100% Net Leased Two-Tenant Property | 180 Springtown Way
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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
- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
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)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | R94595 | Improvements Assessment | $2,243,686 |
Land Assessment | $466,840 | Total Assessment | $2,710,526 |
PROPERTY TAXES
Parcel Number
R94595
Land Assessment
$466,840
Improvements Assessment
$2,243,686
Total Assessment
$2,710,526
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100% Net Leased Two-Tenant Property | 180 Springtown Way
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