1996 / 2014
YEAR BUILT / RENOVATED
307 W Expressway 83 | Mission, Texas
Marcus & Millichap is pleased to present a single tenant NNN Corporate T-Mobile store in Mission (Hidalgo County), Texas. The property consists of 2,436 square feet sitting on a .58 acre parcel out pad.
The property is well-located on Expressway 83 and the I-2 Freeway on-ramp where daily traffic exceeds 108,000 cars. It is positioned between Pizza Hut and McDonald’s restaurant whose sales is the strongest in the entire Rio Grande Valley. T-Mobile is an out pad to a shopping center anchored by Bealls Department Store and Foy’s Supermarket. The immediate trade area has a population of 149,497 people within a five-mile radius and an average household income of $67,000.
Mission Texas is a city in Hidalgo County, adjacent to McAllen, the largest city in Texas. Hidalgo County is part of the Rio Grande Valley, located in the southernmost tip of Texas and is one of the fastest growing regions in the United States.
T-Mobile has been at this location since 2014 and their lease includes 10% rent increases every 5years including options. The tenant has remodeled the property since taking possession in 2014, demonstrating their commitment to the location. The property is being offered at 7.00% cap rate on a triple net lease, offering the investor a high stream of income with minimal landlord responsibility in one of the most populous metropolitan areas of Texas.
T-Mobile Corporate Net Lease
10% Rent Increases every 5 Years
Explosive Population Growth
On-Ramp Location 108,000 Cars
Ease of Management Property
149,497 Population 5 miles $67,000 Average Household Income
Newer Roof with Warranty