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Texas Roadhouse 626 E Interstate 2

7,926 SF 4-Star Retail Building Weslaco, TX 78596 £2,555,571 (£322/SF) 5.25% Net Initial Yield

Investment Highlights

  • New 15-Year Absolute NNN Ground Lease to Notable National Tenant
  • Densely Populous Border City Poised for Growth
  • Anchor to a Developing Shopping & Dining Center
  • New 2023 Construction in Tax-Free State

Executive Summary

Anchor to The Shops at N Bridge: Prominently located at 1 of 2 entrances to this developing retail center and surrounded by tenants such as Freddy’s Frozen Custard & Steakburgers, James Avery, Cold Stone Creamery, and ULTA, allowing for significant crossover shopping
Beneficial Proximity to Major US Thoroughfares: Located at the southwest corner of North Frontage Road/East Expressway 83 (20,227 AADT) and Interstate 2 (99,457 AADT), significantly increasing traffic in the surrounded area
Located In A Strong Retail Corridor: The property is near major national brands such as Walmart Supercenter, H-E-B, Lowe’s Home Improvement, T.J. Maxx, Petco, and many others
Surrounded By Well-Attended Schools: 1.4 miles from South Texas College - Mid-Valley Campus (31,000+ students) and Weslaco High School (2,430 students) and near Donna High School (2,046 students), increasing lunchtime traffic to the site
Advantageous Proximity to Residential Communities: Well-positioned in a growing border city and surrounded by high-density single-family housing developments and apartment complexes
Densely Populated Area: 110,287 residents live within five miles of the property
Access to Purchasing Power from A Metroplex: The location provides access to purchasing power from the Reynosa-McAllen metroplex (population 1.5 million), the South Texas region, and affluent northern Mexican markets

Property Facts

Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,926 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2023
Price
£2,555,571
Price Per SF
£322
Net Initial Yield
5.25%
NOI
£134,130
Tenancy
Single
Number of Floors
1
Building FAR
0.08
Land Acres
2.21 AC
Parking
170 Spaces (21.45 Spaces per 1,000 SF Leased)
Frontage
181 ft on East Interstate Highway 2

Amenities

  • Air Conditioning

Nearby Major Retailers

Buddy's Home Furnishings
H-E-B
PJ's Coffee of New Orleans
LongHorn Steakhouse
Olive Garden Italian Rstrnt
Golden Corral
Starbucks
Rent-A-Center
Denny's
Bar-B-Cutie
  • Listing ID: 31193907

  • Date on Market: 21/08/2024

  • Last Updated:

  • Address: 626 E Interstate 2, Weslaco, TX 78596

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