Shopping Strip

Shops at Valle Vista

Listing Price: $6,200,000

Cap Rate
7.52%
Gross SF
14,113
Rentable SF
14,113
Price/Gross SF
$439.31
Lot Size
1.21 acres
Year Built
1985

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a fully stabilized 14,113-square foot, multi-tenant retail center located in a dense retail trade area at the intersection of two major highways in Harlingen, Texas. The Shops at Valley Vista is currently 100 percent occupied, and all leases are triple-net. The center is a complementary mix of internet-resistant tenants, consisting of Freddy's Frozen Custard & Steakburgers, Sprint, Mariner Finance, All-Star Nutrition, Visionworks, and Community Loans of America. The center was originally constructed in 1985, renovated in 2017, and is situated on a 1.2-acre parcel. The subject property sits on the east side of Dixieland Road at the intersection of Interstate 2 and Interstate 69 East. Shops at Valle Vista is located is a dense retail trade corridor and is easily accessible with multiple ingress and egress points. The center is shadow-anchored by Target and is directly across from Valle Vista Mall, a regional mall anchored by Dillard's, JC Penney, Gold's Gym and Big Lots, with more than 80 stores and restaurants. A new TJ Maxx store is currently under construction adjacent to Target, with a scheduled opening date in October 2020. Other national retailers include Ulta Beauty, Hibbett Sports, Five Below, Burlington, Ross Dress for Less, Bealls, Dollar Tree, Walmart, H-E-B Grocery, Goodwill, Office Depot, Bass Pro Shops, and more. The property is well-situated in a dense residential area, with a population exceeding 93,000 residents within a five-mile radius.

Investment Highlights

  • 14,113-Square Foot, Multi-Tenant Retail Center
  • Shadow-Anchored by Target | New TJ Maxx Currently Under Construction Adjacent to Target, Scheduled to Open Fall 2020
  • 100% Leased | 100% of the Leases are Triple-Net
  • 80% of the Gross Leasable Area has Credit Tenants

Exclusively Listed By

Listing Price: $6,200,000

Cap Rate
7.52%
Gross SF
14,113
Rentable SF
14,113
Price/Gross SF
$439.31
Lot Size
1.21 acres
Year Built
1985

Investment Highlights

  • 14,113-Square Foot, Multi-Tenant Retail Center
  • Shadow-Anchored by Target | New TJ Maxx Currently Under Construction Adjacent to Target, Scheduled to Open Fall 2020
  • 100% Leased | 100% of the Leases are Triple-Net
  • 80% of the Gross Leasable Area has Credit Tenants

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a fully stabilized 14,113-square foot, multi-tenant retail center located in a dense retail trade area at the intersection of two major highways in Harlingen, Texas. The Shops at Valley Vista is currently 100 percent occupied, and all leases are triple-net. The center is a complementary mix of internet-resistant tenants, consisting of Freddy's Frozen Custard & Steakburgers, Sprint, Mariner Finance, All-Star Nutrition, Visionworks, and Community Loans of America. The center was originally constructed in 1985, renovated in 2017, and is situated on a 1.2-acre parcel. The subject property sits on the east side of Dixieland Road at the intersection of Interstate 2 and Interstate 69 East. Shops at Valle Vista is located is a dense retail trade corridor and is easily accessible with multiple ingress and egress points. The center is shadow-anchored by Target and is directly across from Valle Vista Mall, a regional mall anchored by Dillard's, JC Penney, Gold's Gym and Big Lots, with more than 80 stores and restaurants. A new TJ Maxx store is currently under construction adjacent to Target, with a scheduled opening date in October 2020. Other national retailers include Ulta Beauty, Hibbett Sports, Five Below, Burlington, Ross Dress for Less, Bealls, Dollar Tree, Walmart, H-E-B Grocery, Goodwill, Office Depot, Bass Pro Shops, and more. The property is well-situated in a dense residential area, with a population exceeding 93,000 residents within a five-mile radius.

Exclusively Listed By

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