4115 Medical Dr Portfolio

Marcus & Millichap is pleased to present The Park On Medical, a five-building office park with a gross leasable area of 26,888 square feet on a 2.25-acre site. The Park On Medical was built in 1983 with continual capital improvements under current ownership (2014), which included roofs, HVAC systems, landscape walls, and interior upgrades. This well-established office park serves a high volume of local business tenants. It offers flexible space options, all within minutes from Interstate 10 and the South Texas Medical Center, which boasts nine major medical institutions and employs over 30,000 individuals in the San Antonio area.
Significant upside can be seen through further active rental campaigns, more intensive management systems, and capital improvements that will encourage further rent growth and tenant attraction. The property is also zoned C-2, where retail uses could be incorporated to bolster and diversify the tenant mix, mitigating market risk, particularly in a submarket with a shallow retail vacancy rate (3.7% Costar 2024). Further upside can be realized with the development of a sixth building that can increase gross leasable area and/or feature a tenant(s) that could take advantage of the frontage visibility along Medical Drive (11,420 VPD). Other highlights include ample parking, an attractive layout of common areas, and healthy heritage trees.