300 Teel Dr Devine, TX 78016

This 12,469 square foot shopping center in Devine, TX (78016), located at 300 North Teel Drive, presents a compelling value-add opportunity. Currently boasting six tenants including Liberty Tax, PRG Realty, a pet grooming business, Huff & Puff, a nail salon, and Daisy's Creations, the center has twelve units total, with five vacant units representing 65% of the gross leasable area (GLA). The asking price is $750,000, translating to a low price per square foot of $60.15. Built in 1987, the property sits on a 0.84-acre lot and features a gross lease structure with month-to-month lease options. The current occupancy rate is 32.8%. Its strategic location offers convenient access to I-35, a major Texas highway, and is approximately 30 minutes from San Antonio. The roof was replaced in 2018. The limited retail and office alternatives in Devine make this a unique opportunity to capitalize on a growing market. This property offers significant upside potential for investors seeking a value-add project with strong potential for increased occupancy and rental income. The property's proximity to a major highway and its location in a market with limited competition make it an attractive investment.