1020 23Rd StMcAllen, TX 78501

This exceptional investment opportunity presents a 2,261-square-foot 7-Eleven (Stripes) gas station located at 1020 S 23rd St, McAllen, TX 78501, in Hidalgo County. The property, built in 1977 and situated on a 0.19-acre lot, benefits from a strong location with high visibility. The current lease, an absolute NNN with a corporate guarantee from 7-Eleven, Inc., commenced December 1, 2021, and extends to June 30, 2036, offering a substantial remaining lease term of 11.8 years. The lease includes four, five-year renewal options and features a 10% rent increase every five years, ensuring consistent income growth. The property generates a substantial net operating income (NOI) of $91,000 annually, resulting in a compelling 5.70% cap rate. The asking price is $1,596,000, translating to $705.88 per square foot. This single-tenant, 100% occupied property offers a secure and lucrative investment opportunity in a thriving McAllen market. The property's strategic location on South 23rd Street (19,215 vehicles per day) and its proximity to Interstate Highway 2 (145,438 vehicles per day) contribute to its high traffic volume and strong potential for continued success. Furthermore, the area boasts a significant population base, with over 216,485 residents within a five-mile radius, and is experiencing substantial growth with new retail developments in the McAllen Convention Center District.