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

4,213 SF 4-Star Retail Building Edinburg, TX 78539 $3,788,000 ($899/SF) 5.75% Cap Rate

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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.