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    1815 Expressway 83 Penitas, TX 78576

    For Sale
    $2,627,000

    High-Yield Sonic, Fee Simple Ownership

    Property size:
    1,227 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional investment opportunity presents a fee-simple interest in a brand-new, 1,227 square-foot Sonic Drive-In located in Penitas, Texas. Built in 2024, this property boasts a 20-year absolute NNN lease with a corporate guarantee from Crush TX, LLC, featuring 7.5% rent bumps every five years. Situated on a 1.05-acre lot with 49 parking spaces, the property enjoys a prime location on Expressway 83, a major thoroughfare with 55,900 daily vehicles. The outparcel location to a Walmart Supercenter, proximity to a 128-unit apartment complex, and presence in a thriving fast-food corridor with national brands ensures high visibility and strong consumer traffic. The property's strong demographics, including a 5-mile trade area population exceeding 45,000 and an average household income of $57,905, further solidify its investment potential. The current NOI is $144,475, representing a 5.50% cap rate on the $2,627,000 asking price. This is a management-free investment with significant long-term growth potential. The property is zoned C-1 Commercial and has a Hidalgo County APN of M4165-02-000-0005-00. The lease includes two five-year renewal options. 100% occupancy ensures immediate cash flow.

    Property Features for 1815 Expressway 83

    General Information

    Property type
    Restaurants
    Square Feet
    1,227 SF
    Lot Size
    45,738 SF

    Building Details

    Year Built
    2024

    HighLights

    • $2,627,000 asking price for a fee‑simple interest (land & building) in a new Sonic Drive‑In.
    • Absolute NNN lease with corporate guarantee from Crush TX, LLC.
    • Brand new 20‑year lease with two 5‑year options; 7.5% rent increases every 5 years.
    • 1,227 square feet; 100% occupancy; $144,475 NOI; 5.50% cap rate.
    • Located in Penitas, TX (Hidalgo County), on a 1.05‑acre lot with 49 parking spaces, outparcel to a Walmart Supercenter.
    Property Profile Location Intelligence

    Current Use by Public Records

    Denny's American Restaurant The Burger Den Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Penitas
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.4413841
    Latitude
    26.2437876

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    FAQs

    What type of property is this?
    Restaurant - High-Yield Sonic, Fee Simple Ownership
    Where is this restaurant located?
    The property is located at 1815 Expressway 83 Penitas, TX.
    What is the asking price?
    The asking price for this property is $2,627,000.
    What are key features of this property?
    This property features: $2,627,000 asking price for a fee-simple interest (land & building) in a new Sonic Drive-In.; Absolute NNN lease with corporate guarantee from Crush TX, LLC.; Brand new 20-year lease with two 5-year options; 7.5% rent increases every 5 years.
    Request Owner's contact information
    1815 Expressway 83 Penitas, TX 78576
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    Penitas, TX 78576
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1815 Expressway 83 Penitas, TX 78576
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