1715 Expressway 83
Penitas, TX 78576
Penitas Plaza · Retail Property For Sale

Marcus & Millichap is pleased to offer the opportunity to acquire a Walmart shadow-anchored multi-tenant retail center in Peñitas, Texas. The 30,000-square foot building is currently 90 percent occupied with 33 percent of the gross leasable area having triple-net leases, providing significant upside potential. Anchored by Melrose department store, other tenants include First Cash and Pawn, Cricket Wireless, Subway, La Joya Dental, Rocking Horse Rehab, Domino’s Pizza, and Jones & Crane attorneys. The building was constructed in 2004 and sits on 3.82 acres. The subject property is located on the north side of Expressway 83, the major east-west thoroughfare in the city. Traffic counts are approximately 31,000 vehicles per day in front of the property. Walmart Supercenter is directly north of the property, and other neighboring retailers include Dollar Tree, Sally Beauty Supply, Wingstop, Boost Mobile, BBVA Bank, Dollar General, United States Postal Service, and more. John F Kennedy Elementary School is located across from Walmart and has an enrollment of around 900 elementary students. Peñitas is a city in Hidalgo County near the United States border with Mexico. The city is 14 miles from McAllen and 26 miles from Rio Grande City. It is part of the McAllen–Edinburg–Mission and Reynosa–McAllen metropolitan areas. The city is served by the La Joya Independent School District, and the South Texas Independent School District operates magnet schools that also serve the community.