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Saltgrass Steak House 11812 Bandera Rd 6,778 SF Retail Building Helotes, TX 78023 $3,823,000 ($564.03/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Rare Percentage Rent Absolute Net Lease - Strong Store Sales Reported 2023/2024 Trending Up
- Saltgrass Steak House is a Subsidiary of Multinational Hospitality and Entertainment Company Landry's Inc. based out of Houston, Texas
- Located in Dense Retail Trade Area Within the San Antonio MSA
EXECUTIVE SUMMARY
The subject property is an Absolute Net Leased leased restaurant Investment on 1.2 acres in Helotes (San Antonio MSA). Saltgrass Steak House has been operating at this location since 2011 and the lease has percentage rent. The percentage rent is 3 percent of sales above $4 Million and the trend has been showing year over year growth.
Helotes is a city in Bexar County, Texas, United States, located on the far northwest side of San Antonio. It is part of the San Antonio-New Braunfels Metropolitan Statistical Area.
Helotes is a city in Bexar County, Texas, United States, located on the far northwest side of San Antonio. It is part of the San Antonio-New Braunfels Metropolitan Statistical Area.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,778 SF
Building Class
B
Year Built
2008
Price
$3,823,000
Price Per SF
$564.03
Cap Rate
5.75%
NOI
$219,823
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
1.20 AC
Zoning
C-3 - General Commercial District
Parking
25 Spaces (3.69 Spaces per 1,000 SF Leased)
Frontage
167’ on Bandera Rd
AMENITIES
- Bus Line
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 14867-001-0040 | Improvements Assessment | $807,510 |
| Land Assessment | $1,692,490 | Total Assessment | $2,500,000 |
PROPERTY TAXES
Parcel Number
14867-001-0040
Land Assessment
$1,692,490
Improvements Assessment
$807,510
Total Assessment
$2,500,000
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Saltgrass Steak House | 11812 Bandera Rd
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