Way and Thorpe Lane near the junction of East Hopkins Street and I-35 (Combined AADT 153,520), an investor will benefit from scheduled increases in income, a diversified income stream, and asset appreciation with this property.

Data Room Click Here to Access

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,000 SF
Building Class
B
Year Built
2017
Price
$3,633,000
Price Per SF
$606
Cap Rate
6%
NOI
$218,016
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Land Acres
0.76 AC
Zoning
GC - General Commercial
Frontage
240 FT on Springtown Way

Amenities

  • Pylon Sign
Walk Score ®
Very Walkable (74)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Five Guys
IHOP
H-E-B
Rent-A-Center
Gold's Gym
HOTWORX
Hopdoddy Burger Bar
Pure Barre
McAlister's Deli
Twin Peaks

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
R94595
Land Assessment
$466,840
Improvements Assessment
$2,243,686
Total Assessment
$2,710,526
  • Listing ID: 33828465

  • Date on Market: 11/11/2024

  • Last Updated:

  • Address: 180 Springtown Way, San Marcos, TX 78666

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