OFFERING SUMMARY
Price: $1,323,000
Cap Rate: 8.00%
Gross Leasable Area: 5,000 SF
NOI: $105,850
OFFERING HIGHLIGHTS
- Best in Class Tenant
- Potential Value-Add
- Strong Traffic counts
- Destination Retail Corridor
- income Tax-free State
- Strong Population
INVESTMENT OVERVIEW
The subject offering provides qualified investors with the opportunity to acquire a FedEx Office retail location in McAllen, Texas. The location is currently fully leased by FedEx Office Corporate who has just over a year remaining on their current lease. FedEx has one, five-year option remaining and has expressed a desire to remain at the location allowing a creative investor to potentially work to maximize the value of the location in concert with the existing tenant. The current lease is double net in nature with the landlord responsible for maintenance of the roof, structure, and parking lot while the tenant covers the taxes and insurance.
McAllen is one of the strongest submarkets along the Texas/Mexico border with strong population growth and improving household income. With over 110,000 people in a three-mile radius and over 30,000 vehicles per day, this location has a built-in customer base and strong visibility along one of the city’s most recognizable retail corridors. McAllen is the 13th fastest-growing metro area in the United States with the population expected to grow by over 75 percent in the next few decades.
