Overview

Description

Faris Lee Investments is pleased to present an exceptional Multi-Tenant Net Leased commercial property opportunity located at 17315 W. Interstate 10, San Antonio, TX 78257. Situated as a 2-tenant outparcel pad within the esteemed RIM Shopping Center, this property offers unparalleled advantages for investors seeking prime retail real estate in San Antonio’s desirable high growth area. Positioned within the RIM, San Antonio’s premier shopping destination spanning over 2 million square feet, the property benefits from being an outparcel pad, offering easy accessibility and high visibility to the vast consumer base frequenting the shopping center. Located next to Interstate 10 with a staggering 130,370 vehicles per day and La Cantera Parkway with over 24,000 vehicles per day, the property enjoys impressive traffic counts, ensuring maximum exposure for tenants and attracting a steady flow of customers. Moreover, located within one of San Antonio’s thriving retail hubs, the property benefits from the RIM’s status as the #1 Power Center in Texas and #3 Power Center in the United States, drawing over 7.16 million visitors annually to its diverse array of over 100 premier stores, restaurants, and service businesses.

The property boasts two credit-worthy tenants, Via 313 Pizzeria and Taco Palenque, both established Texas-based brands with proven success and plans for regional expansion. Taco Palenque, a well-established chain with over 30 locations, and Via 313, rapidly growing with close to 22 locations and aiming for 30, have committed to new long-term 15-year triple net leases. Taco Palenque’s lease features attractive 3% annual rental increases for the entire 15-year term, ensuring steady income growth and inflation protection for investors. Meanwhile, Via 313’s lease offers further upside potential with 10% rental increases every 5 years throughout the same term, reflecting the brand’s confidence in its expansion plans and commitment to long-term tenancy at the property.
With a favorable cap rate of 6%, this property offers investors a stable and attractive return on investment, supported by the strength of the tenants, long-term leases with built-in rental escalations, and the desirable location within the thriving RIM shopping destination. This investment opportunity at 17315 W. Interstate 10 presents a rare chance to acquire a highly desirable commercial property within San Antonio’s thriving retail landscape, with unparalleled visibility, strategic location, and robust economic growth prospects.

Highlights

• Rare outparcel QSR Pad Building with drive-thru at the RIM - San Antonio, Premier shopping destination - Over 7M annual visitors/Over 2M square feet
• Strong & Growing Texas - Branded Award Winning Tenants - Via 313 Pizzeria: 22+ Restaurant Locations - Taco Palenque: 32 restaurant locations
• New long term NNN 15-year NNN leases with rental increases throughout the term & option periods
• Co-tenants: Target, Bass Pro, Nordstrom Rack & Lifetime Fitness
• • Close proximity to Six Flags Fiesta Texas, UTSA, Apple, Nordstrom, Louis Vuitton, H&M
• New 2024 Construction
• Affluent trade area/Over $125,000 within 1-mile
• Adjacent to the Santikos Entertainment Palladium

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