21820 Farm To Market 506, Santa Rosa, TX 78593
- Retail properties & Spaces
- 9,014 SF
- 1.47 lot acres
Current Use by Public Records
- Retail properties & Spaces
Property Details for 21820 Farm To Market 506
- Year built
- 2005
- Lot size
- 1.47 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Drug stores
Description
This exceptional retail investment opportunity presents a 9,014 square foot convenience store, grocery store, and pharmacy located at 21820 Farm to Market 506, Santa Rosa, Texas 78593. The property sits on a 1.47-acre lot and is 100% occupied by a portfolio of credit-rated national tenants: Dollar General, Dollar Tree, and Family Dollar. The current lease, a triple-net (NNN) agreement, commenced March 1, 2005, and expires February 28, 2031, with three remaining 5-year options, each including rent bumps (4.5% in Option 1, 10% in Options 2 & 3). The property boasts a strong net operating income (NOI) of $71,388, yielding a 7.50% cap rate on an asking price of $951,907. Built in 2005, this single-building property benefits from a strong demographic profile, including a 5-mile population exceeding 17,159 and a 10-mile population exceeding 146,200, with an average household income of $77,423. The tenant's long-term commitment is evident in their continuous operation since 2005, demonstrating the site's viability and market strength. Texas's income-tax-free status further enhances the investment's attractiveness. This is a rare opportunity to acquire a stable, high-performing retail asset with significant upside potential.
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
- Santa Rosa
- County
- Cameron
- State
- Texas
- Longitude
- -97.8252
- Latitude
- 26.2421
