8190-8214 FM 78 - Storefront FOR SALE


Converse, TX 78109- Northeast Side
$4,175,000 USD
210-920-6887
8190-8214 FM 78, Converse, TX for Sale
$4,175,000 USD
Storefront - FOR SALE
1/48
null | 7.24% Cap Rate

8190-8214 FM 78
Converse, TX 78109
Northeast Side


HIGHLIGHTS

  • Welcome to Santa Fe Plaza, a 12,100-square-foot, multi-tenant retail center recently constructed and fully occupied by a diverse tenant mix.
  • High visibility along Farm-to-Market 78, with storefront signage visible to over 36,000 daily passing vehicles for prime built-in exposure.
  • NNN leases allow for a hands-off investor to acquire the cash-flowing property and maintain passive ownership over autonomous tenants.
  • San Antonio International Airport is about 10 miles away, contributing to the area's consumer demand and robust spending power.

OVERVIEW

Resolut RE presents the investment opportunity to acquire Santa Fe Plaza, a 100% NNN leased retail commercial strip center located at 8190-8214 Farm-to-Market 78 in Converse, Texas. The plaza, constructed in 2020 and comprising 12,100 square feet on 1.5 acres, is offered at a 7.24% cap rate. The property is fully occupied by six tenants on NNN leases with staggered expirations and built-in rent escalations, producing over $302,000 in net operating income. 8190-8214 FM 78 is in a high-visibility location along FM 78 with 242 feet of frontage, visible to daily traffic counts exceeding 36,730 vehicles, and dual ingress/egress access points. The property benefits from strong surrounding retail density in the growing Converse submarket of northeast San Antonio. Santa Fe Plaza has a diversified tenant roster across service, food, and medical uses, including The Light Dental, Tropicana, Converse Nails & Lounge, Elite 7 Game Room, Smokerz Paradise, and Split 78. All tenants are on NNN leases with renewal options ranging from one to two five-year extensions, providing long-term income stability. Minimal landlord management responsibility given the NNN lease structure, with tenants responsible for their pro-rata share of operating expenses. The current operating expense ratio is 24.6% of effective gross income, with a 4.60% general vacancy factor underwritten. Annual rent increases of 2-3% across the rent roll provide organic NOI growth. Santa Fe Plaza features metal framing and stucco exterior construction, a TPO roof, and a slab foundation, making it a low-maintenance asset with years of remaining useful life. The site features 62 asphalt parking spaces at a 5.12/1,000-square-foot ratio, well above typical retail requirements, supporting strong tenant operations and customer accessibility.

FOR SALE DETAILS

PRICE

$4,175,000 USD

PRICE/SF

$345 USD /SF

CAP RATE

7.24%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Santa Fe Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2021

SPRINKLERS

-

PARKING SPACES

57

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

OCL

APN/PARCEL ID

05080-700-0980

ASK ABOUT THIS PROPERTY

Ray Kang, CCIMRESOLUT REMore Info
210-920-6887

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Ray Kang, CCIMRESOLUT REMore Info
210-920-6887

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.