Cap Rate: 5.00%
Lease Type: NNN
Net Operating Income: $247,250
Square Footage: 2,724
Lot Size: 0.9 AC
Year Built: 2016
This is an absolute NNN leased Raising Cane’s in Brownsville, Texas. The property built in 2016, consists of 2,724 square-feet and includes a drive-thru. The lease calls for zero landlord obligations and increases in rent every 5 years. The site is just off US Highway 77 with 111,000 VPD. Raising Cane’s sits on a highly visible hard corner with a signalized intersection. The property is also situated near The University of Texas Rio Grande Valley, Brownsville (Serving 12,000+ Students).
The site is also located between a Walmart Supercenter and The Home Depot. The property benefits from the growing trade area.
Brownsville is the county seat of Cameron County, Texas. It is the sixteenth most populous city in Texas. Located at the southernmost tip of Texas on the northern bank of the Rio Grande, directly north and across the border from Matamoros, Tamaulipas, Mexico. An international bridge connects the city to Matamoros, Mexico. The Brownsville urban area is one of the fastest growing in the United States. The Port of Brownsville has become a major economic hub for South Texas. Located 2 miles from the city, the Port provides an important link between the road networks of nearby Mexico and the Gulf Intracoastal Waterway of Texas. Brownsville’s economy is mainly based on its international trade with Mexico through the North American Free Trade Agreement (NAFTA), and is home to one of the fastest growing manufacturing sectors in the nation.