Cage Plaza | 1305 S Cage Blvd
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Cage Plaza 1305 S Cage Blvd
6,833 SF 100% Leased Retail Building Pharr, TX 78577 $2,182,938 ($319/SF) 7% Cap Rate
Investment Highlights
- Long Tem Leases
- Strategic Retail Location
- High Traffic Counts
- Minimal Landlord Responsibilities
- Economic Trade Area
- Strong Demographics
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase Cage Plaza, a well-maintained retail plaza located at 1305 S Cage Boulevard in Pharr, Texas (the “Property”). Cage Plaza is a 6,833 square foot retail plaza on a 0.74-acre parcel that is 100% leased to a complimentary mix of four tenants. The center is leased to Kiki’s Restaurant, Total by Verizon, Polish me Pretty Nail Salon, and Cash Store. Each of the tenants have net leases making it an attractive investment for the passive investor and protecting the in-place cash flow against rising costs of service and labor. Cage Plaza is positioned adjacent to the signalized intersection of E Ridge Road and S Cage Boulevard (US Route 281), two of the area’s primary commercial and commuter corridors. The Property is adjacent to CVS and across the street from an H-E-B plus!, the area’s dominant grocer, both of which drive significant traffic to the area. The Property is 2-miles from the junction of Interstates 2 and 69C and is surrounded by area schools and densely populated residential neighborhoods that provide a captive customer base.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
6,833 SF
Building Class
B
Year Built
2014
Price
$2,182,938
Price Per SF
$319
Cap Rate
7%
NOI
$152,806
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Land Acres
0.74 AC
PROPERTY TAXES
Parcel Number | C9837-00-000-0002-00 | Improvements Assessment | $501,150 |
Land Assessment | $515,160 | Total Assessment | $1,016,310 |
PROPERTY TAXES
Parcel Number
C9837-00-000-0002-00
Land Assessment
$515,160
Improvements Assessment
$501,150
Total Assessment
$1,016,310
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Cage Plaza | 1305 S Cage Blvd
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