8012 N 10Th St, McAllen, TX 78504

Property Details for 8012 N 10Th St

Year built

2007

Lot size

8.80 lot acres

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 63,027-square-foot, two-tenant shopping center in McAllen, Texas. Anchored by a high-performing Best Buy, this fully stabilized asset boasts 100% occupancy and triple-net leases, generating a strong NOI of $866,489 and a 7.25% cap rate. Built in 2007 on an 8.8-acre lot, the property benefits from a prime location on North 10th Street, experiencing daily traffic counts exceeding 26,677 vehicles. Its strategic position near a major intersection and a new $120 million mixed-use development ensures continued high visibility and strong tenant demand. The surrounding area features a dense population with high average household incomes and numerous national retailers, creating a robust retail environment. Current rents are below market, offering significant upside potential. This property represents a compelling investment opportunity in a thriving Texas market, with a strong tenant base and exceptional growth prospects. The second tenant is a regional indoor play center. Both leases include renewal options with built-in rental increases. The asking price is $11,952,000, reflecting a price per square foot of $189.63. Within a three-mile radius, annual retail sales exceed $4.3 billion, and within five miles, they reach $11.16 billion. The property's location within the McAllen-Edinburg-Mission MSA and the Reynosa-McAllen Metropolitan Area provides access to a large consumer base of approximately 1.5 million people.

Location Insight

City

McAllen

County

Hidalgo

State

Texas

Longitude

-98.215628671673

Latitude

26.276003372884