Description

Redevelopment opportunity, Wal-Mart is building a Super Center across the street. This is a strong performing location that will provide 3 years of income, once Wal-Mart moves to the new center percentage rent converts to base rent so income remains stable. The 1st option period was recently exercised and runs thru 01/31/2014 The subject property is a 36,622 square foot freestanding built to suit commercial building. The property is a one-story building with concrete brick walls with stucco exterior accents on a reinforced concrete foundation. The roof is comprised of asphalt over rigid insulation board over a metal deck. In 2008, the building was remodeled with new fixtures and paint. The 239,676 square foot (5.5 acre) parcel has 407 feet of frontage on US 181. Site improvements include an asphalt-paved parking lot with 209 spaces. All public utilities are available and are in place on the site. No adverse easements or encroachments were observed to be on the subject property. Access to the site is provided by several ingress/egress points along US 181, which serve the property and the adjacent shopping center.

The subject property is located in the northern portion of the City of Floresville, approximately two miles north of the Central Business District of Floresville. The city of Floresville is the county seat of Wilson County and is approximately 25 miles south-southeast of San Antonio, Texas. Floresville is a fast growing suburb of San Antonio and is considered to be a commuting community, as over 55% of its residents commute to San Antonio to work. Wilson County is approximately 85 miles south of Austin and 180 miles southwest of Houston. Wilson County' s major traffic arteries include U.S. Highway 181, U.S. Highway 87 and State Highway 123. U.S. Highway 181 is the principal traffic carrier through Floresville and provides direct access to Interstate 37 and San Antonio. The property has excellent visibility to traffic from both directions. The property is situated in the north portion of Floresville' s primary commercial/retail corridor. Recent traffic counts estimate approximately 17,500 vehicles per day on US Highway 181. The subject property is located contiguous to Center Plaza, a 150,000 square foot grocery/drug store anchored shopping center.