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$8.3 MILLION
REDONDO PLACE
CONFIDENTIALITY AGREEMENT & DISCLOSUREThis Memorandum is intended solely to assist prospective purchasers in their evaluation of the Property and their consideration of whether to purchase the Prop-
erty. It is not to be used for any other purpose or made available to any other person without the prior written consent of the Seller of the Property.
This Memorandum was prepared on the basis of information available to the Seller and to Valcor Commercial Real Estate, the Seller’s exclusive agent in connec-tion with the sale of the Property. This Memorandum Contains pertinent information about the Property and the surrounding area but it does not contain all the information necessary for a complete evaluation of the Property. The projected cash flow and other financial information contained herein are for reference only.
Although the information contained in this Memorandum is believed to be accurate and reliable, neither the Seller nor its agent guarantees its accuracy or com-pleteness. Because of the foregoing and because the Property will be sold on an “as is” basis, prospective purchasers should make their own independent as-sessments, investigations, and projections regarding the Property. Although additional material, which may include engineering, environmental or other reports, may be provided to certain prospective purchasers as appropriate, such parties should confer with their own engineering and environmental experts, counsel,
accountants, and other advisors.
The Seller expressly reserves the right, in its sole discretion, to reject any offer to purchase the Property or to terminate any negotiations with any party at any time, with or without notice. The Seller shall have no legal commitment or obligation to any prospective purchaser unless and until a written Purchase and Sale Agree-
ment has been fully executed and delivered and any and all conditions to the Seller’s obligations there under have been fully satisfied or waived.
The Seller is responsible for any commission due to Valcor Commercial Real Estate in connection with a sale of the Property. The Seller shall not be responsible for any commission claimed by any other agent or broker in connection with a sale of the Property. No other person, including Valcor Commercial Real Estate, is authorized to make any representation agreement on behalf of the Seller. This Memorandum remains the Property of the Seller and Valcor Commercial Real Estate and may be used only by parties approved by the Seller and Valcor Commercial Real Estate. No portion of this Offering Memorandum may be copied or
otherwise reproduced or disclosed to anyone except as provided herein and as permitted by the express terms of the Confidentiality Agreement.
REDONDO PLACE
Investment Summary ............................................... 5Tenant Profiles .......................................................... 6Aerial Map ............................................................... 10Radius Map ............................................................. 11Demographics ........................................................ 12
EXECUTIVE SUMMARY
TABLE OF CONTENTS
Description Overview ............................................ 14Property Photos ...................................................... 15Site Plan .................................................................. 16Aerial Map ............................................................. 17Regional Map ........................................................ 18
PROPERTY DESCRIPTION
Pro Forma ............................................................... 20Rent Roll ................................................................. 21
FINANCIAL ANALYSIS
EXECUTIVE SUMMARY
THE OFFERINGPROPERTY NAME: Redondo Place
EXECUTIVE SUMMARY
PROPERTY OVERVIEW
PROPERTY ADDRESS: 903 E Bitters Road, San Antonio, TX 78216
PROPERTY TYPE: Retail - Neighborhood Center
SUBMARKET: North Central
GROSS LEASABLE AREA: 49,991 SF
ACREAGE: 3.909 acres
PARKING: 219 spaces
YEAR BUILT: 1986
MAJOR TENANTS
n behalf of the owner, Valcor Commercial Real Estate is pleased to offer for sale Redondo Place Shopping Center (the “Property”), a 49,991 square foot neighborhood retail center,
which is shadow anchored by a Walgreens Pharmacy and across Heimer Road from a Target. The property is located in the densely populated, infill North Central submarket of San Antonio. Redondo Place is currently 85.1% leased with tenants including Advance Auto Parts, Cosmic Mayhem Mini Golf, Subway, Tapout Fitness, and Wing Daddy’s Sauce House.
The Property is located one block east of the heavily trafficked intersection of Bitters Road and U.S. Highway 281, and enjoys a high daytime employment population. Other key retailers in the immediate trade area include Home Depot, Target, Office Depot, Party City, PetSmart, Starbucks, Hobby Lobby, Santikos Movie Theaters, Burlington Coat Factory, Sun & Ski Sports, and Bill Miller Bar-B-Q.
SALE PRICE
$8,300,000
Advance Auto partsSUITE 300 | 7,371 SFAdvance Auto Parts is the largest automotive aftermarket parts provider in North America serving both professional installers and do-it-yourself customers. Advance operates over 5,200 stores, over 100 Worldpac branches. The service store has been in this location since 1989.
