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
![1414 W University Dr, Edinburg, TX for sale - Primary Photo - Image 1 of 25](https://images1.loopnet.com/i2/J8NAe2GkDr5mPtCatumbVuegVXH4eEhBkdObMywc4z4/110/1414-W-University-Dr-Edinburg-TX-Primary-Photo-1-Large.jpg)
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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
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 El Pato Fresh Mexican Food](https://images1.loopnet.com/i2/-lYokcZf-mfqBX5LYOWiE0K6PNvgdJeL4XEil_1-9z4/105/image.jpg)
![Bank of America Bank of America](https://images1.loopnet.com/i2/KcPChwyhu4u40ZumnqoCfl2yBMVws3KQSoksOFbvmUs/105/image.png)
![Jason's Deli Jason's Deli](https://images1.loopnet.com/i2/aNMZCGsK0mYyphFHzokAEvf35l471I5BZVqNGA0z41o/105/image.png)
![Planet Fitness Planet Fitness](https://images1.loopnet.com/i2/mI-eH_nkP7789gshZlcteLVsjZjHJUEb3jQt9-HjM2U/105/image.png)
![7 Brew Coffee 7 Brew Coffee](https://images1.loopnet.com/i2/JtkODprFmRTh00fLw4vsPZDYBoBq_yHMVbZHANu12Y4/105/image.png)
![Chase Bank Chase Bank](https://images1.loopnet.com/i2/bw7biemERZsLn6pwfbqBPxA99wBdOhsB0H3fRLW4AE8/105/image.png)
![PNC Bank PNC Bank](https://images1.loopnet.com/i2/fIhd6---TuxhiSC2zosoHH9m2w06pL87K0W47y_6BA0/105/image.png)
![Denny's Denny's](https://images1.loopnet.com/i2/3QV-TttQPX7pjJhpUituDabg8TTvWanf13famF2Xuao/105/image.png)
![Chili's Grill & Bar Chili's Grill & Bar](https://images1.loopnet.com/i2/i_vdtrnSiwFECN-BYe6FiECswPbJtLJDvaA-uAyq_R4/105/image.png)
![TruFit TruFit](https://images1.loopnet.com/i2/GXJLt87PrR3CLkRDT_ZfoGqLj2fQL5_AnZP6Ft4co28/105/image.png)
PROPERTY TAXES
Parcel Number | S3620-00-000-0001-00 | Improvements Assessment | $477,961 |
Land Assessment | $348,470 | Total Assessment | $826,431 |