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Shopping Strip

Northtown Plaza

310 W Expy 83, Weslaco, TX 78599

Listing Price: $2,200,000

Cap Rate
7.00%
Gross SF
16,080
Rentable SF
16,080
Price/Gross SF
$136.82
Lot Size
1.57 acres
Year Built
2004

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale Northtown Plaza, which is a newly renovated shopping center located at 310 West Expressway, Weslaco, Texas. Northtown Plaza is 100 percent occupied and offers an investor a current stabilized CAP rate of seven percent. Current rents at the Property average only $16.88 per square foot (on gross leases), which is below market. Market rents average over twenty dollars per square foot. The subject property’s affordable rental rates result in tenants who can sustain their businesses at the subject property. The low rental rates also allow for a buyer to raise rents and/or convert gross leases to triple net to add value. Northtown Plaza is positioned directly off Expressway 83, Weslaco’s primary retail thoroughfare that connects all major cities in the Rio Grande Valley. The plaza’s proximity to prime retailers such as Walmart Supercenter, H-E-B, Home Depot, and Office Depot helps deliver a high daily vehicle count of 70,000 cars. The plaza is also surrounded by a densely populated neighborhood with 108,670 residents in a five-mile radius, with an average household income of $53,063 per year.

Investment Highlights

  • Below Market Rents Averaging $16.88 per Square Foot on Gross Leases
  • Realistic Pro Forma Cap Rate of 8.50%
  • Traffic Count of 70,000 Cars Per Day
  • Central Location Off Weslaco's Major Retail Corridor
  • 100% Occupancy
  • Major Retail Corridor

Exclusively Listed By

Financing By

Shopping Strip

Northtown Plaza

Listing Price: $2,200,000

Cap Rate
7.00%
Gross SF
16,080
Rentable SF
16,080
Price/Gross SF
$136.82
Lot Size
1.57 acres
Year Built
2004

Investment Highlights

  • Below Market Rents Averaging $16.88 per Square Foot on Gross Leases
  • Realistic Pro Forma Cap Rate of 8.50%
  • Traffic Count of 70,000 Cars Per Day
  • Central Location Off Weslaco's Major Retail Corridor
  • 100% Occupancy
  • Major Retail Corridor

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale Northtown Plaza, which is a newly renovated shopping center located at 310 West Expressway, Weslaco, Texas. Northtown Plaza is 100 percent occupied and offers an investor a current stabilized CAP rate of seven percent. Current rents at the Property average only $16.88 per square foot (on gross leases), which is below market. Market rents average over twenty dollars per square foot. The subject property’s affordable rental rates result in tenants who can sustain their businesses at the subject property. The low rental rates also allow for a buyer to raise rents and/or convert gross leases to triple net to add value. Northtown Plaza is positioned directly off Expressway 83, Weslaco’s primary retail thoroughfare that connects all major cities in the Rio Grande Valley. The plaza’s proximity to prime retailers such as Walmart Supercenter, H-E-B, Home Depot, and Office Depot helps deliver a high daily vehicle count of 70,000 cars. The plaza is also surrounded by a densely populated neighborhood with 108,670 residents in a five-mile radius, with an average household income of $53,063 per year.

Exclusively Listed By

Financing By

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