OFFERING MEMORANDUM Mixed Use Office/Retail & 2 Apartments SAN ANTONIO, TX OFFERING MEMORANDUM PRESENTED BY:
OFFERING SUMMARY SALE PRICE: $195,000 PROFORMA CAP RATE: 8.16% PROFORMA NOI: $15,915 (at 100% occ) LOT SIZE: 0.9 Acres YEAR BUILT: 1960 BUILDING SIZE: 2,456 SF ZONING: C-3R NCD-8 MARKET: San Antonio PROPERTY OVERVIEW Great property for first time investors. This property has 3 retail spaces and includes two, 1 bedroom 1 bath apartments. The property has 80% occupancy with current tenants having been there more than 3 years. Value added opportunity as market allows for higher rents than tenants are currently paying. PROPERTY HIGHLIGHTS San Antonio is the 7th largest city in the United States with a growth rate of nearly 66 people per day High density population with 172,743 households within 3 miles In place cash flow with loyal tenants with 80% Occupancy. Financial figures assume 100% occupancy to illustrate income at current rents There is one vacant suite which would allow for a user to purchase the building for their business. SUBMARKET: Northwest TRAFFIC COUNT: 18,500 PRICE / SF: $79.38
SALE PRICE $195,000 LOCATION INFORMATION Building Name Mixed Use Office/Retail & 2 Apartments Street Address 2148-2152 Cincinnati Ave City, State, Zip San Antonio, TX 78228 County/Township Bexar/San Antonio Market San Antonio Submarket Northwest Cross Streets Epworth St Road Type Paved Market Type Large Nearest Highway I-10 Nearest Airport San Antonio International Airport BUILDING INFORMATION Building Size 2,456 SF NOI $15,915 Cap Rate 8.16% Price / SF $79.38 Year Built 1960 Occupancy % 80% Tenancy Multiple Number Of Floors 2 Load Factor Yes Construction Status Existing Framing Masonry Condition Fair Number Of Buildings 1 Walls Masonry PROPERTY DETAILS Property Type Retail Property Subtype Zoning Lot Size Street Retail C-3R NCD-8 0.9 Acres APN# 413626 Submarket Northwest Lot Frontage 79 Corner Property Yes Traffic Count 18,500 Traffic Count Street PARKING & TRANSPORTATION Street Parking Parking Type Bandera Rd/Epworth St SE Yes Surface Number Of Spaces 8
RETAIL FOR SALE
RETAIL FOR SALE Mixed Use Office/Retail & 2 Apartments
Mixed Use Office/Retail & 2 Apartments
INVESTMENT OVERVIEW FINANCIAL PROFORMA Price $195,000 Price per SF $79.38 CAP Rate 8.2% Cash-on-Cash Return (yr 1) 11.33 % Total Return (yr 1) $7,409 Debt Coverage Ratio 1.38 OPERATING DATA FINANCIAL PROFORMA Gross Scheduled Income $24,240 Other Income $0 Total Scheduled Income $24,240 Vacancy Cost $0 Gross Income $24,240 Operating Expenses - Net Operating Income $15,915 Pre-Tax Cash Flow $4,419 FINANCING DATA FINANCIAL PROFORMA Down Payment $39,000 Loan Amount $156,000 Debt Service $11,496 Debt Service Monthly $958 Principal Reduction (yr 1) $2,990
TENANT NAME UNIT NUMBER UNIT SIZE (SF) ANNUAL RENT % OF GLA Vacant 2148 500 $5,820 (when rented) 20.35 AA 2150 356 $3,421 14.49 Fruteria 2152 400 $4,200 16.28 Tenant 1 Apt 1 600 $5,100 24.42 Tenant 2 Apt 2 600 $5,700 24.42 Totals/Averages 2,456 $18,421
RETAIL FOR SALE
POPULATION 1 MILE 2 MILES 3 MILES Total population 18,641 75,067 172,743 Median age 33.9 33.4 33.1 Median age (male) 32.4 30.8 30.4 Median age (Female) 35.3 35.5 35.6 HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES Total households 6,116 24,917 56,265 # of persons per HH 3.0 3.0 3.1 Average HH income $40,525 $38,097 $37,691 Average house value $86,392 $80,780 $78,787 * Demographic data derived from 2010 US Census