1815 Expressway 83Penitas, TX 78576

Property Details for 1815 Expressway 83

Year built

2024

Lot size

1.05 AC

Property size (Sq ft)

1,227 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple interest in a brand-new, 1,227 square-foot Sonic Drive-In located in Penitas, Texas. Built in 2024, this property boasts a 20-year absolute NNN lease with a corporate guarantee from Crush TX, LLC, featuring 7.5% rent bumps every five years. Situated on a 1.05-acre lot with 49 parking spaces, the property enjoys a prime location on Expressway 83, a major thoroughfare with 55,900 daily vehicles. The outparcel location to a Walmart Supercenter, proximity to a 128-unit apartment complex, and presence in a thriving fast-food corridor with national brands ensures high visibility and strong consumer traffic. The property's strong demographics, including a 5-mile trade area population exceeding 45,000 and an average household income of $57,905, further solidify its investment potential. The current NOI is $144,475, representing a 5.50% cap rate on the $2,627,000 asking price. This is a management-free investment with significant long-term growth potential. The property is zoned C-1 Commercial and has a Hidalgo County APN of M4165-02-000-0005-00. The lease includes two five-year renewal options. 100% occupancy ensures immediate cash flow.

Location Insight

City

Penitas

County

Hidalgo

State

Texas

Latitude

26.2438

Longitude

-98.4414

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