Listed by SAB Capital
$4,750,971
Santa Lucia Plaza | 100% Occupied Center | Pharr TX
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 15,152
Net Rentable (SqFt) 15,152
Units 9
Cap Rate 7%
NOI $332,568
Occupancy 100%
Tenancy Multi
Lease Type NNN
Remaining Term 3.1
Rent Bumps Yes
Price per SqFt $314
Year Built 2019
Acreage 1.460
Investment Type Net Lease
Ground Lease No
About This Property for Sale
Marketing description
Retail • 15,152 SF • 9 Units
Investment highlights
- 100% Occupied Retail Strip Center | The property features a strong mix of regional and service-oriented tenants across the rent roll
- Minimal Landlord Responsibilities | All tenants are operating on NNN leases, fully reimbursing for taxes, insurance, and CAM, ensuring the full recovery of all operating expenses
- High Quality New Construction Asset | The property was delivered in 2019 and features high-grade finishes and exposed brick architecture
- Excellent Traffic & Visibility |22,866+ vehicles per day along E Nolana Loop with strong visibility and ease of access
- Recently Extended Leases | Six tenants recently extended their leases, demonstrating their commitment to the site
- Supply Constrained Market | Pharr boasts a retail vacancy rate of just 2.0%, compared to the McAllen MSA's vacancy rate of 2.9%, both well below the national average of 4.4%
- Robust Local Population Growth | Pharr has experienced 6.0% population growth since 2020 within a 5-mile radius
- Regional Draw for Cross-Border Shoppers | The Rio Grande Valley attracts shoppers from across South Texas and northern Mexico, with McAllen-area retail sales reaching $17.5 billion in 2023
- Nearby Residential Development | Over 4,900 households have been added in the past five years, with an additional 5% growth expected by 2030
Listing Contacts
Listed by SAB Capital
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$332,568.00
$27,714.00/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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Tax History
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