1414 W University Dr - Freestanding FOR SALE


Edinburg, TX 78539
$3,788,000 USD
480-221-4221
1414 W University Dr, Edinburg, TX for Sale
$3,788,000 USD
Freestanding - FOR SALE
1/25
null | 5.75% Cap Rate

1414 W University Dr
Edinburg, TX 78539


HIGHLIGHTS

  • 11 Years Remaining | Corporate Guaranteed Lease | Scheduled Rental Increases
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Dense Population In 5-Mile Trade Area | Direct Consumer Base
  • Major Thoroughfare | Interstate 69C (70,100 VPD) | Dual Drive-Thru
  • Dense Retail Corridor | Near 24-Hour Walmart Supercenter | Directly Across From University Of Texas Rio Grande Valley

OVERVIEW

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building) in an absolute NNN leased, newly constructed, corporate guaranteed, dual drive-thru equipped, Taco Palenque, investment property located in Edinburg, TX. The tenant, TP UT RGV, LLC (dba Taco Palenque), has 10 years remaining in their current lease with 3 (5-year) options to extend. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is corporate guaranteed by Palenque Investments, LLC, and is absolute NNN with zero landlord responsibilities. The property was formally a multi-tenant strip retail center, which was acquired and demolished for Taco Palenque.

FOR SALE DETAILS

PRICE

$3,788,000 USD

PRICE/SF

$899 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Taco Palenque w/ Dual Drive-Thru

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.88 AC

LAND SF

38,333 SF

ZONING

CG

APN/PARCEL ID

S3620-00-000-0001-00,S3620-00-000-0001-05

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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