2101 Expressway 83 Penitas, TX 78576
- Retail space
- 2,244 SF
- 0.83 lot acres
Current Use by Public Records
- Starbucks Coffee / Coffee Shop
Property Details for 2101 Expressway 83
- Year built
- 2023
- Lot size
- 0.83 lot acres
- Property size
- 2,244 SF
- Property type
- Retail space
- Property subtype
- Storefront properties
Description
This exceptional investment opportunity presents a brand-new, 2023-constructed Starbucks located at 2101 E Expressway 83, Penitas, Texas 78576. The 2,244 square foot building sits on a 0.83-acre lot and features a drive-thru, ample parking, and excellent highway visibility and accessibility with over 38,311 vehicles per day passing by. The property boasts a 100% occupancy rate with a corporate-guaranteed, single-tenant net lease (NN) to Starbucks, offering a strong hedge against inflation with 10% rental escalations every five years. The remaining lease term is 9.5 years, providing a stable income stream. The property's strong financials include a $2,174,000 asking price, a $125,000 net operating income (NOI), and a 5.75% cap rate. The property is immediately adjacent to a newly announced 58-acre development featuring several multi-family tracts and national retailers including Five Below, Kohl's, PetSmart, Burlington, Ulta Beauty, Rack Room Shoes, DD's Discounts, Longhorn Steakhouse, and Olive Garden. This prime location offers significant growth potential and a secure investment with a highly reputable tenant. The price per square foot is $968.81. This is a rare opportunity to acquire a high-quality, net-leased asset with a strong tenant and excellent location.
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
- Penitas
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.438572015393
- Latitude
- 26.242900627468
