1201 Expressway 83 - Medical FOR SALE


McAllen, TX 78501- Downtown McAllen
$5,469,000 USD
949-724-5552
1201 Expressway 83, McAllen, TX for Sale
$5,469,000 USD
Medical - FOR SALE
1/7
null | 6% Cap Rate

1201 Expressway 83
McAllen, TX 78501
Downtown McAllen


HIGHLIGHTS

  • CenterWell Senior Primary Care - Wholly-Owned Subsidiary of Humana Inc (NYSE: HUM)- Ranked #42 on the Fortune 500 List
  • Investment-Grade Credit Tenant - Nation’s Largest Senior-Focused Primary Care Organization - CenterWell Operates over 140 Centers in 15 States
  • 10 Lease Years Remaining - New Construction - 12,996-SF Building on 1.63-Acre Parcel
  • Outparcel to The Home Depot & Jackson Palmer Crossing
  • Positioned on E Expressway 83 (Over 29,200 VPD) - Adjacent to Interstate 2 (Over 121,400 VPD)
  • Demographics – Population Exceeding 238,000 within 5-Mile Radius

OVERVIEW

The Snyder Carlton National Net Lease Team is pleased to offer investors an opportunity to acquire a single-tenant net-leased CenterWell Senior Primary Care Center in McAllen, TX. CenterWell is a subsidiary of The Primary Care Organization of Humana, Inc. (NYSE: HUM), which operates over 300 care centers across 15 states and serves approximately 390,000 seniors. The net lease has over 10 lease years remaining in the primary term with four 5-year option periods, 10% rental increases every 5 years during option periods, and limited landlord responsibilities, providing inflation-resistant cash flows for years to come. The new-construction 12,996-SF building on a large 1.63-acre parcel is positioned as an outparcel to The Home Depot and Jackson Palmer Crossing Shopping Center, is located along E Expressway 83, which sees over 29,200 VPD, and is adjacent to Interstate 2 (Over 121,400 VPD). Nearby retailers include Walmart Supercenter, Sam’s Club, Target, Costco, Lowe’s Home Improvement, Dick’s Sporting Goods, Topgolf, Chase Bank, Bank of America, McDonald’s, Chick-fil-A, Raising Cane’s, Chipotle, Whataburger and more. This is a great opportunity to purchase a long-term medical/retail asset in McAllen, TX with a corporate guarantee and limited landlord responsibilities, providing secure cash flows for a passive investor.

FOR SALE DETAILS

PRICE

$5,469,000 USD

PRICE/SF

$478 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CenterWell Senior Primary Care

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.63 AC

LAND SF

71,003 SF

ZONING

CO

APN/PARCEL ID

J2003-03-000-0007-00

ASK ABOUT THIS PROPERTY

Jereme SnyderColliersMore Info
949-724-5552

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Jereme SnyderColliersMore Info
949-724-5552

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.