Listed by Coldwell Banker Commercial Rio Grande Valley
$860,000
Bon Galbi Korean BBQ - McAllen, tx (net lease)
Details
Property Type Retail
Sub Type Restaurant
Net Rentable (SqFt) 2,880
Units 1
Cap Rate 8.47%
NOI $72,878
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Expiration 01/31/2030
Rent Bumps Yes
Buildings 1
Acreage 0.440
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 10/01/2024
Occupancy Date 12/01/2024
Retail | 8.47% CAP
Marketing description
This income producing property is located on North 23rd Street in McAllen, Texas. Great real estate with excellent long term investment potential. McAllen is one of the fastest growing cities in the state with a robust economy and an increasing commercial and residential demand. This building is set up as a QSR (former Dairy Queen) and is now operating as Bon Galbi Korean BBQ (new lease). The building is versatile with a drive thru in place.
Investment highlights
Excellent visibility
Superb access
Drive thru
NN lease with 3% annual rental escalations
One of McAllen’s busiest intersections
Established trade area and growing
Listing Contacts
Listed by Coldwell Banker Commercial Rio Grande Valley
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$72,878.00
$6,073.17/mo
Valuation Metrics
0
DSCR
8.47%
Cap Rate
8.47%
ROI
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