Plaza 494
Retail | 7.68% CAP | 11,970 SqFt
Marketing description
Plaza 494 is a 11,970-square-foot fully occupied retail center in Mission, Texas, within the McAllen MSA. Positioned along high-traffic North Shary Road (24,000 VPD) with a main entrance directly on the corridor, the property benefits from strong visibility and access to more than 227,000 residents within a five-mile radius. Its tenant mix—including fitness, home décor, insurance, construction, and mortgage businesses—balances daily neighborhood demand with destination traffic. With staggered lease expirations that support stable cash flow and rent growth, Plaza 494 offers a well-performing, community-oriented retail asset in a thriving trade area.
Investment highlights
PROPERTY - Plaza 494 is a 11,970 square foot retail center in Mission, TX, in the McAllen MSA, with one point of ingress/egress.
LOCATION - Located on N Shary Road, the property benefits from excellent visibility with 24,000 vehicles per day. The center features a main entrance directly on N Shary Road. Its prime location captures both daily residential traffic and destination visits from the broader trade area.
STRONG DEMOGRAPHICS - With 227,485 residents within a 5-mile radius and a tenant mix that aligns with the needs of the trade area, the property is well-positioned to capture both residential and professional spending.
STAGGERED LEASE EXPIRATIONS - The property’s rent roll is strategically crafted to have tenants expiring in different years to help minimize cash flow fluctuations and maintain consistent rent growth.
OCCUPANCY - The property is 100% occupied by six tenants with strong co-tenancy. This is the perfect neighborhood center with a mix of local tenants that cater to the surrounding density. The gym and home decor stores bring consistent local customers, while the insurance, construction, and mortgage offices serve as destination businesses.
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