Taco Palenque w/ Dual Drive-Thru 1414 W University Dr

4,213 SF 4-Star Retail Building Edinburg, TX 78539 $3,630,000 ($862/SF) 6% Cap Rate

INVESTMENT HIGHLIGHTS

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

EXECUTIVE SUMMARY

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.

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,213 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2019
Price
$3,630,000
Price Per SF
$862
Cap Rate
6%
NOI
$217,800
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.88 AC
Zoning
CG - Commercial General
Parking
13.77 Spaces per 1,000 SF Leased

AMENITIES

  • Freeway Visibility
  • Restaurant
  • Signage
  • Drive Thru
Walk Score®
Very Walkable (74)

NEARBY MAJOR RETAILERS

El Pato Fresh Mexican Food
Bank of America
Jason's Deli
Planet Fitness
7 Brew Coffee
Chase Bank
PNC Bank
Denny's
Chili's Grill & Bar
TruFit

PROPERTY TAXES

  • Listing ID: 34359752

  • Date on Market: 1/3/2025

  • Last Updated:

  • Address: 1414 W University Dr, Edinburg, TX 78539