WellMed San Antonio,Texas

$2,350,427
Closed Single-Tenant
Property type:Single-Tenant Net Lease

The space

  • Price: $2,350,427
  • Cap Rate: 5.85%
  • Annual Rent: 8,400
  • Rentable Square Feet: $137,500
  • Price PSF: $279.81
  • Land Area: 2.19 Acres
  • Year Built/Remodel: 1985/2015
  • Lease Type: NN
  • Lease Expiration: 11/1/2030

Description

8303 W. Military Drive
San Antonio, TX 78227

Investment Highlights

  • New 10-Year, Triple Net (NNN) Lease, Recently Extended
  • Two, Five-Year Tenant Renewal Options with a 10 Percent Rent Increases in Each
  • Tenant has Been in Place for More Than 15 Years, Showing a Strong Commitment to the Site
  • In 2015, Tenant Put Approximately $350,000 Worth of Renovations into the Building
  • WellMed is a Multibillion-Dollar Revenue Healthcare Company Serving the Senior Population Primarily in Texas and Florida
  • Surrounding National Retailers Include Lowe’s, The Home Depot, Walmart Supercenter, Target, Ross, LA Fitness, HEB Supermarket, Academy Sports, Five Below, McDonald’s, Chili’s Grill + Bar, Red Lobster, Starbucks, Panera Bread, Wendy’s, Dunkin’ Donuts, Bank of America, AutoZone, Dollar Tree, Wells Fargo and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a newly renovated WellMed in San Antonio, Texas. This WellMed offers a recently extended 10-year, double net lease. The tenant has two, five-year renewal options with 10 percent rent increases in each option. In 2015, the tenant put approximately $350,000 worth of renovations into the 8,400-square-foot building. This tenant has a strong commitment to the site, as they have been in place for more than 15 years.

WellMed is a multibillion-dollar revenue healthcare company serving the senior population and working hard to keep older adults healthy. Today, WellMed is a network of doctors, specialists and other medical professionals that specialize in providing care for more than 700,000 adults with over 16,000 doctors’ offices in Texas and Florida.

This property is located on Military Drive with more than 16,000 vehicles daily. There is visibility from State Highway 151 (Raymond E. Stotzer Jr Freeway) which has more than 65,000 vehicles daily. WellMed is also one mile from Interstate 410, also known as the Connally Loop, this is a beltway encircling San Antonio. The population within five miles of the subject property is nearly 315,000. Surrounding national retailers include Lowe’s, The Home Depot, Walmart Supercenter, Target, Ross, LA Fitness, HEB Supermarket, Academy Sports, Five Below, McDonald’s, Chili’s Grill + Bar, Red Lobster, Starbucks, Panera Bread, Wendy’s, Dunkin’ Donuts, Bank of America, AutoZone, Dollar Tree, Wells Fargo and many more.

This WellMed is eight miles from St. Philip’s College with an enrollment of more than 12,000 students. San Antonio is a central location for military activity: Four Miles from Lackland Air Force Base; Six Miles from Kelly Field; 15 Miles from Fort Sam Houston Joint Base; and 24 Miles from Camp Bullis Military Training Reservation. San Antonio is the most populous city in the metro, housing more than 1.4 million residents, with Downtown San Antonio and the San Antonio International Airport within 15 miles of the subject property.

Tim Speck
Broker of Record
P: (972) 755-5200
Lic #: 9002994

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