1201 HwyMcAllen, TX 78501

Property Details for 1201 Hwy

Year built

2023

Lot size

1.60 AC

Property size (Sq ft)

12,996 SF

Property type

Retail properties

Property subtype

Office properties

Description

This exceptional investment opportunity presents a brand-new, 12,996 square foot medical office building in McAllen, Texas. Built in 2023, the property boasts a fee-simple ownership structure and a strong 10.4-year remaining lease term (expiring 03/30/2035) with CenterWell Senior Primary Care (a Humana subsidiary), the nation's largest senior-focused primary care provider. The lease is a triple-net (NNN) structure, minimizing landlord responsibilities. The property features a corporate guarantee and built-in rent bumps of 10% in each of four, five-year lease options. Located on a busy expressway with high visibility and surrounded by major retailers, this property offers a 6.15% cap rate and a substantial net operating income (NOI) of $328,149. The asking price is $5,335,756, translating to $410.57 per square foot. Situated on a 1.6-acre lot, this single-tenant building enjoys 100% occupancy. The property's prime location in McAllen, a rapidly growing Texas city near the US-Mexico border, benefits from strong economic growth and excellent access to major transportation arteries, including Interstate 69C and Interstate 2. This is a rare opportunity to acquire a high-quality, passively managed investment with significant long-term potential.

Location Insight

City

McAllen

County

Hidalgo

State

Texas

Latitude

26.1994

Longitude

-98.2059

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