4305 Old Highway 77 Brownsville, TX 78520

Property Details for 4305 Old Highway 77

Year built

2001

Lot size

6.46 lot acres

Property size

68,587 SF

Zone code

C

Property type

Commercial real estate

APN

01-9349-0010-0010-00

APU

193490010001000

Description

This exceptional investment opportunity presents a fee-simple interest in a 67,180-square-foot Academy Sports + Outdoors, located at 4305 Old Hwy 77, Brownsville, TX 78526. The property sits on a 6.46-acre lot and boasts a 6.60% cap rate with a Net Operating Income (NOI) of $489,926. The property features an absolute NNN lease with a credit-rated, corporate-guaranteed tenant, ensuring minimal landlord responsibilities. The lease, originally commencing November 1, 2002, has approximately 2.9 years remaining, with three 5-year renewal options. Rent bumps are set at 95% of fair market value, capped at 107%. Academy Sports + Outdoors has occupied this location for nearly 22 years, demonstrating a strong commitment to the site. This location ranks within the top 11% nationally for store visits. The property benefits from high visibility, with exposure to over 126,000 vehicles per day on Interstate 69E, and is situated near other major shopping centers. The surrounding area has experienced significant population growth, with a 32% increase within a one-mile radius since 2010. The current rent is significantly below market value at $7.29 per square foot. Built in 2001, this property offers a secure and profitable investment opportunity in a thriving retail market. The property's location in Brownsville, Texas, a vital trade center serving as a gateway between the U.S. and Mexico, provides access to a large regional trade area extending into Mexico.

Location Insight

City

Brownsville

County

Cameron

State

Texas

Longitude

-97.5147

Latitude

25.9669

CBSA code

15180

CBSA name

BROWNSVILLE-HARLINGEN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments