Current Use by Public Records
- Retail properties & Spaces
Property Details for 3501 Nolana Ave
- Year built
- 2024
- Lot size
- 1.18 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple interest (land and building) in a Starbucks located at 3501 W Nolana Ave, McAllen, TX 78504. The property boasts a newly constructed (2024), 2,038 square foot building featuring a drive-thru, situated on a 1.18-acre lot with 30 parking spaces. The property benefits from a strong location at a signalized intersection, averaging 54,200 vehicles daily, with convenient access to Interstates 2 and 69C. The Starbucks enjoys a 10-year corporate lease with four 5-year options, featuring a 7.5% rent increase at the beginning of each option period. The current lease provides a Net Operating Income (NOI) of $151,000, resulting in a 5.50% cap rate. The property is zoned C-3: General Business and is surrounded by a dense retail area including Target, Walmart, and other national brands, as well as numerous residential communities. The 5-mile trade area supports over 225,400 residents and 115,700 daytime employees, with an average household income of $87,811. This single-tenant, 100% occupied property offers a low-management, passive investment opportunity with significant long-term growth potential. The asking price is $2,745,000.
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
- -98.2538
- Latitude
- 26.2421
