OAKS AT COUNTRY MORNING | OFFERING MEMORANDUM
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OAKS AT COUNTRY MORNING | OFFERING MEMORANDUM 3023 Thousand Oaks Drive | San Antonio, Texas 78247
OAKS AT COUNTRY MORNING
EXCLUSIVE OFFERING SAN ANTONIO, TEXAS
DAVID F NICOLSON
Property 3023 Thousand Oaks Drive
President | San Antonio San Antonio, Texas 78247
210.581.8227
davidn@weitzmangroup.com Building Area 15,051 SF Gross Leasable Area
Land Area 1.62 acres
MARCUS SHAFFER
Sr. V.P | San Antonio
Parking Asphalt parking lot. Good Condition.
210.581.8226
mshaffer@weitzmangroup.com
Year of 2005
Construction
Current 100%
Occupancy
PHO TOMMY
-2- WEITZMAN
Oaks at Country Morning | Offering Memorandum OAKS AT COUNTRY MORNING
SAN ANTONIO, TEXAS
TABLE OF CONTENTS
EXECUTIVE SUMMARY 4
PROPERTY DESCRIPTION 6
TENANT PROFILES 7
RENT ROLL 8
SITE PLAN 9
LOCATION MAP 10
AERIAL 11
SAN ANTONIO SNAPSHOT 12
DEMOGRAPHICS 15
DISCLAIMER 16
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OAKS AT COUNTRY MORNING
EXECUTIVE SUMMARY SAN ANTONIO, TEXAS
FINANCIAL OVERVIEW
Adjusted Gross Income $480,050
Operating Expenses $140,720
Net Operating Income $339,330
Sales Price $4.5 million
Cap Rate 7.5 CAP
DEMOGRAPHICS
1-mile 3-mile 5-mile
Population 17,788 84,748 245,128
Average HH Income $81,179 $82,135 $83,228
Source: ESRI
TRAFFIC COUNTS (ESTIMATES)
Thousand Oaks 23,032
Jones Maltsberger 15,000
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OAKS AT COUNTRY MORNING
EXECUTIVE SUMMARY SAN ANTONIO, TEXAS
LOCATION
The Oaks at Country Morning is a 15,051-SF shopping
center located at 3023 Thousand Oaks Drive in San
Antonio. This center is located in a highly trafficked
location adjacent to H-E-B and surrounded by dense
residential neighborhoods.
TENANT BASE
Retailers and services at Oaks at Country Morning include
Piaza Italia, Cricket, Jones Audiology, PHO Tommy #1, LT
Salon, and Comfort Dental.
TENANTS
Pizza Italia 4,870 SF
Cricket 1,000 SF
Jones Audiology 1,500 SF
PHO Tommy #1 1,480 SF
LT Salon 1,500 SF
Comfort Dental 4,700 SF
The information contained herein was obtained from sources deemed reliable; however, Weitzman has not verified it and makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this real estate information is subject to
errors; omissions; change of price; prior sale or lease; or withdrawal without notice. You and your advisors should conduct a careful independent investigation of the property to determine if it is suitable for your intended purpose.
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OAKS AT COUNTRY MORNING
PROPERTY DESCRIPTION SAN ANTONIO, TEXAS
DEMOGRAPHICS
The Oaks at Country Morning Shopping Center trade area encompasses a dense
population with above average incomes for the San Antonio area. 1-mile 3-mile 5-mile
Withion a 1-mile radius of this center, there are 17,788 people in 7,341 households Population 17,788 84,748 245,128
with an average annual household income of $81,179. Total Households 7,341 33,515 96,057
The average household income within a 3-mile radius of the property is $82,135 Average HH Income $81,179 $82,135 $83,228
with 84,748 people in 33,515 households.
5-yr Population Growth 8.0% 8.0% 9.0%
The 5-mile average household income is $83,228 with 245,128 people in 96,057
households.
TRAFFIC COUNTS (ESTIMATES)
Thousand Oaks 23,032 vpd
Jones Maltsberger 15,000 vpd
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OAKS AT COUNTRY MORNING
TENANT PROFILES SAN ANTONIO, TEXAS
Pizza Italia - This neighborhood spot offers hand-tossed & thin-crust pizzas, pasta & a
long beer list.
Website: pizzaitaliasa.com
Cricket - Cricket is a prepaid wireless retailer offering phones and prepaid mobile
plans.