MISSELLIE’S
EXECUTIVE SUMMARY
TENANT PROFILES
Subway SUITE 103 | 1,800 SFThe SUBWAY brand is the world’s largest submarine sandwich chain with more than 37,000 locations around the world. The restaurant has been serving fresh, delicious, and made-to-order sandwiches at this location since 1987.
miss ellie’s pizzaSUITE 301 | 1,620 SFMiss Ellie’s Pizza serves as a New York styled walk-in, take out, delivery, and catering Italian restau-rant. The restaurant has been in this location since 2006, and has established a steady local clientele for both lunch and dinner.
MiSS Ellie’s pizza
SUBWAYADVANCE
AUTO PARTS
PIZZA
san antonio shoe & Luggage RepairSUITES 304 | 2,125 SFWith two locations in San Antonio, San Antonio Shoe & Luggage Repair offers fine craftsmanship and high quality repair work to shoes, purses, and assorted luggage. SA Shoe & Luggage Repair has been in this location since 1997.
EXECUTIVE SUMMARY
TENANT PROFILES
My econo’s $39.95 optical SUITE 303 | 2,056 SFMy Econo’s $39.95 Optical is a full service optical provider offering products such as transition lenses and no-line bifocals. My Econo has been servicing San Antonio for over 25 years and currently has 4 locations in San Antonio.
atlantic nailsSUITE 306 | 1,400 SFAtlantic Nails offers a wide variety of salon services including nail services, waxes, manicures and pedicures to both walk-in and appointment clients. Atlantic Nails has been a household brand at the center for more than 12 years. With a new ownership in place, and a fresh new look, they are excited about future growth.
my econo’s$39.95 Optical
ATLANTIC NAILSSAN ANTONIOSHOE REPAIR
ATLANTICNAILS
MY $3995 OPTICAL
zhen day spaSUITE 315 | 1,800 SFZhen Day Spa specializes in professional spa services including facials, massage, hair and aestheti-cian services for female clientele.
EXECUTIVE SUMMARY
TENANT PROFILES
allstate insuranceSUITE 307 | 1,120 SFThe Allstate corporation is the largest publicly held personal lines property and casualty insurer in America, serving more than 16 million households nationwide. Serving since 2010 at this location, Allstate is dedicated to protecting customers and preparing them for the future.
TAPOUT FITNESSSUITE 309 | 6,294 SFWith locations from California to New York, Tapout Fitness combines the martial arts philosophy of discipline, determination and respect with the energy of cardio, weight training and high intensity interval training in group classes.
Allstateinsurance
TAPOUT FITNESS
Zhen day spa
zhen daySPA
Wing Daddy’s SAUCE HOUSESUITE 318 | 4,253 SFWing Daddy’s Sauce House is a franchise chain offering a variety of food and drinks including Wings, Baby Back Ribs, and over-the-top Burgers. The restaurant has locations in El Paso, San Antonio, Dallas, New Mexico, and Mexico.
EXECUTIVE SUMMARY
TENANT PROFILES
Box 903
CLIPPErHEAD BARBERSHOP
SUITE 313 | 3,010 SF
SUITE 314 | 1,100 SF
Box 903 is an upscale neighborhood sports bar. The space features bar service, five 12’ HD projection screens, and live music. Box 903 has been in this location since 2000.
Clipperhead is a local barbershop focused on men’s grooming with precision and consistency. Offers specialty styled cuts and grooming, Clipperhead is by appointment only.
Wing DADDY’S
BOX 903
CLIPPERHEAD BARBERSHOPCOSMIC MAYHEM MINI-GOLF
COSMIC MAYHEM MINI-GOLFSUITE 312 | 8,590 SFCosmic Mayhem is a premier black light 18-hole mini golf course featuring an outer space themed adventure with bright, eye-catching colors. A technicolor fantasy, Cosmic Mayhem is the ideal spot for family fun and parties.
WESTLAKES LANDING CENTER
Imagery ©2016 Google, Map data ©2016 Google 200 ft
COUNTRY-SIDE
REDONDOPLACE
N
S
W EAERIAL MAP
EXECUTIVE SUMMARY
BITTERS RD.
