1521 S Ed Carey Dr
Harlingen, TX
Price:
$2,607,066
Cap Rate:
6.00%
NOI:
$156,424
Building Size:
Approx. 3,078 Sq. Ft.
Lot Size:
Approx. 0.61 Acres
Type:
Single-Tenant / Retail
Sub Category:
Casual Dining
Year Built:
2003
Investment Overview
- 2003 Construction. 3,078+/- SF Building on 0.61+/- Acre Site
- 8 Years Of Lease Term Remaining, with (2) 5-Year Options to Renew & 10% Rental Increases in the Option Periods
- Long-Term Commitment | Starbucks Has Been On Site Since 2005 & Renewed Early Multiple Times to Extend Lease Term to 10 Yrs.
- Heavily Trafficked Location | Located on S Ed Carey Dr (34,024+ VPD), right off of S 77 Sunshine Strip (26,458+ VPD)
- Strong & Growing Customer Base | 100k+ Residents w/in 5 Mi. of Site | Pop. Expected to Grow by 2%+ Over Next 5 Yrs.
- Starbucks Operates 40,000+ Stores in 86 Countries and Reported $36.69 Billion in 2024 Revenue
- Harlingen, TX (Rio Grande Valley) | Ranked as #1 Least Expensive Urban Area in U.S. | Population: 72,515+