12367 Pellicano Dr El Paso, TX 79928

Property Details for 12367 Pellicano Dr

Year built

2024

Lot size

0.86 lot acres

Property size

2,283 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a brand-new, 2,283 square foot Taco Bell restaurant in El Paso, Texas. Located at 12367 Pellicano Dr, this single-tenant property boasts a 20-year net lease (NNN) with four 5-year options, commencing October 1, 2024, and expiring October 31, 2044. The lease includes a corporate guarantee from Yum! Brands, Inc., providing significant financial stability. The property features a strong 4.40% cap rate and a substantial net operating income (NOI) of $80,000 annually. Rent increases of 10% every five years offer inflation protection. Situated on a 0.86-acre lot with 27 parking spaces, the property benefits from excellent visibility at a signalized intersection with over 46,000 vehicles per day. The location is part of the Monteverde mixed-use development in a densely populated area with an average household income exceeding $104,800, projected to rise above $120,400 by 2029. The property is zoned C-4 Commercial and is situated near major roadways, schools, and a hospital, further enhancing its appeal. This is a ground lease with 20 years remaining. The asking price is $1,818,181, representing a price per square foot of $796.40. This is a 1031 exchange eligible property. The building was constructed and renovated in 2024.