425 -427 S St Marys

Description

Co Broker is Mike Vasquez Virtus Realty. Subject property is located on a charming tree lined block within the rapidly evolving downtown San Antonio area. It is centrally placed inside a 1/2 mile radius of easy walking to the Alamo, Market Square, Tower Life Building, King William, San Antonio Riverwalk, Bexar County Courthouse, San Ferando Cathedral, Main Plaza, the highly anticipated Project Marvel and more! The upcoming VIA Green Line will stop about 750 feet to the north of subject bringing increased business traffic from local and out of town riders. The iconic Tower Life Building renovation includes plans for 242 living units and 18,000 sf of retail space. The economic spillover from Tower Life, King William and Lavaca enhances opportunity, value and use options for the subject property. Applying smart visibility options / concepts to the south wall creates valuable business identity. With approximately 6,800 SF of usable space on a slab foundation plus a ceiling height of about 15 feet, subject has versatility, strong upside and stability. Price reflects deferred maintenance. A new central A/C unit was recently installed. Updates should create immediate equity, value and income opportunities for the new owner / occupants. Building is multi-use with a Tex-Mex restaurant operating on the north side and law offices on the south side - both MTM. Each side has about 3,400 sf of "just right" space for small and mid-size use while the whole 6,800 is ideal for the midsize jump. Current C of O's are transferable to new occupants. D - zoning allows for various uses. The Pearl and Lower Broadway developments, project Marvel, Tower Life development, The Alamo redevelopment and the repurposing of existing buildings new life and opportunity is flowing into this area setting up ideal ground floor opportunities for investment or end users.