651 Morrison Rd, Brownsville, TX 78526

Property Details for 651 Morrison Rd

Year built

2024

Lot size

1.54 lot acres

Property type

Retail properties & Spaces

Property subtype

Retail space

Description

This exceptional investment opportunity presents a brand-new, 4,650-square-foot 7-Eleven convenience store and Laredo Taco, situated on a 1.543-acre lot in Brownsville, Texas. Built in 2024, the property boasts a 15-year corporate NNN lease with a highly reputable tenant, 7-Eleven (S&P rated A), the world's largest chain store operator. The lease commenced November 1, 2024, and expires November 1, 2039, offering significant long-term stability. The lease includes four 5-year renewal options and attractive rent bumps of 7.5% every five years throughout the primary term and option periods. The property features 48 parking spaces and 6 multi-pump dispensers (MPDs). Located at 651 E Morrison Rd, Brownsville, TX 78526, this asset benefits from its strategic placement near Sunrise Mall, a major shopping center with over 100 stores and restaurants, in a high-growth trade area within the rapidly expanding Rio Grande Valley. The property generates a strong net operating income (NOI) of $361,160, resulting in a compelling 5.25% capitalization rate. The asking price is $6,880,000, translating to $1,479.57 per square foot. This is a rare opportunity to acquire a high-performing, passively managed asset with a blue-chip tenant in a thriving market. The property's location in Brownsville, the 8th largest Metropolitan Statistical Area (MSA) in Texas, with a population exceeding 186,738, further enhances its investment appeal. The 100% occupancy ensures immediate cash flow and minimal vacancy risk.

Location Insight

City

Brownsville

County

Cameron

State

Texas

Longitude

-97.502

Latitude

25.9669