629 Zaragoza Rd El Paso, TX 79907

Property Details for 629 Zaragoza Rd

Year built

2024

Lot size

0.95 lot acres

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a brand-new, 2,020-square-foot Starbucks with a drive-thru, situated on a 0.95-acre lot in El Paso, Texas. The property boasts a strong 10-year NNN lease with a prominent national tenant, Starbucks (S&P: A-), commencing August 27, 2024, and expiring August 31, 2034. The lease includes four 5-year renewal options, each with a 10% rent increase. The current Net Operating Income (NOI) is $145,000, yielding a 5.50% cap rate on the $2,635,000 asking price. This strategically located outparcel is part of Zaragoza Village, a shopping center anchored by a high-performing El Super grocery store (ranked in the top 8% of the chain by Placer.ai). The location benefits from exceptional visibility and high traffic volume, situated at a major intersection with over 55,000 cars per day. Zaragoza Village itself is ranked among the top 25% of neighborhood centers nationwide based on consumer traffic (Placer.ai). The strong demographics of the area, with 210,860 people within a 5-mile radius, and proximity to the Yselta-Zaragoza border crossing (5+ million annual crossings), further enhance the investment potential. El Paso's robust economy, as the sixth-largest city in Texas and a top 20% U.S. performer, provides a stable and growing market. The property's APN is D38299900100410. This is a rare opportunity to acquire a high-performing, single-tenant investment property with a blue-chip tenant in a thriving market.