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Peñitas Plaza - Availability Details

1715 Expressway 83, Peñitas, TX 78576

  • For Sale $2,700,000
  • City Peñitas
  • Neighborhood Penitas
  • Zip Code 78576
  • Market McAllen
  • Property Type Retail - Strip
  • Property Size 30,000 Sqft
  • Lot Size 3.82 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 2004
  • Date Updated 14 May, 2021
The subject property is located on the north side of Expressway 83, the major east-west thoroughfare in the city. Traffic counts are approximately 31,000 vehicles per day in front of the property. Walmart Supercenter is directly north of the property, and other neighboring retailers include Dollar Tree, Sally Beauty Supply, Wingstop, Boost Mobile, BBVA Bank, Dollar General, United States Postal Service, and more. John F Kennedy Elementary School is located across from Walmart and has an enrollment of around 900 elementary students. Peñitas is a city in Hidalgo County near the United States border with Mexico. The city is 14 miles from McAllen and 26 miles from Rio Grande City. It is part of the McAllen–Edinburg–Mission and Reynosa–McAllen metropolitan areas. The city is served by the La Joya Independent School District, and the South Texas Independent School District operates magnet schools that also serve the community.
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Contacts

broker

Philip Levy

The Levy Retail Group

(972) 755-5225

Highlights

  • Walmart Shadow-Anchored Multi-Tenant Retail Center
  • 90% Occupied | 33% of the Gross Leasable Area has Triple-Net Leases
  • Upside Potential | Pro Forma Cap Rate is 11.88%
  • Anchored by Melrose Department Store
  • 72% of the Gross Leasable Area has Credit Tenants
  • Expressway Location on the City's Major East-West Thoroughfare | Traffic Counts are Approximately 31,000 Thousand Vehicles per Day
  • Near John F Kennedy Elementary School with Approximately 900 Students
  • Peñitas is Part of the McAllen–Edinburg–Mission and Reynosa–McAllen Metropolitan Areas
  • Priced at $90 per Square Foot

Contact Listing Broker

broker

Philip Levy

The Levy Retail Group

(972) 755-5225

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