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Shopping Strip

Las Palmas Plaza

3777 N Expressway 83, Brownsville, TX 78526

Listing Price: $4,155,000

Cap Rate
6.53%
Gross SF
10,585
Rentable SF
10,585
Price/Gross SF
$392.54
Lot Size
1.65 acres
Year Built
2017

Investment Overview

Las Palmas Plaza is a 100 percent occupied, 10,585-square-foot, multi-tenant retail center located in Brownsville, Texas. Approximately 71 percent of the gross leasable area has medical tenants, and all leases are triple-net. Tenants consist of Northland Hearing Centers, Airostti Rehab Centers, Baaxten Imaging, and Raymond James & Associates. The building is newer (2017) construction with attractive architecture and is situated on a 1.648-acre parcel with concrete parking. The subject property is located on the west side of North Expressway 83, benefitting from extremely high traffic counts exceeding 114,030 vehicles per day. Sunrise Mall is catty corner from the property, anchored by Dillard’s, JCPenney, Dick’s Sporting Goods, and Cinemark Theater. Numerous national and regional retailers are in the surrounding area, including Target, TJ Maxx, Burlington, Office Depot, Michaels, PetSmart, Ulta Beauty, Spec's, Chuck E. Cheese’s, Rudy’s, Chili’s, Johnny Carino’s, Ross Dress for Less, Best Buy, Gold’s Gym, Hobby Lobby, Marshall’s, Kohl's, Ashley Furniture, Bed Bath & Beyond, Old Navy, Staples, IHOP, and many others. The surrounding area is densely populated with over 155,300 residents within five miles. Additionally, the trade area is supported by approximately 47,000 daytime employees within a five-mile radius.

Investment Highlights

  • 10,585-Square-Foot, Multi-Tenant Retail Center
  • 100% Occupied | All Leases are Triple-Net
  • 71% of the Gross Leasable Area has Medical Tenants
  • Building is 2017 Construction with an Attractive Facade
  • Prime Location in a Major Retail Trade Area Along North Expressway 83 | Major North-South Thoroughfare | Extremely High Traffic Counts Exceeding 114,030 Vehicles per Day

Exclusively Listed By

Listing Price: $4,155,000

Cap Rate
6.53%
Gross SF
10,585
Rentable SF
10,585
Price/Gross SF
$392.54
Lot Size
1.65 acres
Year Built
2017

Investment Highlights

  • 10,585-Square-Foot, Multi-Tenant Retail Center
  • 100% Occupied | All Leases are Triple-Net
  • 71% of the Gross Leasable Area has Medical Tenants
  • Building is 2017 Construction with an Attractive Facade
  • Prime Location in a Major Retail Trade Area Along North Expressway 83 | Major North-South Thoroughfare | Extremely High Traffic Counts Exceeding 114,030 Vehicles per Day

Investment Overview

Las Palmas Plaza is a 100 percent occupied, 10,585-square-foot, multi-tenant retail center located in Brownsville, Texas. Approximately 71 percent of the gross leasable area has medical tenants, and all leases are triple-net. Tenants consist of Northland Hearing Centers, Airostti Rehab Centers, Baaxten Imaging, and Raymond James & Associates. The building is newer (2017) construction with attractive architecture and is situated on a 1.648-acre parcel with concrete parking. The subject property is located on the west side of North Expressway 83, benefitting from extremely high traffic counts exceeding 114,030 vehicles per day. Sunrise Mall is catty corner from the property, anchored by Dillard’s, JCPenney, Dick’s Sporting Goods, and Cinemark Theater. Numerous national and regional retailers are in the surrounding area, including Target, TJ Maxx, Burlington, Office Depot, Michaels, PetSmart, Ulta Beauty, Spec's, Chuck E. Cheese’s, Rudy’s, Chili’s, Johnny Carino’s, Ross Dress for Less, Best Buy, Gold’s Gym, Hobby Lobby, Marshall’s, Kohl's, Ashley Furniture, Bed Bath & Beyond, Old Navy, Staples, IHOP, and many others. The surrounding area is densely populated with over 155,300 residents within five miles. Additionally, the trade area is supported by approximately 47,000 daytime employees within a five-mile radius.

Exclusively Listed By

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