2933 Expressway 83 Mission, TX 78572
- Retail properties
- 2,325 SF
- 1.07 lot acres
Current Use by Public Records
- Gaby's Restaurant / Mexican Restaurant
Property Details for 2933 Expressway 83
- Year built
- 2023
- Lot size
- 1.07 lot acres
- Property size
- 2,325 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a brand-new Wendy's restaurant in Mission, Texas, boasting a 20-year absolute NNN lease commencing August 2023. The 2,325 square foot building, constructed in July 2023, sits on a 1.07-acre lot at a high-visibility hard corner intersection of Interstate 2 and La Homa Road, experiencing over 83,000 vehicles daily. The lease includes four 5-year options, extending the potential lease term to 2063, with a 10% rent increase every five years. The property benefits from a strong trade area, serving a population exceeding 130,000 within a 5-mile radius, with the nearest competitor located 6.5 miles away. The asking price is $2,589,286, representing a price per square foot of $1,113.67 and a 5.60% cap rate, with a current Net Operating Income (NOI) of $145,000. This Class A asset minimizes future capital expenditures, offering a secure and lucrative investment in a thriving Texas market. The McAllen-Edinburg-Mission area is the fifth largest MSA in Texas, with a robust economy and low retail vacancy rates. This Wendy's location is poised for continued success due to its prime location and strong brand recognition. The property's current occupancy is 100%.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mission
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.3622
- Latitude
- 26.2304
