2400 Mccoll RdMcAllen, TX 78503

For Sale
$5,623,588

High-Yield 7-Eleven, Gas Station, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional Class A retail investment presents a compelling opportunity. Located at 2400 S McColl Rd, McAllen, TX 78503, this 4,656 square foot, newly constructed (2023) convenience store and gas station boasts a strong 5.10% cap rate and a substantial NOI of $286,803. The property sits on a 1.79-acre lot in a high-traffic area with over 32,000 vehicles daily. Benefitting from a long-term absolute NNN lease with a corporate guarantee (7-Eleven, Wawa, Circle K, Sheetz) extending until August 31, 2038 (13.8 years remaining), the lease includes 7.5% rent bumps every five years. The property's strategic location near I-2, a major hospital, the McAllen International Airport, and La Plaza Mall, ensures consistent high traffic and strong tenant performance. Significant tax advantages are available through accelerated depreciation and cost segregation, further enhancing the investment's appeal. The affluent area boasts an average household income exceeding $90,000 within a one-mile radius and a population exceeding 216,000 within five miles, projected to grow by 8-10% by 2029. This property offers a rare combination of strong tenant, prime location, and significant financial benefits, making it an ideal addition to any portfolio. The tenant is ranked among the Fortune Global 500 and holds an "A" S&P investment grade credit rating.

Highlights

  • $5,623,588 asking price for a Class A, 4,656 SF retail property.
  • Absolute NNN net lease with corporate guarantee, 13.8 years remaining, and 7.5% rent bumps every 5 years.
  • 5.10% cap rate with a $286,803 NOI.
  • Brand new (2023) construction, located on a 1.79-acre lot, featuring a 7-Eleven, gas station, and Laredo Taco.
  • High-traffic location with excellent visibility on a major retail corridor, exceeding 32,000 vehicles daily, near I-2.
  • Significant tax benefits due to accelerated depreciation and cost segregation, including a fuel sales reporting clause for bonus depreciation.

Property Details for 2400 Mccoll Rd

Property type
Other retail properties, Individual retail properties
Square Feet
4,656 SF
Class
A
Year Built
2023
Lot Size (sq. ft)
77,972 SF

Location Insight

City
McAllen
County
Hidalgo
State
Texas
Latitude
26.1783803
Longitude
-98.217509
2400 Mccoll Rd, McAllen, Texas

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2400 Mccoll Rd
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