1620 Texas Blvd Weslaco, TX 78596
- Retail properties
- 2,226 SF
- 1.05 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1620 Texas Blvd
- Year built
- 2024
- Lot size
- 1.05 lot acres
- Property size
- 2,226 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a newly constructed (2024), 2,226 square foot Starbucks drive-thru building situated on a 1.05-acre lot in Weslaco, Texas. The property benefits from a 10-year, absolute net (NN) lease with a corporate guarantee from Starbucks, featuring four, five-year renewal options and 10% rental increases every five years. The current annual net operating income (NOI) is $145,000, resulting in a 6.00% cap rate and a price per square foot of $1,085.35. Strategically located on a pad site adjacent to a high-performing Walmart Neighborhood Market, this location enjoys significant foot traffic, with the Walmart seeing 1.23 million visits in the past year, ranking in the 89th percentile of all Texas grocery stores. The property shares ingress and egress with the Walmart, further enhancing its visibility and accessibility. The site is situated at a signalized intersection of W 18th St & Texas Blvd, experiencing a combined 16,500 vehicles per day. This investment offers a compelling combination of a strong tenant, favorable lease terms, and a prime location within a thriving retail environment. The property's address is 1620 S Texas Blvd, Weslaco, TX 78596. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with significant long-term growth potential.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Weslaco
- County
- Hidalgo
- State
- Texas
- Longitude
- -97.9907
- Latitude
- 26.1418
