1403 Interstate Hwy San Juan, TX 78589

Property Details for 1403 Interstate Hwy

Year built

2023

Lot size

1.73 lot acres

Property size

7,818 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a 7,818-square-foot Olive Garden restaurant on a 1.73-acre lot in San Juan, Texas, within the McAllen-Edinburg-Mission MSA. Built in 2023, the property boasts an absolute NNN ground lease with approximately 8.5 years remaining, featuring four, five-year renewal options with a 10% rent increase in 2028 and each subsequent option. The property enjoys 100% occupancy and generates a strong net operating income (NOI) of $145,000, resulting in a 5.50% cap rate. The asking price is $2,636,400. This prime retail location offers excellent visibility and accessibility along East Interstate Highway 2 (102,481 vehicles per day), situated just three miles east of its intersection with North Interstate Highway 69C (91,800 vehicles per day). The site benefits from high traffic counts and is strategically located near other popular restaurants and retailers, including Chili's Grill & Bar, Starbucks, Walmart Supercenter, and numerous other national brands. The Olive Garden restaurant has demonstrated exceptional performance, welcoming 120,300 visitors across 282,400 visits in the past 12 months, showing a 101.1% year-over-year growth. Ample parking is available with 131 spaces. This is a rare opportunity to acquire a high-performing, net-leased property in a thriving market.