Fiesta Mercado

Price: $19,500,000
Sq. Ft.: 195,564
Cap Rate: 6.64/9.44%
Built: 2000
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Marcus & Millichap is pleased to present the opportunity to acquire a 180,779-square foot grocery-anchored regional shopping center in the El Paso suburb of Socorro, Texas. Anchored by Food King, the center is currently 77 percent occupied with triple-net leases, providing upside potential in leasing the vacant suites. Tenants are a complimentary mix of national and local businesses, with fifty percent of the gross leaseable area having credit tenants including Melrose, Family Dollar, Ace Hardware, Sally Beauty Supply, Pizza Hut, H & R Block, Fred Loya Insurance, Oportun, and others. Additionally, the center includes a 14,785-square foot freestanding building with a long-term gross lease with the State of Texas Health and Human Services. Situated on approximately 22 acres, the property consists of five buildings, a large parking lot, and two pad sites for potential development.

  • Value-Add Grocery-Anchored Multi-Tenant Regional Shopping Center
  • Priced at $99 per Square Foot | Below Replacement Cost
  • Currently 77% Occupied | Tremendous Upside Potential | Pro Forma Cap Rate is 9.44%
  • Complementary Mix of Tenants | 50% of the Gross Leasable Area is Leased to Credit Tenants
  • Anchored by Food King | Strong Corporate Guarantee from Lowe’s Supermarkets, Inc. | Operates more than 140 Stores in Five States | Includes 17 Food King Locations
  • Major Tenants Include Melrose, Family Dollar, and Ace Hardware
  • The Property Includes an Additional 14,785-Square Foot Freestanding Building Leased to Texas Health and Human Services | Government Credit
  • Large 22-Acre Lot with Ample Parking | Includes Two Pad Sites for Potential Development | One Pad Site is 82,908 Square Feet and the Other is 36,259 Square Feet
  • Recent Building Updates Include a New Roof, HVAC Units, Paint, Replacing Parking Lights with LED Lights, and New Signage
  • Largest Shopping Center within a Three-Mile Radius
  • Signalized, Hard Corner Location with Multiple Ingress and Egress Points | Traffic Counts on North Loop Drive are 14,800 Vehicles per Day | Traffic Counts on Horizon Boulevard are 19,200 Vehicles per Day
  • New Four-Lane Road Connecting Horizon Boulevard with Loop 375 and Americas Avenue Completed Summer 2018
  • Located in El Paso’s Lower Valley | Severs a Wide Customer Base in Socorro and the Surrounding Areas of Clint, San Elizario, Sparks, Horizon City and the City of El Paso