Stripes (7 Eleven) 3620 Buddy Owens Ave

The subject property is a former Stripes Convenience Store & Gas Station located in McAllen, Texas. In March 2023, Ownership was notified that the tenant would vacate the property. The tenant has removed the underground tanks, MPDs,canopy and interior equipment but continues to remain liable for rent and all expenses through December 2025. The Property consists of a freestanding ± 2,616 sf retail building on ± 0.44 acres of land at the northeast corner of Buddy Owens Blvd. and North Ware Road. 7-Eleven was obligated to evidence to ownership that the site is free of any environmental contamination. Ownership will provide qualified investors a No Further Action letter from the State. Sharing this busy intersection are Circle K, Burger King, Family Dollar, AutoZone and Lone Star National Bank. A new Wing Daddy restaurant was developed across Ware Rd. and will open in early 2024. Reports are Valvoline has acquired the vacant lot next door to Wing Daddy. Nearby traffic generators include Target, Walmart, Chick-fil-A, McDonalds, Wendy’s, Chase, Dollar Tree, Goodwill, CareNow, Boys & Girls Club, McAllen Sports Park and several medical uses and schools. The remaining income stream is guaranteed by Stripes who is wholly owned by 7-Eleven, Inc. Rent increases in December by CPI, not to exceed 1.5%. McAllen is a major city in the Rio Grande Valley - a huge population and commerce center bordering Mexico. Over the last several decades, the emergence of maquiladoras (dual fabrication plants) has caused a surge of industrial development along the border, while international bridges have allowed Mexican businesses and residents to shop, sell and do business in the border cities along the Rio Grande. This corner parcel at a high traffic intersection provides a secure, short-term income stream with the potential to increase value through redevelopment.