Freestanding Sonic Investment
1815 E Expressway 83, Penitas, TX 78576
New 20-year NNN lease with rental increases in Penitas, Texas.
Type:Retail
Property size:
1,227 SFPrice / SF:
$1,884/SF- Added:
- Jun 10, 2025
- Days on Market:
- 337
- Last Refresh:
- Mar 17 at 1:26 pm
Property Features for 1815 E Expressway 83
General Information
- Standard status
- Active
- Size
- 1,227 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2024
Listing agent Matthew Mousavi License #CA 01732226
Listing office SRS Real Estate Partners Newport Beach
Listing date Jun 10, 2025
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners Newport Beach
HighLights
- Brand new 20‑year absolute NNN lease offers a management‑free, passive investment.
- Enjoy steadily growing NOI and inflation hedging with 7.5% rental increases every 5 years.
- Located in a high‑traffic area near U.S. Highway 83 (55,900 VPD) and a Walmart Supercenter.
- Brand new construction (2024) with modern amenities and design.
- Situated in a developing fast food area with national tenants.
- Strong demographics with a 5‑mile trade area population of over 45,000.
Overview
This freestanding Sonic investment property is located in Penitas, Texas. The property is under an absolute NNN lease. The tenant, Crush TX, LLC, recently signed a new 20-year lease with two 5-year options to extend. The lease includes 7.5% rental increases every 5 years throughout the lease term and at the beginning of each option period. The property was recently constructed and is open for business. The operator, Crush TX, LLC, has developed over 14 Sonic Drive-Ins in South Texas and is implementing a $28 million Sonic Drive-In re-introduction to the Rio Grande Valley. The property is near U.S. Highway 83, which has an average daily traffic count of 55,900 vehicles. The Sonic is an outparcel to a Walmart Supercenter anchored center. The property is positioned southeast of the Villas at Penitas Apartments, a 128-unit multi-family complex. Sonic is situated in a developing fast food area with tenants including Wingstop, Panda Express, Chick-fil-A, and Starbucks. The property is in a primary retail corridor with nearby national tenants including H-E-B, Dollar General, Dollar Tree, Walgreens, and AutoZone. The 5-mile trade area has a population of over 45,000 with an average household income of $57,905. The building size is 1,227 square feet.
Location Intelligence
Current Use by Public Records
Denny's
Restaurant
The Burger Den
Restaurant
Location Insight
- Map
- Local Demand
- City
- Penitas
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.4426459
- Latitude
- 26.2443785
Nearby Similar for Sale
FAQs
What type of property is this?
Drive through restaurant - New 20-year NNN lease with rental increases in Penitas, Texas.
Where is this drive through restaurant located?
The property is located at 1815 E Expressway 83 Penitas, TX.
What is the asking price?
The asking price for this property is $2,312,000.
What are key features of this property?
This property features: Brand new 20‑year absolute NNN lease offers a management‑free, passive investment.; Enjoy steadily growing NOI and inflation hedging with 7.5% rental increases every 5 years.; Located in a high‑traffic area near U.S. Highway 83 (55,900 VPD) and a Walmart Supercenter.
