Current Use by Public Records
- Lifestyle centers
Property Details for 250 Us Hwy 290 #
- Year built
- 2001
- Lot size
- 0.40 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 4,204 square foot shopping center in Elgin, Texas presents a compelling investment opportunity. Boasting a 6.90% cap rate and a compelling asking price of $1,650,000, this property offers strong returns. The center is fully occupied (100%) by two tenants, secured by corporate guarantees, providing stability and predictable income. Built in 2001 and extensively renovated in 2023, the single-story, Class B building sits on a 0.402-acre lot and includes 28 parking spaces. The property features a convenient C-1 Neighborhood Shopping District zoning. The Net Operating Income (NOI) is $113,761, reflecting a price per square foot of $392.48. Lease options and rent bumps are in place, ensuring future income growth. This is a turnkey investment with a proven track record, offering a rare opportunity to acquire a well-maintained, high-performing retail property in a thriving Texas market. The property is located at 250 W US HIGHWAY 290 # A, ELGIN, TEXAS 78621. This is a multi-tenant property with a strong tenant mix. The property is well-maintained and offers a great opportunity for investors seeking a stable, high-yielding investment.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Elgin
- County
- Travis
- State
- Texas
- Longitude
- -97.3732
- Latitude
- 30.3376
