Northwest Business Center is an institutional-quality, multi-tenant small-bay industrial flex campus totaling 87,042 square feet across three buildings in the highly desirable Alamo Downs Business Park of San Antonio. The property is currently 94.5% leased to 24 tenants, providing a stable, diversified income stream across industries including healthcare, construction, technology, and professional services. No single tenant occupies more than 12.5% of the rentable area, reducing rollover risk and enhancing income durability. Positioned within a supply-constrained flex submarket with approximately 94% occupancy and limited new construction, the asset benefits from strong tenant demand and long-term rent growth potential. Investors are presented with a compelling value-add opportunity through mark-to-market rent growth, as current in-place rents average $11.66 PSF, significantly below prevailing market levels. With ~60% of leases rolling by 2029, new ownership has a clear runway to increase income while maintaining high occupancy. The property features functional small-bay configurations, 50 grade-level overhead doors, 16-foot clear heights, and a 3.48/1,000 SF parking ratio, making it attractive to a broad range of service, industrial, and flex users.