203 Ferguson Ave Pharr, TX 78577
- Retail properties
- 8,125 SF
- 1.35 lot acres
Current Use by Public Records
- Retail properties
Property Details for 203 Ferguson Ave
- Lot size
- 1.35 lot acres
- Property size
- 8,125 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
Exceptional investment opportunity: a 100% occupied Dollar General in Pharr, Texas. This single-tenant, 8,125 square foot grocery store sits on a sizable 1.35-acre lot, offering significant upside potential. The property boasts a strong 7.60% cap rate and a substantial net operating income (NOI) of $62,702. The lease is a Net Net (NN) agreement with Dollar General Corporation, providing a corporate guarantee and investment-grade tenant (BBB rating, S&P). The current lease expires March 30, 2029, with three 5-year renewal options, each including a 10% rent increase. Recent improvements include two new HVAC systems installed in 2023 and a repaved and restriped parking lot. The property enjoys a high-traffic location off Highway 281, a major north-south corridor, and benefits from proximity to other national retailers such as Dairy Queen, Whataburger, 7-Eleven, Subway, Domino's Pizza, Burger King, and H-E-B. The area's dense demographics, with over 227,000 residents within a 5-mile radius and a daily traffic count exceeding 23,000 vehicles, ensure consistent customer flow. This is a turnkey investment with a secure tenant and significant long-term growth prospects. Asking price: $825,000 ($101.54/sq ft).
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pharr
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.1783
- Latitude
- 26.2123
