4501 W Expressway 83 | Mission, TX 78501
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4501 W Expressway 83
Mission, TX 78501
Modern City Shops - McAllen, TX · Retail Property For Sale
Investment Highlights
- 57% of Gross Leasable Area Are NNN Leases; Upside By Enforcing NNN Language Per the Leases
- Regional and Franchisee Tenancy With the Tenant Base Type Being 77% Medical and 23% Fast Casual Dining
- Highway 83 (Interstate 2) Sees Traffic Counts Exceeding 129,281 Vehicles Per Day
- Pro Forma CAP Rate (Yr.1) is 8.66%
- Base Rents Are Below Market Due to the Significant Improvements the Tenants Put Into the Interior of Their Spaces and Equipment
- The Shopping Center is Situated Parallel to Hwy 83 Giving Tenants More Visibility to Drive By Traffic; Coupled With Consumers Exiting Walmart
PROPERTY FACTS
Property Type
Retail
Property Subtype
Freestanding
Building Size
12,900 SF
Building Class
B
Year Built
2016
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.24
Lot Size
1.23 AC
Parking
82 Spaces (6.31 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | B2619-00-000-0003-00 | Improvements Assessment | $1,480,494 |
| Land Assessment | $1,528,031 | Total Assessment | $3,008,525 |
PROPERTY TAXES
Parcel Number
B2619-00-000-0003-00
Land Assessment
$1,528,031
Improvements Assessment
$1,480,494
Total Assessment
$3,008,525
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