5563 De Zavala Rd, San Antonio, TX 78249
2 Flex Properties Offered at $13,500,000 in San Antonio, TX
For Sale
Active
Asking Price $13,500,000
- Property Type
-
Industrial
- Square Feet
- 68,400 SF
Listing Contacts
Ty Underwood
Property Overview
University Heights Business Park (the “Property”) is a 68,400 square foot multi-tenant flex/industrial asset located in the booming Northwest Submarket of San Antonio, Texas. Positioned along De Zavala Road just one-third of a mile west of IH-10, University Heights Business Park benefits from prominent visibility and exposure to over 33,000 vehicles per day passing directly in front of the Property.
Built in 2000, the Property consists of two, single-story flex/industrial buildings that are 100% leased to a diverse and dedicated tenant base with an average tenant tenure of 9.8 years and a WALT of over 5.4 years. The Property is anchored by U.S. Geological Survey and U.S. Fish & Wildlife Service who have over 6.5 years of remaining lease term and more than 24 years of tenancy at the Property demonstrating long term commitment to the location. Also, most tenants at the Property have small, fenced areas in the truck court which is unique in the submarket and particularly this location.
Average rents at the Property are $13.97 per square foot triple net compared to competing properties with asking rent ranging from $16.95 to $19.50 per square foot triple net. Also, retail rents in the submarket average over $21 per square foot triple net. Over 84% of existing tenants have built in rent escalations and only one tenant has a fixed renewal option creating the opportunity to increase rents to market as leases expire. With an ideal average suite size of 6,218 square feet, University Heights Business Park offers high demand flex/industrial space that rarely becomes available in this sought-after submarket.
As a testament to the submarket, flex vacancy rates average 6.3% with rent growth of 6.7% in 2023, according to CoStar. Also, there is no available land zoned to build similar flex/industrial product thus maintaining a favorable supply/demand balance for the foreseeable future. Median home values are over $226,000 and average annual household income exceeds $84,000 within a one-mile radius of the Property.
Overall, University Heights Business Park offers the rare combination of a high-quality multi-tenant flex/industrial property priced below replacement cost and positioned in the affluent Northwest Submarket of San Antonio where there are few competing properties, low vacancy, and rapid rent growth.
Built in 2000, the Property consists of two, single-story flex/industrial buildings that are 100% leased to a diverse and dedicated tenant base with an average tenant tenure of 9.8 years and a WALT of over 5.4 years. The Property is anchored by U.S. Geological Survey and U.S. Fish & Wildlife Service who have over 6.5 years of remaining lease term and more than 24 years of tenancy at the Property demonstrating long term commitment to the location. Also, most tenants at the Property have small, fenced areas in the truck court which is unique in the submarket and particularly this location.
Average rents at the Property are $13.97 per square foot triple net compared to competing properties with asking rent ranging from $16.95 to $19.50 per square foot triple net. Also, retail rents in the submarket average over $21 per square foot triple net. Over 84% of existing tenants have built in rent escalations and only one tenant has a fixed renewal option creating the opportunity to increase rents to market as leases expire. With an ideal average suite size of 6,218 square feet, University Heights Business Park offers high demand flex/industrial space that rarely becomes available in this sought-after submarket.
As a testament to the submarket, flex vacancy rates average 6.3% with rent growth of 6.7% in 2023, according to CoStar. Also, there is no available land zoned to build similar flex/industrial product thus maintaining a favorable supply/demand balance for the foreseeable future. Median home values are over $226,000 and average annual household income exceeds $84,000 within a one-mile radius of the Property.
Overall, University Heights Business Park offers the rare combination of a high-quality multi-tenant flex/industrial property priced below replacement cost and positioned in the affluent Northwest Submarket of San Antonio where there are few competing properties, low vacancy, and rapid rent growth.
Property Details
- Property Subtype
- Flex
Highlights
- 100% leased multi-tenant flex/industrial asset priced below replacement cost and located in the coveted Northwest Submarket of San Antonio, Texas.
- Constructed in 2000, the Property boasts a dedicated tenant base with an average tenant tenure of 9.8 years and a WALT of over 5.4 years.
- Average rents at the Property are $13.97/SF NNN compared to competing properties with asking rent ranging from $16.95 and $19.50/SF NNN.
- Parallel positioning along De Zavala Road with prominent signage and over 33,000 vehicles per day passing directly in front of the Property.
- The Northwest Submarket has few comparable competing flex/industrial properties, so tenants have limited options for the type of space the Property of
- More than $84,000 Annual Average Household Income and $226,000+ Median Home Value within a one-mile radius.
All available spaces
- Space
- University Heights Building 2
- Size
- 34,200 SF
- Space Subtype
- Flex
- Space
- University Heights Building 1
- Size
- 34,200 SF
- Space Subtype
- Flex
Nearby Properties
Similar Properties
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