Learn more about this property
Details: Retail
Asking Price: $2,618,000
Square Feet: 10,400 SF
Asking Cap Rate: 5.50%
Year Built: 2005
NOI: $144,019
Lease Structure: Absolute NNN
O’Reilly – Subway – Dominos
704 N Main St, La Feria, TX 78559
THE OPPORTUNITY
- O’Reilly Auto Parts anchored center with co-tenants Subway and Domino’s Pizza
- 100% leased
- Long-term tenancy with all tenants operating at this location for over 15 years
- NNN lease structure allows CAM, Tax, and Insurance expenses to be passed through to tenants. Landlord responsible for Roof and Structure.
- Necessity-based tenant mix provides stable flow of recurring traffic
- Rent Growth: Scheduled annual rent increases and options; near-term Subway expiration offers ability to increase renewal rent.
THE HIGHLIGHTS
- Excellent visibility on corner lot with traffic counts of 12,000 VPD
- Located along busy retail corridor just off Interstate 2 with major national need-based tenants in the immediate area
- Multiple access points with three (3) points of ingress and egress and full access to property from both intersecting roads
- Nearby middle school and high school supports a growing daytime population
- 2022 Population:
- 1 Mile – 6,200
- 3 Mile – 15,583
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