Current Use by Public Records
- Retail properties & Spaces
Property Details for 1201 Hwy
- Year built
- 2023
- Lot size
- 1.60 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Office Spaces
Description
This exceptional investment opportunity presents a brand-new, 12,996 square foot medical office building in McAllen, Texas. Built in 2023, the property boasts a fee-simple ownership structure and a strong 10.4-year remaining lease term (expiring 03/30/2035) with CenterWell Senior Primary Care (a Humana subsidiary), the nation's largest senior-focused primary care provider. The lease is a triple-net (NNN) structure, minimizing landlord responsibilities. The property features a corporate guarantee and built-in rent bumps of 10% in each of four, five-year lease options. Located on a busy expressway with high visibility and surrounded by major retailers, this property offers a 6.15% cap rate and a substantial net operating income (NOI) of $328,149. The asking price is $5,335,756, translating to $410.57 per square foot. Situated on a 1.6-acre lot, this single-tenant building enjoys 100% occupancy. The property's prime location in McAllen, a rapidly growing Texas city near the US-Mexico border, benefits from strong economic growth and excellent access to major transportation arteries, including Interstate 69C and Interstate 2. This is a rare opportunity to acquire a high-quality, passively managed investment with significant long-term potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- McAllen
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.2059
- Latitude
- 26.1994
