San Antonio, Texas Commercial Real Estate: May 2011

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San Antonio, Texas Medical Office Building for Sale/Lease----Commercial Real Estate San Antonio

Go to http://kwcommercialsa.com/portfolio/?p=95

NORTHEAST MEDICAL PLAZA FOR SALE OR LEASE

Executive Summary - 8800 Village Drive San Antonio, Texas

8800 Village Drive is a 23,089 SF (20,613 usable) multi-tenant medical office building with covered physician parking and 3rd floor physician storage.  Both the ground floor and 1st floor both have "ground floor" access to parking lots (G Parking and 1st Parking).  The asking price of $3,250,000.00 is only $142/SF.  In 2008 when the current owner acquired the property it was 83% with nearly $30k in gross monthly rent.  The property is currently at 33% occupancy largely from the vacancy of one tenant with roughly $11,000 in gross income.  The bottom floor vacancy provides 2nd generation imaging facility.  This site would be an ideal purchase for an imaging group (or other specialty physician practice doing procedures at NE Baptist) that could occupy the bottom floor and lease up the remaining upstairs vacancies.  Owner Occupant financing is "amazing" right now.  Current and previous owners did not account for common areas (add on factor) in current leases.  Migration to "add on factor" for lease renewals and new leases provide potential for increased income.  At full occupancy (with 7% vacancy factor) proforma NOI with add-on factor provides potential NOI of $298,696.70.  Great opportunity for a cash investor to acquire, lease up with add-on factor, and stabilize for long term returns.  8800 Village Drive is arguable the nicest MOB structure on Village Drive with the best access to NE Baptist Hospital.  http://www.baptisthealthsystem.com/facilities_nbh.aspx

Description

  • SAN ANTONIO, TEXAS MEDICAL OFFICE INVESTMENT OPPORTUNITY
  • Price: $3,250,000.00 (Only $142.14/SF)
  • Building Size: 23,089 SF (20,613 Leasable)
  • Property Type: Medical Office
  • Sizeable vacancy on the bottom floor in a second generation imaging facility.
  • Remainder of vacancy sits upstairs in several efficient 2nd gen small medical offices.
  • Nicest Building on the street that is directly across from the hospital.

 

San Antonio, Texas Links

http://www.baptisthealthsystem.com/facilities_nbh.aspx

http://www.sanantonio.gov/budget/

http://blogs.forbes.com/francescalevy/2010/09/13/real-estate-investing-housing-reit-foreclosures-distresse/

http://www.sanantonio.gov/edd/

 

Link LeGrand  CCIM
Cell: 210-789-5465
Licensed in Texas
Keller Williams Legacy
1102 E. Sonterra Blvd. #106
San Antonio, TX 78258
Office: 210-482-3200
Fax: 210-493-4669
Email:
link@kwcommercialsa.com
Website:
www.kwcommercialsa.com

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Comment balloon 0 commentsLink LeGrand • May 30 2011 10:58AM
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