Website: cricketwireless.com
Jones Audiology - Jones Audiology is part of the Connect Hearing family of centers.
Connect Hearing is committed to providing industry-leading hearing health care in a
nationwide network of hearing centers.
Website: connecthearing.com
PHO Tommy #1 - This neighborhood restaurant offers Vietnamese, Chinese and Thai PHO TOMMY
food to an enthusiastic local following.
Website: pho-tommy.business.site
LT Salon - LT Salon offers a range of services that include professional nail care,
massages, salon services, women’s and men’s foot cre, waxing and sking care.
Comfort Dental - Comfort Dental is the largest, true dental franchise in America, with
over 100 locations in 13 states across the United States. Comfort Dental was founded
in 1977 by Rick Kushner, DDS.
Website: comfortdental.com
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OAKS AT COUNTRY MORNING
RENT ROLL SAN ANTONIO, TEXAS
SUITE TENANT SF % OF PROPERTY LEASE TERM MONTHLY BASE RENT MISC CHARGES TOTAL CHARGES
START END PSF TOTAL
101 PIZZA ITALIA 4,870 32.3% SEP 2009 AUG 2021 $1.58 $7,710.83 $3,794.48 $11,505.31
104 CRICKET 1,000 6.7% AUG 2016 FEB 2020 $2.00 $2,000.00 $779.19 $2,779.19
105 JONES AUDIOLOGY 1,500 10.0% AUG 2008 AUG 2021 $1.67 $2,500.00 $1,168.73 $3,668.73
106 PHO-TOMMY #1 1,480 9.8% DEC 2016 MAY 2022 $1.67 $2,466,67 $1,153.33 $3,620.00
107 LT SALON 1,500 10.0% JUN 2011 MAY 2021 $1.92 $2,875.00 $1,168.73 $4,043.73
110 COMFORT DENTAL 4,700 31.2% JUN 2011 SEP 2026 $1.75 $8,225.00 $3,662.23 $11,887.23
UNITED SERVICES 1 DEC 2016 MAR 2022 $2,000.00 $0.00 $2,000.00
(ATM)
TOTAL 15,051 $28,277.50 $11,726.69 $40,004.19
TOTAL LEASED 15,051 100%
-8- WEITZMAN
SITE OAKS AT COUNTRY MORNING |
THEPLAN 3023 THOUSAND OAKS DR, SAN ANTONIO, TX 78247
COUNTRY MORNING
Pho Tommy Noodle
THOUSAND OAKS DRIVE
The information was obtained from sources deemed reliable; however, Weitzman has not verified it and makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this real estate information
is subject to errors; omissions; change of price; prior sale or lease, or withdrawal without notice. You and your advisors should conduct a careful independent investigation of the property to determine if it is suitable for your intended purpose.
LOCATION OF OAKS AT COUNTRY MORNING LOCATION MAP
AERIAL OAKS AT COUNTRY MORNING-
SAN ANTONIO, TEXAS
THE OAKS AT COUNTRY MORNING | 3023 THOUSAND OAKS DR, SAN ANTONIO, TX 78247
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The informaaon was obtained from sources deemed reliable; however, Weitzman has not verified it and makes no guarantees, warrannes or representaaons as to the completeness or accuracy thereof. The presentaaon of this real estate informaaon is subject to errors; omissions; change of
price; prior sale or lease, or withdrawal without nooce. You and your advisors should conduct a careful independent invessgaaon of the property to determine if it is suitable for your intended purpose. R:PS\SA\FA\Thousand Oaks & Jones Maltsberger Flier December 2016
- 11 -SAN ANTONIO SNAPSHOT
SAN ANTONIOOAKS AT COUNTRY MORNING
SAN ANTONIO SNAPSHOT SAN ANTONIO, TEXAS
STRONG GROWTH IN A VIBRANT METRO AREA
Ranked the 7th largest city in America, San Antonio continues to grow PROJECTED
as young professionals and businesses take notice of the abundant AREA POP 2018 POP 2023 GROWTH
opportunity the market offers. The San Antonio MSA population has 2018-2023
grown by 46.74% between 2000 and 2018 and is predicted to increase an
additional 9.44% by 2023.
