1815 Expressway 83Penitas, TX 78576

For Sale
$2,627,000

High-Yield Sonic, Fee Simple Ownership

Overview

Added:
Dec 11, 2024
Days on market:
93
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.

Highlights

  • $2,627,000 asking price for a fee-simple interest (land & building) in a new Sonic Drive-In.
  • Absolute NNN lease with corporate guarantee from Crush TX, LLC.
  • Brand new 20-year lease with two 5-year options; 7.5% rent increases every 5 years.
  • 1,227 square feet; 100% occupancy; $144,475 NOI; 5.50% cap rate.
  • Located in Penitas, TX (Hidalgo County), on a 1.05-acre lot with 49 parking spaces, outparcel to a Walmart Supercenter.

Property Details for 1815 Expressway 83

Property type
Other retail properties, Restaurants
Square Feet
1,227 SF
Year Built
2024
Lot Size (sq. ft)
45,738 SF

Location Insight

City
Penitas
County
Hidalgo
State
Texas
Latitude
26.2437876
Longitude
-98.4413841
1815 Expressway 83, Penitas, Texas

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1815 Expressway 83
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