For Sale
$2,846,400

3831 ExpresswayBrownsville, TX 78520

High-traffic, 2-tenant retail center in Texas.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a fully stabilized, 5,500-square-foot retail center in Brownsville, Texas. Built in 2021, the property boasts 100% occupancy with two national credit tenants, Verizon Wireless and Sleep Number, both operating under triple-net (NNN) leases featuring scheduled rent increases and renewal options. The center is strategically located along North Expressway 83, a high-traffic corridor exceeding 115,030 vehicles daily. Its prime location is further enhanced by its proximity to Sunrise Mall, a major shopping destination with over 100 stores, and numerous other national and regional retailers. The 1.66-acre lot is part of a larger commercial development, offering excellent visibility and accessibility. The strong tenant lineup, coupled with the high traffic counts and dense population (over 157,321 residents within five miles and 50,000 daytime employees), ensures a stable and attractive return on investment. The asking price is $2,846,400, representing a 7.00% cap rate and a NOI of $199,248. The property's strong fundamentals and location make it an ideal addition to any investment portfolio. Note that limited inspection material is available. The seller acquired the property via Deed in Lieu.

Highlights

  • 5,500-square-foot, two-tenant retail center; new construction (2021).
  • Fully stabilized, 100% occupied; triple-net (NNN) leases.
  • Verizon Wireless and Sleep Number (NYSE: VZ, NASDAQ: SNBR) as tenants.
  • Part of a larger commercial development; adjacent to Olive Garden, Black Bear Diner, and Longhorn Steakhouse.
  • Prime location on North Expressway 83; over 115,030 vehicles daily.
  • Across from Sunrise Mall (Dillard's, JCPenney, Dick's Sporting Goods, Cinemark).

Property Details for 3831 Expressway

Property type
Lifestyle centers, Power centers
Square Feet
5,500 SF
Year Built
2021
Lot Size (sq. ft)
72,310 SF
Units
2

Location Insight

City
Brownsville
County
Cameron
State
Texas
Latitude
25.957882532784
Longitude
-97.508039097043
3831 Expressway, Brownsville, Texas

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3831 Expressway
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