1400 Griffin PkwyMission, TX 78572

For Sale
$866,250
High-Yield Retail Plaza in Texas

Overview

Added:
Dec 11, 2024
Days on market:
125
This exceptional 3,850 square foot shopping center, built in 2019, presents a compelling investment opportunity in Mission, Texas. Located at the high-traffic corner of Los Ebanos Rd and Griffin Parkway, this single-story, one-building plaza boasts five units with a current occupancy rate of 80%. The property features a strong tenant mix, including a successful medical clinic occupying three units, providing a stable and reliable income stream. A popular nail salon occupies an additional unit, contributing to the consistent cash flow. The remaining unit offers flexibility for a new tenant or owner-use, maximizing potential returns. The property's strategic location ensures high visibility and accessibility, complemented by ample parking. With a net operating income (NOI) of $6,102 and a 7.00% cap rate, this mixed-use (office and retail) property, zoned C, offers a compelling return on investment. The 0.35-acre lot provides ample space for the 3,850 square feet of net rentable space. This is a triple net (NNN) lease property, making it an attractive option for investors seeking a low-maintenance, high-return investment in a thriving Texas market. The property's strong tenant base, prime location, and solid financial performance make it an ideal addition to any investment portfolio. This is a rare opportunity to acquire a well-established, income-producing property in a rapidly growing area.

Highlights

  • 3,850 SF shopping center built in 2019 in Mission, TX.
  • Located on high-traffic corner of Los Ebanos Rd and Griffin Parkway.
  • Five units, 80% occupancy, strong tenant mix including medical clinic and nail salon.
  • 0.35-acre lot, 3,850 SF net rentable space, C-zoned.
  • $6,102 NOI, 7.00% cap rate, triple net (NNN) lease.

Property Details for 1400 Griffin Pkwy

Property type
Lifestyle centers, Power centers
Square Feet
3,850 SF
Year Built
2019
Buildings
1
Stories
1
Lot Size (sq. ft)
15,246 SF
Units
5

Location Insight

City
Mission
County
Hidalgo
State
Texas
Latitude
26.231864390663
Longitude
-98.339750511811
1400 Griffin Pkwy, Mission, Texas

FAQs

What type of property is this?
Lifestyle center - High-Yield Retail Plaza in Texas
Where is the lifestyle center located?
The property is located at 1400 Griffin Pkwy Mission, TX.
What is the asking price?
The asking price for this property is $866,250.
What are key features of this property?
This property features: 3,850 SF shopping center built in 2019 in Mission, TX.; Located on high-traffic corner of Los Ebanos Rd and Griffin Parkway.; Five units, 80% occupancy, strong tenant mix including medical clinic and nail salon.
How can I contact the broker?
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1400 Griffin Pkwy
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