Texas·Data as of Q4 2025
San Antonio, TX CAM Reconciliation Guide
Vacancy rates, property tax system, operating expense benchmarks, and market-specific CAM billing considerations for San Antonio, TX commercial landlords.
Current Vacancy Rates
20.2%
Office Vacancy
4.5%
Retail Vacancy
7.5%
Industrial Vacancy
Source: CBRE/JLL Q4 2025 Market Reports
Average CAM per Square Foot
$9.50
Office /SF/yr
$7.00
Retail /SF/yr
$3.25
Industrial /SF/yr
Property Tax System
Assessment Authority
Bexar Appraisal District
Protest Procedure
File protest by May 15 (or 30 days after notice) with Bexar Appraisal District. ARB hearing; binding arbitration for properties under $5M.
Effective Tax Rate
~2.0-2.4% effective rate (no state income tax)
Key Submarkets
Downtown/River WalkNorth Central/Stone OakLa Cantera/The RimBrooks/SoutheastPort San AntonioNew Braunfels/I-35 Corridor
CAM Billing Considerations
- Military base (JBSA) influence on surrounding market demand
- Lower cost market with value-oriented tenants sensitive to CAM increases
- SAWS (water utility) costs increasingly material as CAM item
- No state income tax drives aggressive property tax valuations
- Growing data center market around outer loop corridors
Local BOMA Chapter
BOMA San Antonio
Market Context
San Antonio is a cost-sensitive market where even modest CAM overcharges significantly impact tenant economics. Property tax protests are essential given aggressive Bexar Appraisal District valuations.
Related Resources
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