701 W Expressway 83
McAllen, TX 78503
Red Lobster · Retail Property For Sale

This Red Lobster property is located at 701 Expressway 83 in McAllen, Texas. McAllen is the largest city in Hidalgo County, Texas. It is located at the southern tip of Texas in the Rio Grande Valley. On the Rio Grande, McAllen is across the Mexican city of Reynosa. The McAllen-Edinburg-Mission metropolitan area is ranked the sixth largest metropolitan area in Texas. Today, it is one of the fastest growing metropolitan areas in the United States. There are approximately 80,200 people within a three-mile radius of this property and more than 217,139 within a five-mile radius. This Red Lobster is located directly off of Expressway 83. Expressway 83, also known as U.S. Interstate 2 experiences traffic counts of over 123,516 vehicles daily. Additionally, right next this Red Lobster is McAllen Medical Center, the third largest employer in the city (2,000 employees), containing over 441 beds and more than 600 physicians. Less than two miles away from this Red Lobster is McAllen International Airport, which serves more than 373,000 individuals annually. The subject property is well-positioned in a dense retail corridor, benefitting from its proximity to major national and local retailers. Major national retailers in the area include: Toys “R” Us, Macy’s, Dillard’s, Cinemark Theatres, Bed Bath and Beyond, Kmart, Walgreens, Target, Academy Sports + Outdoor, Walmart, Sam’s Club, Chick-fil-A, Lowe’s, Costco, Best Buy, Red Robin, Office Depot, Wells Fargo, H-E-B, Olive Garden, and many others. Nearby, La Plaza Mall (located on the intersection of Interstate 2 and 10th Street) features over 1.2 million square feet of retail area space and more than 150 stores. The Rio Grande Valley began its rapid development with the introduction of irrigation in 1898 and the construction of the railroad in 1904. These major additions turned a once relatively desolate area into a major agricultural center. Throughout much of the 1900s, McAllen was a rural, agriculture-based economy characterized by sporadic growth. Today, the area is being transformed into a major international trade area by developing first-rate commercial, retail, office, industrial, medical, retirement and educational facilities. Since the 1980s and especially since the ratification of the North American Free Trade Agreement in 1994, the focal point of economic activity has shifted from agriculture to international trade, health care, retail and tourism.