SAN ANTONIO 1,457,400 1,549,088 6.29%
San Antonio stands as Bexar County’s largest city, accounting for almost
40% of the county’s geographic area and about 75% of the county’s
estimated population. The city encompasses a total geographic area of
467 square miles. The total land area for Bexar County is 1,247 square
BEXAR COUNTY 1,983,678 2,150,771 8.42%
miles.
(Source: 2018 ESRI)
HOUSEHOLD INCOME METRO AREA (MSA) 2,511,792 2,748,963 9.44%
The 2018 average household income for the City of San Antonio was
$70,019. That rises to $77,664 for Bexar County, and $80,162 for the San
Source: ESRI 2018
Antonio MSA. The median household income was $50,296 for the city,
$55,102 for Bexar County and $57,234 for the San Antonio MSA.
(Source: ESRI)
San Antonio Bexar County San Antonio MSA San Antonio MSA
467 square miles 1,247 square miles 2000-2018 growth average HH income
46.74% $80,162
- 13 - WEITZMANOAKS AT COUNTRY MORNING
SAN ANTONIO SNAPSHOT SAN ANTONIO, TEXAS
CORPORATE HEADQUARTERS
San Antonio is home to six Fortune 500 companies and numerous
corporate and regional headquarters to major employers such as H-E-B,
USAA, Valero Energy and Toyota Motor Truck Manufacturing. San Antonio
is home to the South Texas Medical Center, the only medical research and
care provider in the South Texas region.
EDUCATIONAL INSTITUTIONS
Several major universities and colleges call San Antonio their home,
including The University of Texas at San Antonio, The University of Texas
Health Science Center, Trinity University and St. Mary’s University, to name
a few.
ENTERTAINMENT AND TOURISM
Attactions such as Six Flags Fiesta Texas, Sea World San Antonio, and the
Paseo del Rio (River Walk) make San Antonio the second most-visited city
in Texas. The city also hosts the annual Stock Show and Rodeo, one of
the largest such events in the country, and is home to the five-time NBA
champion San Antonio Spurs.
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DEMOGRAPHICS SAN ANTONIO, TEXAS
1-mile 3-mile 5-mile
Population
2018 Total Population 13,281 87,276 237,190
2023 Est. Total Population 13,632 91,444 250,758
2018 Total Daytime Population 13,017 114,682 359,663
Households
2018 Total Households 5,221 35,460 96,421
2023 Est. Total Households 5,351 37,023 101,590
Business Overview
Total Employees 2,916 43,133 147,530
Total Businesses 305 3,383 11,752
Education Attainment
Population 25 years and older 9,612 61,772 164,175
No High School Diploma 3.9% 5.0% 6.7%
High School Graduate, GED or Alternative 21.2% 22.6% 22.4%
College, No Degree 23.5% 24.3% 24.0%
College or Advanced Degree 51.4% 48.1% 46.9%
- 15 - WEITZMANOAKS AT COUNTRY MORNING
DISCLAIMER SAN ANTONIO, TEXAS
This real estate presentation has been prepared for information purposes only, and does not purport to
contain all the information necessary to reach a purchase decision for the property described herein (the
“Property”). The information contained herein (the “Information”) has been carefully compiled but not
independently verified by the Seller or Weitzman, and there is no representation, warranty or guarantee
whatsoever as to its completeness or accuracy.
Any potential purchaser shall rely entirely on its own information, judgment and inspection of the Property
and its records, and neither the Seller nor Weitzman assume any liability whatsoever for errors or omissions
in the Information or any other data provided in connection with the Property. Each potential purchaser
and any party related thereto agrees that neither Seller nor Weitzman shall have any liability for any reason,
whether for negligence or gross negligence, from the use of the Information by any person in connection
with the purchase of or any other investment in the Property by a purchaser or any other party related
thereto.
Neither the Seller nor Weitzman has any liability whatsoever for any oral or written representations,
warranties or agreements relating to the Property except as expressly set forth by any such party in any
contract of sale executed in connection with the Property.
This presentation is subject to changes by the Seller as to price or terms, to prior sale, to withdrawal of the
Property from the market, and other events beyond the control of the Seller and Weitzman.
The information contained herein was obtained from sources deemed reliable; however, Weitzman has not verified it and makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this real estate information is subject to
errors; omissions; change of price; prior sale or lease; or withdrawal without notice. You and your advisors should conduct a careful independent investigation of the property to determine if it is suitable for your intended purpose.
