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Investment Highlights

  • Prime location surrounded by a plethora of national retailers and restaurants that create demand in one of San Antonio’s most active locations.
  • Exceptional visibility along SE Military Drive, which carries approximately 24,635 cars per day, and Interstate 37, with roughly 76,151 cars per day.
  • NNN ground lease with over 12 years remaining on the primary lease, plus options, providing any investor with passive long-term income.
  • Upside potential with the building reverting to the landlord at the term's end, with the ability to convert ground rent to land and building rent.

Executive Summary

Discover 2368 Military Drive, a newly constructed restaurant offering a long-term absolute NNN ground lease with over 12 years remaining on the primary term by Bubba’s 33, a subsidiary of Texas Roadhouse, averaging weekly sales around $163,000. The building totals approximately 9,352 square feet and was built in 2023 on a large 94,656-square-foot lot, providing excellent site coverage, strong curb appeal, and long-term functionality for a national tenant. The building is equipped with air conditioning, a dedicated turn lane, and monument, pylon, and prominent on-site signage, all designed to support high-volume restaurant operations. Multiple extension options and a 10% rent increase every five years provide investors with built-in income growth and long-term inflation protection.

Bubba’s 33 offers seamless access to Interstate 37 for commuters and customers, with Downtown San Antonio approximately 7 miles away. The site benefits from exceptional visibility with exposure to over 76,000 vehicles daily. 2368 Military Drive is ideally positioned near the Brooks Corner Shopping Center, co-anchored by Target, The Home Depot, and H-E-B, with additional junior anchors such as Ross Stores, Petco, Burlington, and Boot Barn. Proximity to a Walmart-anchored center with Sam’s Club and Best Buy and a dense concentration of national restaurant and retail tenants such as Chick-fil-A, Whataburger, Starbucks, IHOP, and 7 Brew Coffee creates a powerful retail and dining corridor that consistently drives consumer traffic.

The surrounding area is home to approximately 225,334 residents within a 5-mile radius. The median age of 36.3 aligns well with Bubba’s 33’s target customer base, and the area is projected to experience an annual population growth rate of approximately 3.84 % between 2025 and 2030, reinforcing long-term consumer demand and tenant sustainability. 2368 Military Drive presents a secure investment backed by a best-in-class restaurant in one of San Antonio’s most active locations.

Property Facts

Sale Type
Investment NNN
Sale Conditions
1031 Exchange
Property Type
Retail
Property Subtype
Restaurant
Building Size
9,352 SF
Building Class
B
Year Built
2023
Price
$4,216,590 CAD
Price Per SF
$450.88 CAD
Cap Rate
5.15%
NOI
$217,280 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
2.17 AC
Opportunity Zone
Yes
Parking
63 Spaces (6.74 Spaces per 1,000 SF Leased)
Frontage
158’ on Southeast Military Drive

Amenities

  • Dedicated Turn Lane
  • Pylon Sign
  • Restaurant
  • Signage
  • Monument Signage
  • Air Conditioning

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Texas Roadhouse Inc.
  • Accommodation and Food Services
  • 9,352 SF
  • $23.22 CAD
  • Triple Net
  • Jul 2038
Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Texas Roadhouse Inc. Accommodation and Food Services 9,352 SF $23.22 CAD Triple Net Jul 2038
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100

Nearby Major Retailers

7 Brew Coffee
Pluckers
Bubba's 33
Texas Roadhouse
Black Bear Diner
Amegy Bank
Cheddar's Scratch Kitchen
Mcalister's Deli
Outback Steakhouse
Salad and Go

Property Taxes

Property Taxes

Parcel Number
10879-008-0070
Land Assessment
$1,849,965 CAD
Improvements Assessment
$4,010,940 CAD
Total Assessment
$5,860,905 CAD
  • Listing ID: 39341342

  • Date on Market: 2026-02-05

  • Last Updated:

  • Address: 2638 Southeast Military Dr, San Antonio, TX 78235

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