1709 Expy 83, Penitas, TX 78576-8338
- Strip malls
- 20,980 SF
- 2.11 lot acres
Current Use by Public Records
- Little Caesars Pizza / Restaurant
- Thighstop / Restaurant
- Sally Beauty / Cosmetic Store
- Wingstop / Restaurant
- T-Mobile Authorized Retailer / Mobile Phone Store / Electronics & Wireless Store
Property Details for 1709 Expy 83
- Year built
- 2012
- Lot size
- 2.11 lot acres
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- M4165-02-000-0003-00
- APU
- M416502000000300
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 29, 2012 | — | Penitas Partners LLC | Wal-mart Stores Texas LLC | Grant Deed | $2.1M · Banterra Bank |
| — | — | Penitas Partners LLC | — | Loan Modification · related | — |
Description
This exceptional 21,000-square-foot shopping center in Penitas, Texas, presents a compelling investment opportunity. Strategically located on Expressway 83, this 100% occupied, multi-tenant retail center benefits from its proximity to a Walmart Supercenter, driving significant traffic with approximately 2.9 million annual visits. The property boasts a strong tenant base, with 75% national tenants including a Dollar Tree anchor store (NASDAQ: DLTR), and a complementary mix of internet-resistant, service-oriented businesses such as Wingstop, T-Mobile, Sally Beauty Supply, Little Caesar's, Case De Hilo, Texan Credit Corporation, Action Credit, and a nail salon. All nine tenants are on triple-net leases, minimizing landlord responsibilities. Built in 2012, the center sits on a 2.11-acre lot with ample parking, and enjoys high visibility on a major thoroughfare with over 38,311 vehicles passing daily. The location benefits from its proximity to several schools and the McAllen-Edinburg-Mission and Reynosa-McAllen metropolitan areas, serving a population of approximately 1.5 million people. The property's strong NOI of $325,703 and 7.25% cap rate, coupled with its strategic location and tenant mix, make it an attractive investment. The asking price is $4,492,500, with a price per square foot of $213.93.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $710,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,514,000
Market price range: $920k - $2.34M -
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $1,655,000 Current use
- WAREHOUSE, STORAGE
- $1,680,000 Change: +2% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Penitas
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.4437
- Latitude
- 26.2443
- CBSA code
- 32580
- CBSA name
- MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA
