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Ojos Locos 1411 W Expressway 83 6,339 SF Retail Building Weslaco, TX 78596 $5,095,754 ($803.87/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Strategic Highway Frontage and Population Growth
- Retail-Dominant Trade Corridor
- Corporate Guarantee
- Attractive Price Per Square Foot
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for an Ojos Locos located at 1411 W Expy 83, Weslaco, TX 78596. The site consists of roughly 6,590 rentable square feet of building space on an estimated 2.37-acre parcel of land. This Ojos Locos is subject to a 20-year Triple Net (NNN) lease, which commenced 4/6/2023. The current annual rent is $331,224 and has scheduled increases of 2.00% annually starting year 7.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,339 SF
Building Class
B
Year Built
2023
Price
$5,095,754
Price Per SF
$803.87
Cap Rate
6.50%
NOI
$331,224
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
2.39 AC
Opportunity Zone
Yes
Parking
148 Spaces (23.35 Spaces per 1,000 SF Leased)
Frontage
204’ on West Expressway 83
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | H1060-00-000-0002-00 | Improvements Assessment | $907,703 |
| Land Assessment | $1,446,297 | Total Assessment | $2,354,000 |
PROPERTY TAXES
Parcel Number
H1060-00-000-0002-00
Land Assessment
$1,446,297
Improvements Assessment
$907,703
Total Assessment
$2,354,000
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Ojos Locos | 1411 W Expressway 83
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