8012 10Th St McAllen, TX 78504

Property Details for 8012 10Th St

Year built

2007

Lot size

8.80 lot acres

Property size

63,027 SF

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