San Antonio, TX - Prestige ER

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, personal guaranteed, freestanding, investment property located in San Antonio, Texas. The tenant, Prestige Emergency Room - Potranco, LLC, has approximately 6 years remaining on their 10-year lease with 1 (5-year) option to extend. The lease features 10% rental increases in 2025 and at the beginning of each option period, growing NOI and hedging against inflation. The lease is NNN with landlord responsibilities limited to roof and structure, making it an ideal, low-management investment opportunity for a passive investor. Prestige Emergency Room is a 24-hour full-service emergency room designed to provide immediate emergency care at all three of their locations, as well as provide transportation to area hospitals when more extensive treatments are required.

Prestige Emergency Room is located along State Highway 1604, a major retail and commuter thoroughfare averaging 36,300 vehicles passing by daily. The building is ideally positioned between a 24-hour Walmart Supercenter and Kohl’s, significantly increasing consumer draw to the immediate trade area and promoting crossover store exposure for the site. Additionally, the asset is within close proximity to multiple shopping centers including The Shops at Dove Creek (271,206 SF), Westover Marketplace (600,000 SF), and Alamo Ranch (464,732 SF). Other nearby national/credit tenants include The Home Depot, Lowe’s Home Improvement, Target, Ross Dress For Less, Hobby Lobby, Walgreens, and more, further increasing exposure and crossover synergy for the trade area. The site benefits from its ideal location just 3.25 miles northeast of CHRISTUS Santa Rosa Hospital (386 beds) and Warm Springs Rehabilitation Hospital (65 beds), providing the emergency room with a direct consumer base from which to draw. With two hospitals nearby, the immediate trade area serves a medical cluster, promoting collaboration between hospitals, medical offices, and medical retailers. In addition, SeaWorld San Antonio is located just 4 miles north of the property, a 250-acre marine mammal park, oceanarium, and animal theme park. The park is one of the world’s largest marine-life theme parks. Additionally, the asset is surrounded by several apartment complexes including West Creek Townhomes (220-units), Cascadia Luxury Apartments (280-units), and Estraya Westover Hills Apartments (278-units), providing for a direct residential consumer base from which to draw. The 5-mile trade area is supported by over 275,500 residents and 48,700 daytime employees. Residents within 1 mile of the subject property boast an affluent $114,849 average household income.