114 W 9th St - Storefront Retail/Office FOR SALE


Mission, TX 78572
$2,553,300 USD
847-562-8500
114 W 9th St, Mission, TX for Sale
$2,553,300 USD
Storefront Retail/Office - FOR SALE
1/3
null | 8.15% Cap Rate

114 W 9th St
Mission, TX 78572


HIGHLIGHTS

  • Positioned within the McAllen MSA
  • Texas is an income tax free state
  • Significant 3% annual rental escalations
  • Proximity to Interstate 2 (70,800 VPD)
  • Nearby tenants include H-E-B, Planet Fitness, PNC Bank, Bank of America, Mobile, & several others
  • Several block south of Mission High School (2,000 students)

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Biomat USA property positioned within the McAllen MSA in Mission, Texas. Biomat USA has been operating at this location since 2017 when they signed a 10-year lease. The current lease runs through May 2027 and features significant 3% annual rental escalations throughout the remaining term, along with three 5-year renewal options. The lease is triple net and features no landlord responsibilities. Additionally, Texas is an income tax free state. The 13,858-square-foot building benefits from its location just off the intersection of West 9th Street and North Conway Avenue, which together experience over 27,900 vehicles per day. Several nationally recognized tenants occupy the same intersection, including H-E-B, Planet Fitness, PNC Bank, Bank of America, T-Mobile, and many others. Additionally, the property is several blocks south of Mission High School, which serves 2,000 students. There are over 160,900 people that live within a five-mile radius and earn an average household income of $80,235. The subject is less than a 15-minute drive from the Mexico Border. BioMat USA, Inc. is a subsidiary of Grifols, a multinational pharmaceutical and chemical manufacturer headquartered in Barcelona, Spain. Founded in 1909, the company is the largest global producer of plasma-based products and has over 23,000 employees. Grifols operates over 400 plasma donation centers throughout Europe, the United States, Canada, and Egypt. Grifols has been a pioneer in advancing plasma science, as the company has numerous achievements including developing the plasmapheresis procedure that revolutionized the safe and efficient collection of plasma.

FOR SALE DETAILS

PRICE

$2,553,300 USD

PRICE/SF

$185 USD /SF

CAP RATE

8.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Biomat USA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1976

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.83 AC

LAND SF

36,155 SF

ZONING

C-3

APN/PARCEL ID

M5200-00-146-0001-00

ASK ABOUT THIS PROPERTY

Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

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Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.