1411 E Expressway 83 - Restaurant FOR SALE


San Juan, TX 78589
$2,363,700 USD
404-441-3849
1411 E Expressway 83, San Juan, TX for Sale
$2,363,700 USD
Restaurant - FOR SALE
1/9
null | 5.5% Cap Rate

1411 E Expressway 83
San Juan, TX 78589


HIGHLIGHTS

  • NNN Ground Lease with Renewal Options | Recent 2023 Construction | 10% Rent Increase in 2028
  • Top Visited Location | This Location Ranks Among the Top 22% of Chili's Restaurants Nationwide and Top 21% Throughout TX (Placer.ai).
  • Excellent Access & Visibility | Located Roughly 6 Miles East of Downtown McAllen | Along East I-2 (102,481 VPD)
  • Chili’s is adjacent to Olive Garden, Denny’s and an upcoming 100-room Home2 Suites and is within feet of Walmart Supercenter.
  • Dynamic Demographics | Population of 82,639 & Average HH Income of $66,271 within a 3-Mile Radius
  • McAllen-Edinburg-Mission, TX MSA Advantage | MSA Population: 910,138

OVERVIEW

The CBRE Net Lease Property Group is pleased to exclusively offer for sale an ±8.0-year NNN Chili’s ground lease situated on 1.47 acres in San Juan, Texas—part of the McAllen-Edinburg-Mission, TX MSA (MSA Population: 910,138). Chili’s 5,105-square-foot building was recently constructed in 2023, and its lease features a 10% rent increase in 2028 and in each of the four 5-year renewal options. Rio Grande Valley is Chili’s’ most profitable market in the country. By visits, this San Juan location ranks among the top 22% of Chili’s restaurants nationwide and top 21% throughout Texas (Placer.ai).

FOR SALE DETAILS

PRICE

$2,363,700 USD

PRICE/SF

$463 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Chili's Grill & Bar: San Juan, TX

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

105

LAND DETAILS

LAND ACRES

1.47 AC

LAND SF

64,033 SF

ZONING

EC

APN/PARCEL ID

P7544-00-000-0003-00

ASK ABOUT THIS PROPERTY

Christopher BosworthCBRE, Inc.More Info
404-441-3849

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

Christopher BosworthCBRE, Inc.More Info
404-441-3849

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