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Shopping Strip

Santa Lucia Plaza

701 E Nolana Loop, Pharr, TX 78577

Listing Price: $4,715,000

Cap Rate
6.35%
Gross SF
15,152
Rentable SF
15,152
Price/Gross SF
$311.18
Lot Size
1.46 acres
Year Built
2019

Investment Overview

Santa Lucia Plaza is a 15,152-square-foot, 100 percent occupied multi-tenant retail center that is well positioned to serve a densely populated area of Pharr, Texas. Tenants are a complementary mix of internet-resistant, service-oriented businesses including Paris Bakery, Taqueria Tepeque, Fred Loya Insurance Agency, Tortillas Aries, La Chula Michoacana, New Horizons Family Clinic, Just-a-Cut, Hello Nail Spa, and El Torito Carniceria. All leases are triple-net and include options for renewal with rent escalations. Fred Loya Insurance and El Torito Carniceria have corporate guarantees, and the remaining leases have personal guarantees. The building is new (2019) construction and is situated on a 1.46-acre parcel with a concrete parking lot. A highly visible pylon sign provides additional exposure to the center. The subject property is located on East Nolana Loop just east of Interstate Highway 69C. Traffic counts in front of the property are approximately 21,160 vehicles per day, and Interstate Highway 69C has traffic counts exceeding 114,700 vehicles per day. Neighboring national and regional retailers include Dollar Tree, Family Dollar, AutoZone, Taco Bell, Rudy’s Country Store and Bar-B-Q, McDonald’s, Church’s Chicken, Subway, and Stripes Convenience Store. Several hotel chains, such as La Quinta Inn & Suites, Motel 6, Hampton Inn & Suites, OGI Hotels, Red Roof Inn, and Holiday Inn Express, provide additional traffic to the area. Santa Lucia Plaza is located in a densely populated area, with a five-mile population exceeding 258,920 residents.

Investment Highlights

  • 15,152-Square-Foot, Multi-Tenant Retail Center | 100% Occupied | All Leases are Triple-Net
  • All of the Leases Include Options for Renewal with Rental Increases
  • 84% of the Gross Leasable Area has Personally-Guaranteed Leases
  • Located on East Nolana Loop Approximately One-Half Mile East of Interstate Highway 69C, the Major North-South Thoroughfare | Traffic Counts in Front of the Property are Approximately 21,160 Vehicles per Day

Exclusively Listed By

Shopping Strip

Santa Lucia Plaza

Listing Price: $4,715,000

Cap Rate
6.35%
Gross SF
15,152
Rentable SF
15,152
Price/Gross SF
$311.18
Lot Size
1.46 acres
Year Built
2019

Investment Highlights

  • 15,152-Square-Foot, Multi-Tenant Retail Center | 100% Occupied | All Leases are Triple-Net
  • All of the Leases Include Options for Renewal with Rental Increases
  • 84% of the Gross Leasable Area has Personally-Guaranteed Leases
  • Located on East Nolana Loop Approximately One-Half Mile East of Interstate Highway 69C, the Major North-South Thoroughfare | Traffic Counts in Front of the Property are Approximately 21,160 Vehicles per Day

Investment Overview

Santa Lucia Plaza is a 15,152-square-foot, 100 percent occupied multi-tenant retail center that is well positioned to serve a densely populated area of Pharr, Texas. Tenants are a complementary mix of internet-resistant, service-oriented businesses including Paris Bakery, Taqueria Tepeque, Fred Loya Insurance Agency, Tortillas Aries, La Chula Michoacana, New Horizons Family Clinic, Just-a-Cut, Hello Nail Spa, and El Torito Carniceria. All leases are triple-net and include options for renewal with rent escalations. Fred Loya Insurance and El Torito Carniceria have corporate guarantees, and the remaining leases have personal guarantees. The building is new (2019) construction and is situated on a 1.46-acre parcel with a concrete parking lot. A highly visible pylon sign provides additional exposure to the center. The subject property is located on East Nolana Loop just east of Interstate Highway 69C. Traffic counts in front of the property are approximately 21,160 vehicles per day, and Interstate Highway 69C has traffic counts exceeding 114,700 vehicles per day. Neighboring national and regional retailers include Dollar Tree, Family Dollar, AutoZone, Taco Bell, Rudy’s Country Store and Bar-B-Q, McDonald’s, Church’s Chicken, Subway, and Stripes Convenience Store. Several hotel chains, such as La Quinta Inn & Suites, Motel 6, Hampton Inn & Suites, OGI Hotels, Red Roof Inn, and Holiday Inn Express, provide additional traffic to the area. Santa Lucia Plaza is located in a densely populated area, with a five-mile population exceeding 258,920 residents.

Exclusively Listed By

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