Cap Rate: 7.50%
Net Operating Income: $127,404
The subject property is a 9,800 square foot Melrose Family Fashions store located on a major commercial thoroughfare in Rio Grande, TX. This site is strategically located within the area’s main retail corridor. The asset is surrounded by major retailers, including: Walmart Supercenter, KFC, AMC Theaters and Dollar Tree.
The absolute NNN lease calls for zero landlord obligations, with increases of $1/SF every five years.
Rio Grande City is a city in and the county seat of Starr County, Texas. The population was 13,834 at the 2010 census. The city is 41 miles west of McAllen. The city also holds the March record high for the United States at 108 degrees Fahrenheit. The city is connected to Camargo, Tamaulipas, via the Rio Grande City–Camargo International Bridge.