17719 Primera Rd Harlingen, TX 78552

Property Details for 17719 Primera Rd

Year built

2023

Lot size

1.50 lot acres

Property size

12,480 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 12,480-square-foot Dollar General Market in Harlingen, Texas. Located at 17719 Primera Rd, 78552, this single-tenant property boasts a 15-year absolute NNN lease with a corporate guarantee from a credit-rated tenant, ensuring minimal landlord responsibilities. The lease commenced November 27, 2023, and features a remaining term of 14 years, with built-in rent bumps of 10% every five years. The property sits on a 1.5-acre lot and benefits from a strong location within a densely populated area, serving over 80,000 residents within a five-mile radius. The property's high visibility and proximity to significant traffic generators further enhance its appeal. With a 7.00% cap rate and a net operating income (NOI) of $123,875, this represents a compelling investment opportunity with a price of $1,769,653 ($141.80/sq ft). The building was constructed in 2023 and enjoys 100% occupancy. This is a rare chance to acquire a stable, high-performing retail asset with significant long-term growth potential. The lease includes five, five-year options with 10% rent increases.