- 16 - WEITZMANINFORMATION ABOUT BROKERAGE SERVICES
Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.
TYPES OF REAL ESTATE LICENSE HOLDERS: AS AGENT FOR OWNER (SELLER/LANDLORD): to the transaction. The written agreement must AS SUBAGENT: A license holder acts as a subagent
• A BROKER is responsible for all brokerage The broker becomes the property owner’s agent state who will pay the broker and, in conspicuous when aiding a buyer in a transaction without an
actives, including acts performed by sales through an agreement with the owner, usually in a bold or underlined print, set forth the broker’s agreement to represent the buyer. A subagent can
agents sponsored by the broker. written listening to sell or property management obligations as an intermediary. A broker who acts as assist the buyer but does not represent the buyer
• A SALES AGENT must be sponsored by a agreement. An owner’s agent must perform the an intermediary: and must place the interests of the owner first.
broker and works with clients on behalf of the broker’s minimum duties above and must inform the • Must treat all par es to the transaction
broker. owner of any material information about the property impartially and fairly; TO AVOID DISPUTES, ALL AGREEMENTS
or transaction known by the agent, including • May, with the par es’ written consent, appoint BETWEEN YOU AND A BROKER SHOULD BE IN
A BROKER’S MINIMUM DUTIES REQUIRED BY information disclosed to the agent or subagent by a different license holder associated with the WRITING AND CLEARLY ESTABLISH:
LAW (A client is the person or party that the the buyer or buyer’s agent. broker to each party (owner and • The broker’s duties and responsibilities
broker represents): buyer) to communicate with, provide opinions to you, and your obligations under the
• Put the interests of the client above all others, AS AGENT FOR BUYER/TENANT: The broker and advice to, and carry out the instructions representation agreement.
including the broker’s own interests; becomes the buyer/tenant’s agent by agreeing of each party to the transaction. • Who will pay the broker for services provided
• Inform the client of any material information to represent the buyer, usually through a written • Must not, unless specifically authorized in to you, when payment will be made and how
on about the property or transaction received representation agreement. A buyer’s agent must writing to do so by the party, disclose: the payment will be calculated.
by the broker; perform the broker’s minimum duties above and ° that the owner will accept a price less
• Answer the client’s questions and present must inform the buyer of any material information than the written asking price; LICENSE HOLDER CONTACT INFORMATION:
any offer to or counter-offer from the client; about the property or transaction known by the ° that the buyer/tenant will pay a price This notice is being provided for information
and agent, including information disclosed to the agent greater than the price submitted in a purposes. It does not create an obligation for you
• Treat all par es to a real estate transaction by the seller or seller’s agent. written offer; and to use the broker’s services. Please acknowledge
honestly and fairly. ° any confidential information or any other receipt of this notice below and retain a copy for
AS AGENT FOR BOTH - INTERMEDIARY: To act information that a party specifically your records.
A LICENSE HOLDER CAN REPRESENT A PARTY as an intermediary between the par es the broker instructs the broker in writing not to
IN A REAL ESTATE TRANSACTION: must first obtain the written agreement of each party disclose, unless required to do so by law.
Weitzman 402795 twgre@weitzmangroup.com 214-954-0600
Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Email Phone
Robert E. Young, Jr. 292229 byoung@weitzmangroup.com 214-720-6688
Designated Broker of Firm License No. Email Phone
Bryan Daniel Parman 423209 bparman@weitzmangroup.com 210-581-8236
Licensed Supervisor of Sales Agent/ Associate License No. Email Phone
David Nicolson 425595 davidn@weitzmangroup.com 210-366-5050
Sales Agent/Associate’s Name License No. Email Phone
Buyer/Tenant/Seller/Landlord Initials Date
REGULATED BY THE TEXAS REAL ESTATE COMMISSION INFORMATION AVAILABLE AT WWW.TREC.TEXAS.GOV
11-2-2015 IABS 1-0OAKS AT COUNTRY MORNING OAKS AT COUNTRY MORNING-
OFFERING MEMORANDUM SAN ANTONIO, TEXAS
Presented by:
70 NE Loop 410 | Suite 450 | San Antonio, Texas 78216
DAVID NICOLSON MARCUS SHAFFER
davidn@weitzmangroup.com mshaffer@weitzmangroup.com
210.581.8227 210.581.8226
WEITZMANGROUP.COM
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