1709 Expy 83 Penitas, TX 78576-8338

Property Details for 1709 Expy 83

Year built

2012

Lot size

2.11 lot acres

Property size

20,980 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

M4165-02-000-0003-00

APU

M416502000000300

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.

Location Insight

City

Penitas

County

Hidalgo

State

Texas

Longitude

-98.4437

Latitude

26.2443

CBSA code

32580

CBSA name

MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments