2304 77 Sunshine StripHarlingen, TX 78550
- Retail properties
- 660 SF
Property Details for 2304 77 Sunshine Strip
- Year built
- 2024
- Lot size
- 0.89 AC
- Property size (Sq ft)
- 660 SF
- Property type
- Retail properties
- Property subtype
- Other retail properties
Description
This exceptional investment opportunity presents a brand-new, 1-unit, 660-square-foot Scooter's Coffee located at 2304 S 77 Sunshine Strip, Harlingen, TX 78550, within the Brownsville-McAllen MSA. The property sits on a 0.89-acre lot and boasts a 20-year absolute triple-net (NNN) lease with a franchisee tenant, ensuring minimal landlord responsibilities. Built and renovated in 2024, this single-story building enjoys 100% occupancy and a current NOI of $156,000, representing a 6.50% cap rate on the $2,400,000 asking price ($3,636.36/sq ft). The lease includes a 7.5% rent increase every five years and four (4) five (5) year options. This top-performing Scooter's Coffee location benefits from high traffic counts (approximately 33,000+ vehicles per day at a nearby intersection) and a strategic location near other national retailers in a rapidly growing market. The Harlingen and McAllen metro area exhibits an average annual growth rate exceeding 2%. This investment offers strong lease fundamentals, promising profitability, and a hedge against inflation due to the NNN lease structure. The franchisee's commitment to open twelve units in the Texas market further strengthens this opportunity.
Location Insight
- City
- Harlingen
- County
- Cameron
- State
- Texas
- Latitude
- 26.1709
- Longitude
- -97.672
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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