21820 Farm To Market 506Santa Rosa, TX 78593

Property Details for 21820 Farm To Market 506

Year built

2005

Lot size

1.47 AC

Property size (Sq ft)

9,014 SF

Property type

Retail properties

Property subtype

Drug stores

Description

This exceptional retail investment opportunity presents a 9,014 square foot convenience store, grocery store, and pharmacy located at 21820 Farm to Market 506, Santa Rosa, Texas 78593. The property sits on a 1.47-acre lot and is 100% occupied by a portfolio of credit-rated national tenants: Dollar General, Dollar Tree, and Family Dollar. The current lease, a triple-net (NNN) agreement, commenced March 1, 2005, and expires February 28, 2031, with three remaining 5-year options, each including rent bumps (4.5% in Option 1, 10% in Options 2 & 3). The property boasts a strong net operating income (NOI) of $71,388, yielding a 7.50% cap rate on an asking price of $951,907. Built in 2005, this single-building property benefits from a strong demographic profile, including a 5-mile population exceeding 17,159 and a 10-mile population exceeding 146,200, with an average household income of $77,423. The tenant's long-term commitment is evident in their continuous operation since 2005, demonstrating the site's viability and market strength. Texas's income-tax-free status further enhances the investment's attractiveness. This is a rare opportunity to acquire a stable, high-performing retail asset with significant upside potential.

Location Insight

City

Santa Rosa

County

Cameron

State

Texas

Latitude

26.2421

Longitude

-97.8252

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].