Property Details for 626 Interstate Hwy

Year built

2023

Lot size

1.00 lot acres

Property size

7,926 SF

Property type

Retail properties & Spaces

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a 7,926 square foot Texas Roadhouse ground lease in Weslaco, Texas. Located at 626 E Interstate Hwy 2, this single-tenant property boasts a prime location within The Shops at N Bridge retail center, surrounded by established national brands like Freddy's, James Avery, and ULTA, ensuring high foot traffic and crossover shopping. The 15-year absolute NNN lease, commencing December 1, 2023, and expiring November 30, 2038, includes 10% rent bumps every five years, providing a strong hedge against inflation. With a substantial remaining lease term of 14 years, this property offers predictable cash flow and minimal landlord responsibilities. The property sits on one acre of land and benefits from its advantageous proximity to major thoroughfares, including Interstate 2 and Expressway 83, ensuring high visibility and accessibility. The strong demographics of the area, including a densely populated region and proximity to South Texas College and several high schools, further enhance the investment potential. The asking price is $3,239,000, representing a 5.25% cap rate and a $170,000 net operating income (NOI). This is a well-below-market investment opportunity considering the tenant's significant capital investment and strong financial performance. The property's location within a thriving retail corridor, near Walmart, H-E-B, and other major retailers, solidifies its long-term value and potential for appreciation. The property is ideally suited for a 1031 exchange.

Location Insight

City

Weslaco

County

Hidalgo

State

Texas

Longitude

-97.9849

Latitude

26.172