Current Use by Public Records
- Retail properties & Spaces
Property Details for 921 Hwy
- Lot size
- 0.26 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This fee-simple retail property in McAllen, Texas, presents a compelling investment opportunity. The 1,104 square foot convenience store/fast-food storefront is currently 100% occupied by a corporate-guaranteed tenant under a 20-year NNN lease commencing October 1, 2024, and expiring October 1, 2044. The lease includes a favorable 3% annual rent increase, ensuring consistent income growth. The property boasts a strong net operating income (NOI) of $66,300, translating to a 6.15% cap rate on the $1,078,048 asking price. Situated on a 0.26-acre lot at 921 Hwy 83, McAllen, TX 78501, this asset offers a low-maintenance, passive income stream with minimal landlord responsibilities. The tenant, a major national title loan company with over 425 locations, provides significant financial stability and long-term growth potential. This is a rare opportunity to acquire a high-performing retail property in a tax-advantaged state with built-in rent escalations, offering substantial returns for investors seeking a secure and profitable investment. The property's location in a high-traffic area further enhances its appeal and potential for future appreciation. This is a truly exceptional opportunity for passive income generation.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- McAllen
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.23
- Latitude
- 26.2034
