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Ed Carey Plaza | Harlingen, TX

1306 North Ed Carey Drive, Harlingen, TX 78550

Description

 

TEd Carey Plaza is a 23,243 square foot neighborhood shopping center located in Harlingen, Texas. The Property is 100% leased to a complementary mix of tenants including T-Mobile, Marble Slab Creamery, Quizno' s, Wing Barn, Advance America, Sun Loan and Sylvan Learning Center among others. The average lease expiration amongst the tenant base is July 2019. Ed Carey Plaza is located along North Ed Carey Drive just west of the 77 Sunshine Strip and less than two miles from Interstate 69, a major US highway that runs through the southeastern part of Texas. The Property has easy access with two ingress/egress points and is accessible from both directions along Ed Carey Drive with approximately 28,000 vehicles passing by the Property per day.The retail corridor surrounding Ed Carey Plaza consists of many national restaurant brands including Starbucks, Jason' s Deli, Taco Bell, Wendy' s, Subway, McDonald's, Burger King and Whataburger among others.

Ed Carey Plaza
Retail Property

Price: $

Gross Leasable Area: 23,243 SF

Price/SF: $

Property Type: Retail

Property Sub-type: Strip Center

Property Use Type: Investment

Cap Rate: 7.25%

Net Operating Income:$343,287.50

Occupancy: 100%

No. Stories: 1

Tenancy: Multiple

Year Built: 1998

Lot Size: 2.11 AC

Listing ID: 19471186

Last Updated: 

100% Leased Retail Center in the Rio Grande Valley City of Harlingen, TX

Fully Renovated in 2012 Including New Roof with 10-Year Warranty

Rents Average Just $14.88 PSF NNN

Estimated Rio Grande Valley Population Approximately 1.3 Million and Growing

Priced Near Replacement Cost at $203.74 PSF

Staggered Lease Structure with Average Base Lease Term Through July 2019

Additional Information

TThe Property is shadow anchored by a United Healthcare facility which is a significant daytime draw and results in additional vehicle/pedestrian traffic. Notable nearby development includes a brand new protype Walgreens and Chick-fil-a currently is in the planning phases for a location on the site of the former Sun Valley Motor Hotel on the 77 Sunshine Strip. Less than one-half mile to the east of Ed Carey Plaza is the Valley Baptist Medical Center which comprises over 2,000 employees with a 20,000 patient capacity. Other area retailers include Home Depot, H-E-B Grocery, Lowe' s, Bealls and CVS and among others.

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