Cap Rate: 5.70%
Net Operating Income: $91,600
Lot Size: ±1 AC
Year Renovated: 2012
The subject property is a 908 SF motor bank building on a nearly 1-acre lot currently occupied by Comerica Bank. Built in 1986 of all concrete construction, this building is configured with 908 SF of office space, and 6 covered motor bank lanes. The ground lease has a corporate guarantee from Comerica Incorporated (NYSE: CMA). CMA has an A2 credit rating from Moodys.
Located on Heimer Road just off Hwy 281 North, this property is adjacent to a Comerica bank branch located in the Comerica Bank Plaza Office Building. It is also adjacent to over 500,000 square feet of retail development at the Highway 281 / Bitters intersection including: Target, Home Depot and Olive Garden.
San Antonio, officially the City of San Antonio, is the seventh-most populous city in the United States, and the second-most populous city in Texas with 1,547,253 residents in 2019. Founded as a Spanish mission and colonial outpost in 1718, the city became the first chartered civil settlement in present-day Texas in 1731. The area was still part of the Spanish Empire, and later of the Mexican Republic. It is the state’s oldest municipality, having celebrated its 300th anniversary on May 1, 2018.