520 Broadway Ave Portland, TX 78374
- Retail properties
- 2,209 SF
- 0.20 lot acres
Current Use by Public Records
- Retail properties
Property Details for 520 Broadway Ave
- Lot size
- 0.20 lot acres
- Property size
- 2,209 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a fee-simple ownership of a 2,209 square foot retail property in Portland, Texas, currently leased to Alliance Animal Health under a 15-year net lease commencing December 20, 2023, and expiring December 20, 2038. The property sits on a 0.2-acre lot at 520 W Broadway Ave, Portland, TX 78374. The lease features a strong corporate guarantee and provides for annual rent increases of 2%, offering significant long-term stability and growth potential. The current annual net operating income (NOI) is $40,800, resulting in a compelling 6.50% capitalization rate. The asking price is $627,692, translating to a price per square foot of $284.15. The property boasts 100% occupancy and benefits from the recession-resistant nature of the pet care industry. This is a single-tenant, net-lease investment with a proven tenant and a long-term lease, making it an attractive addition to any portfolio. The property's location in Portland, Texas, offers convenient access to a growing community. This is a rare opportunity to acquire a high-performing, stable investment in a thriving sector.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- San Patricio
- State
- Texas
- Longitude
- -97.3247
- Latitude
- 27.8781
