Chili's
5,203 SF | Retail Building | San Juan, TX 78589 | $2,476,190 ($476/SF) | 5.25% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,476,190
- Property Type
-
Retail, Restaurant
- Square Feet
- 5,203 SF
- Price / Square Foot
- $476
Listing Contacts
Bill Pyle
Verified Profile
Brandon Beeson
Verified Profile
Greg Phelps
Verified Profile
- Property Info
Property Overview
Chili's (the “Property”) is a 5,105 sf retail property located at 1411 W Interstate 2 in San Juan, Texas. Built in 2023, the property sits on 1.47 acres on Interstate 2 seeing over 135,000 vehicles per day. The lease commenced this year and has a 10 year term with a built in rent escalation and four renewal options. This Chili’s location sees over 21,000 visitors per month and is ranked in the top 82% of Chili’s locations Nationwide. Other major retailers in the immediate area include Olive Garden, Starbucks, Acura, Audi, Walmart, H-E-B, and the Mercadome Flea Market and Alamo Dance Hall, a renown flea market in South Texas. Multiple of these locations see millions of visitors per year. Chili’s serves as a great investment for a new owner due to it's location in Rio Grande Valley, Chili's most profitable market in the nation. Chili's is a secure national tenant with 10 years still in the lease term. As well as, due to the NNN ground lease, a new owner will have no landlord responsibilities.
Property Details
- Year Built
- 2023
- Stories
- 1
- Lot Size (sq. ft)
- 64,904 SF
Highlights
- 10-Year Ground Lease with built in rental escalations every 5 years
- 4, 5-Year Renewal Options - (10% base rent increase each option period)
- Rio Grande Valley is Chili’s most profitable market in the country
- Excellent Location and Access: Positioned on HWY 83 & I-2 seeing over 122,000 VPD
- Low Cost, Low Responsibility Property - (Tenant maintains Property through lease term)
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