Party City & LensCrafters | 914 Dixieland Rd
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Party City & LensCrafters 914 Dixieland Rd
14,400 SF 100% Leased 4-Star Retail Building Harlingen, TX 78552 £3,374,923 (£234/SF) 6.50% Net Initial Yield
Investment Highlights
- 100% leased two-tenant retail asset featuring iconic corporate tenants
- Scheduled rental increases for all leases, providing a hedge against inflation
- Next to several exceptionally strong performing retailers including Target (79th percentile) and Walmart Supercenter (98th percentile)
- Two-tenant asset allows for investment diversification
- High-quality 2023 construction
- Located in the heart of Harlingen’s primary shopping district between Valle Vista Mall and Harlingen Corners (combined 121 stores, 1M SF of retail)
Executive Summary
This two-tenant property has a high-visibility and easily accessible location along Dixieland Road
The property has immediate access to highly trafficked Texas thoroughfares, including Interstate 2 and U.S. Route 77 (combined 163,531 AADT)
The site is neighbored by one of only six Target locations in the central Rio Grande Valley and the first in the lower Rio Grande Valley
Ideally set in a large retail corridor, the property is surrounded by notable retailers such as Valle Vista Mall and Harlingen Corners (combined 121 stores, one million SF of retail space), Burlington, Academy Sports + Outdoors, Five Below, Chick-fil-A, and many more, creating significant crossover shopping
This dual-tenant property experiences a high daily influx of Mexican citizens who cross the border for shopping and leisure (daytime population of 107,476 residents within a five-mile radius)
100,217 residents live within a five-mile radius of the site, providing an extremely large and reliable customer base
The property has immediate access to highly trafficked Texas thoroughfares, including Interstate 2 and U.S. Route 77 (combined 163,531 AADT)
The site is neighbored by one of only six Target locations in the central Rio Grande Valley and the first in the lower Rio Grande Valley
Ideally set in a large retail corridor, the property is surrounded by notable retailers such as Valle Vista Mall and Harlingen Corners (combined 121 stores, one million SF of retail space), Burlington, Academy Sports + Outdoors, Five Below, Chick-fil-A, and many more, creating significant crossover shopping
This dual-tenant property experiences a high daily influx of Mexican citizens who cross the border for shopping and leisure (daytime population of 107,476 residents within a five-mile radius)
100,217 residents live within a five-mile radius of the site, providing an extremely large and reliable customer base
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
14,400 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2023
Price
£3,374,923
Price Per SF
£234
Net Initial Yield
6.50%
NOI
£219,346
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.21
Land Acres
1.56 AC
Parking
43 Spaces
Frontage
195 ft on Dixieland Road
Amenities
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 18-4031-0000-0020-00 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £737,602 |
PROPERTY TAXES
Parcel Number
18-4031-0000-0020-00
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£737,602
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Power Broker Vincent Aicale -
Power Broker Ryan Forsyth -
Power Broker Michael Yuras -
Power Broker Scott Crowle -
Cushman & Wakefield
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Party City & LensCrafters | 914 Dixieland Rd
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