3777 Expressway Brownsville, TX 78520
- Lifestyle centers
- 10,563 SF
- 1.65 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 3777 Expressway
- Year built
- 2017
- Lot size
- 1.65 lot acres
- Property size
- 10,563 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Las Palmas Plaza is a 10,563-square-foot, multi-tenant retail shopping center in Brownsville, Texas, built in 2017. This fully occupied (100%) property boasts a strong tenant mix, with 71% of the leasable area occupied by medical tenants: Northland Hearing Centers, Airostti Rehab Center, Baaxten Imaging, and Raymond James & Associates. All tenants are on triple-net (NNN) leases, providing a stable income stream. The center features attractive architecture and ample concrete parking on a 1.648-acre lot. Its prime location along North Expressway 83 benefits from exceptionally high traffic counts exceeding 115,030 vehicles daily. The property is strategically situated near major retailers including Sunrise Mall (anchored by Dillard's, JCPenney, Dick's Sporting Goods, and Cinemark), Olive Garden, Black Bear Diner, Longhorn Steakhouse, Target, TJ Maxx, and many others. The surrounding area is densely populated, with over 157,321 residents and approximately 50,000 daytime employees within a five-mile radius. The asking price is $3,697,000, representing a 7.50% cap rate and a NOI of $277,282. The property consists of five units with a price per square foot of $350. The seller acquired the property via a deed in lieu of foreclosure, and limited inspection materials are available.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brownsville
- County
- Cameron
- State
- Texas
- Longitude
- -97.508
- Latitude
- 25.9575
