1673 State Highway 100 - Drug Store FOR SALE


Port Isabel, TX 78578
$1,475,000 USD
404-422-7200
1673 State Highway 100, Port Isabel, TX for Sale
$1,475,000 USD
Drug Store - FOR SALE
1/29
null | Request Cap Rate

1673 State Highway 100
Port Isabel, TX 78578


HIGHLIGHTS

  • Located in a Federal Opportunity Zone
  • Low Cost Basis of $99.53/SF - Well Below Replacement Construction Cost
  • Direct Access to Queen Isabella Causeway and South Padre Island
  • 55 Surface Parking Spots (Estimated)
  • Constructed in 2008
  • Approx. 14,820 SF free-standing building

OVERVIEW

Introducing a prime investment opportunity in San Isabel, Texas a vibrant tourism community adjacent to South Padre Island, located in the Outlying Cameron County submarket. The subject property is located in a Federal Opportunity Zone and is a free-standing building constructed in 2008. Shadowed by an adjacent Walmart Supercenter and H-E-B Grocery, the subject property benefits from consistent vehicular and foot traffic from these major retailers. With an estimated 55 surface parking spots, ample parking is in place for a myriad of uses. Situated on State Highway 100 which connects directly to the Queen Isabella Causeway and South Padre Island, the subject property offers an ideal canvas for second generation retail/office/speciality uses (subject to verification of City of San Isabel's zoning ordinances). The property's strategic location and substantial square footage make it an attractive prospect for investors seeking a value-add addition to their portfolio. Approx. 14,820 SF free-standing building Located in a Federal Opportunity Zone Low Cost Basis of $99.53/SF - Well Below Replacement Construction Cost Constructed in 2008 Prime San Isabel area location Direct Access to Queen Isabella Causeway and South Padre Island AADT of 24,022 at State Park Road 100 and 2nd St NW (Source: CoStar) Street Side Pylon Sign 55 Surface Parking Spots (Estimated) PRICE + TERMS, ALONG WITH ALL OFFERS, ARE SUBJECT TO APPROVAL OF WALGREEN CO.’S REAL ESTATE COMMITTEE

FOR SALE DETAILS

PRICE

$1,475,000 USD

PRICE/SF

$100 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

55

LAND DETAILS

LAND ACRES

1.37 AC

LAND SF

59,677 SF

ZONING

B-1 First Business Dist.

APN/PARCEL ID

479805-0010-002000

ASK ABOUT THIS PROPERTY

Kory Pryor23 Realty Advisors, LLCMore Info
404-422-7200

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Kory Pryor23 Realty Advisors, LLCMore Info
404-422-7200

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