1815 Expressway 83, Penitas, TX 78576
- Retail properties & Spaces
- 1,227 SF
- 1.05 lot acres
Current Use by Public Records
- Denny's / Restaurant
- The Burger Den / Restaurant
Property Details for 1815 Expressway 83
- Year built
- 2024
- Lot size
- 1.05 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple interest in a brand-new, 1,227 square-foot Sonic Drive-In located in Penitas, Texas. Built in 2024, this property boasts a 20-year absolute NNN lease with a corporate guarantee from Crush TX, LLC, featuring 7.5% rent bumps every five years. Situated on a 1.05-acre lot with 49 parking spaces, the property enjoys a prime location on Expressway 83, a major thoroughfare with 55,900 daily vehicles. The outparcel location to a Walmart Supercenter, proximity to a 128-unit apartment complex, and presence in a thriving fast-food corridor with national brands ensures high visibility and strong consumer traffic. The property's strong demographics, including a 5-mile trade area population exceeding 45,000 and an average household income of $57,905, further solidify its investment potential. The current NOI is $144,475, representing a 5.50% cap rate on the $2,627,000 asking price. This is a management-free investment with significant long-term growth potential. The property is zoned C-1 Commercial and has a Hidalgo County APN of M4165-02-000-0005-00. The lease includes two five-year renewal options. 100% occupancy ensures immediate cash flow.
Value Estimations
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Penitas
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.4414
- Latitude
- 26.2438