Map data ©2015 Google 2 mi
EXECUTIVE SUMMARY
1 MILE3 MILE5 MILE
RADIUS MAP POPULATION GROWTH
8.6
8.8
9.0
9.2
9.4
9.6
9.8
10.0
8.4
(THO
USA
ND
S)
2000CENSUS
2010CENSUS
2017ESTIMATE
2022PROJECTION
1-MILE
82
90
94
98
102
78
(THO
USA
ND
S)
2000CENSUS
2010CENSUS
2017ESTIMATE
2022PROJECTION
3-MILE
(THO
USA
ND
S)
2000CENSUS
2010CENSUS
2017ESTIMATE
2022PROJECTION
5-MILE
86
290
220
230
240
250
260
270
280
210
EXECUTIVE SUMMARY
DEMOGRAPHICS
REDONDO PLACE 1-MILE RADIUS
REDONDO PLACE3-MILE RADIUS
REDONDO PLACE5-MILE RADIUS
2017 Estimated Population2022 Projected Population2010 Census PopulationGrowth 2010-2017Growth 2017-2022
2017 Estimated Average Age
9,310 93,661 271,32410,089 101,768 295,9278,550 84,535 238,7248.89% 10.80% 13.66%8.37% 8.66% 9.07%39.80 37.30 37.8040.10 38.20 38.60
2017 Estimated Median Age
2017 Estimated Households2022 Projected Households2010 Census HouseholdsGrowth 2010-2017
4,533 41,591 114,4974,904 45,098 124,6264,201 37,909 101,7727.90% 9.71% 12.50%8.18% 8.43% 8.85%Growth 2017-2022
2017 Average Household Income2017 Median Household Income
2017 Average Household Size
$80,934 $80,090 $87,158$57,610 $57,848 $63,026
2.00 2.20 2.30
2,274 50.17% 20,825 50.07% 51,299 44.80%Renter Occupied
2017 Median Home Value $215,739 $194,525 $209,661
4,533 41,590 114,4972017 Occupied HousingOwner Occupied 2,259 49.83% 20,765 49.93% 63,198 55.20%
$25,000 - $50,000< $25,000
$75,000 - $100,000$50,000 - $75,000
970 7,419 19,4871,056 10,609 25,991737 7,419 20,436602 5,309 14,578283 3,506 10,631340 2,547 6,844$125,000 - $150,000
$100,000 - $125,000
234 2,404 7,970311 2,378 8,559$ 200,000+
$150,000 - $200,000
POPULATION
HOUSEHOLDSHOUSEHOLDS
HOUSEHOLDSINCOME
HOUSEHOLDSHOUSING VALUE
PROPERTY DESCRIPTION
Ethylene propylene diene monomar(EPDM) rubber membrane
PROPERTY DESCRIPTION
DESCRIPTION OVERVIEWLOCATION: 903 E Bitters Road,
San Antonio, TX 78216
PROPERTY ID: 12060-000-0040
NET RENTABLE AREA: Approximately 49,991 SF
LAND SIZE: Approximately 3.909 AC
YEAR BUILT: 1986
OCCUPIED SF: 42,539 SF
PARKING: 219 Surface Spaces4.4:1,000 SF
CURB CUTS: 5
ZONING: C-3
ROOF:
CONSTRUCTION: Reinforced concrete slab foundation on grade; steel framed; concrete tilt wall; exterior walls consist of painted stuc-co, brick veneer, clay tile veneer, and
MAJOR TENANTS: Advance Auto Parts, Cosmic Mayhem, Wing Daddy’s
NUMBER OF STORIES: 1
NUMBER OF BUILDINGS: 1
painted concrete
FRONTAGE: The property has approximately 269 feet of frontage along E Bitters Road and ap-proximately 327 feet of frontage along
Heimer Road
SIGNAGE: Building signage and two pylons
OCCUPIED %: 85.1%
PROPERTY DESCRIPTION
PROPERTY PHOTOS
PROPERTY DESCRIPTION
SITE PLAN
zhen daySPA
308
31630
5
Imagery ©2016 Google, Map data ©2016 Google 1000 ft
REDONDOPLACE
SAN ANTONIOINTERNATIONAL
AIRPORT
WOODLANDSOF CAMINO
REAL
N.E.I.S.D.ATHLETICCENTER
N
S
W EAERIAL MAP
SILVERHORNGOLF CLUB
BLUFFVIEWAT CAMINO
REAL
HILLCOUNTRYVILLAGE
WEST AV
E.
BITTERS RD.
WURZBACH PARKWAY
ENCHANTEDVILLAGE
SANTA FETRAILS
GARDENSAT BROOKHOLLOW
OAKHOLLOW
PROPERTY DESCRIPTION
Untitled map
Untitled layer
PROPERTY DESCRIPTION
ReGIONAL MAPRedondo Place is located in North Central San Antonio just one block east of the heavily traf-ficked intersection of U.S. Highway 281 and Bit-ters Road (+40,000 vehicles per day). The prop-erty sits in a prominent area just north of the San Antonio International Airport.
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FOR MORE INFORMATION CONTACT:
5101 Broadway, Suite 200 | San Antonio, Texas 78209www.valcorcre.com
CHARLIE MALMBERG, CCIM, CPM210-446-4742
GARY STEPHENS, CCIM, MRE210-446-4742
