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SPI Hardware Building 4012 Padre Blvd

8,252 SF Retail Building South Padre Island, TX 78597 £1,447,533 (£175/SF) 6.50% Net Initial Yield

Executive Summary

GROUND LEASE! Great Investment Opportunity on SPI. Lease is NNN with competitive cap rate. Must sign NDA to receive financials. Don't miss out on this opportunity. Long Term Ground Lease. Real Estate Only, Doesn't include business.

Property Facts

Sale Type
Investment NNN
Sale Condition
Ground Lease Sold
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
8,252 SF
Building Class
B
Year Built
2018
Price
£1,447,533
Price Per SF
£175
Net Initial Yield
6.50%
NOI
£94,090
Tenancy
Single
Number of Floors
2
Building FAR
0.42
Lot Size
0.46 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
Commercial - Form Based Code Zoning. Building and use is conforming
Parking
8 Spaces (0.97 Spaces per 1,000 SF Leased)
Frontage
125 ft on Padre Blvd

Amenities

  • Corner Lot
  • Tenant Controlled HVAC
  • Wheelchair Accessible
  • Storage Space
  • Air Conditioning
  • Smoke Detector
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Nearby Major Retailers

BurgerFi
IGA

PROPERTY TAXES

Parcel Number 676400-1120-001000 Improvements Assessment £0
Land Assessment £0 Total Assessment £573,342

PROPERTY TAXES

Parcel Number
676400-1120-001000
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£573,342
(956) 572-3191

Contact

  • Patrick McNulty
    Patrick McNulty
  • Patrick McNulty, Broker

  • Listing ID: 32628904

  • Date on Market: 30/07/2024

  • Last Updated:

  • Address: 4012 Padre Blvd, South Padre Island, TX 78597

The Retail Property at 4012 Padre Blvd, South Padre Island, TX 78597 is currently available for sale. Contact Patrick McNulty, Broker for more information.

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4012 Padre Blvd, South Padre Island, TX for sale Primary Photo- Image 1 of 8
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4012 Padre Blvd, South Padre Island, TX for sale Building Photo- Image 2 of 8
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4012 Padre Blvd, South Padre Island, TX for sale Building Photo- Image 3 of 8
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4012 Padre Blvd, South Padre Island, TX for sale Building Photo- Image 4 of 8
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4012 Padre Blvd, South Padre Island, TX for sale Building Photo- Image 5 of 8
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4012 Padre Blvd, South Padre Island, TX for sale Building Photo- Image 6 of 8
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4012 Padre Blvd, South Padre Island, TX for sale Building Photo- Image 7 of 8
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© 2024 CoStar Group

SPI Hardware Building | 4012 Padre Blvd
(956) 572-3191 x

SPI Hardware Building | 4012 Padre Blvd

Patrick McNulty

(956) 572-3191

(956) 572-3191

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