Town & Country Shopping Center is a 91,306-square foot, multi-tenant neighborhood retail center located in McAllen, Texas. The center is currently 99 percent occupied, and 81 percent of the gross leasable area has triple-net leases. The offering is comprised one multi-tenant retail center occupying 95 percent of the gross leasable area and one single tenant building, which occupies five percent of the gross leasable area. The multi-tenant center is anchored by Office Depot. Other tenants include 9 Round Fitness, Edible Arrangements, Children’s Orchard, Cliff Ranson, Karla’s Jewelry & Gifts, By Maxwell Studio, El Divino, Shannon Fine Jewelry, Quips & Quotes, Butler’s Barber Shop, French Cafe, Cryo Body Perfections, Brandit, Hobbies & Heroes, Mail-Pak and Watermill Express. The single tenant building is leased to North 10th Street Animal Hospital. Constructed in 1997, the buildings are situated on two parcels totaling 6.8 acres and are located less than one-half mile apart.
The properties are located on North 10th Street near the intersection of North 10th Street and West Dove Avenue. Traffic counts exceed 19,800 vehicles per day in front of the centers. Town & Country Shopping Center is in line with Luby’s and near multiple national and regional retailers including Lowe’s Home Improvement, Sprouts Farmers Market, Dollar General, Walgreens, The Home Depot, H.E.B. Grocery, Sam’s Club, Hobby Lobby, Target, Kohl’s, Marshalls, PetSmart, and many more. The surrounding area has strong demographics with a five-mile population of 253,096. McAllen is the largest city in Hidalgo County, located at the southern tip of Texas in the Rio Grande Valley, the fifth most populated area in the state. McAllen is a vibrant metro area and a major center for retail, international trade, tourism and manufacturing. Every year, thousands of winter Texans arrive to the Rio Grande Valley, during the mild fall and winter seasons, adding more than $710 million into the local economy. Additionally, the Reynosa-McAllen Metropolitan Area has a population of roughly 1,500,000.
- Stabilized Asset Consisting of an 86,524-Square Foot, Multi-Tenant Retail Center and a 4,782-Square Foot, Single-Tenant Veterinary Building
- 99% Occupied | 81% of the Gross Leasable Area has Triple-Net Leases | Upside Potential in Leasing the Vacant ATM Space
- Anchored by Office Depot | Tenant Base is a Complementary Mix of Credit and Local Tenants
- Current Rents are Below Market
- In Line with Luby’s Cafeteria | Located in One of the City’s Main Retail Corridors Along North 10th Street | Numerous National and Regional Retailers Nearby
- Extremely Dense Surrounding Population Exceeding 253,000 Residents Within Five Miles
- Attractive Assumable Financing In Place | Interest Rate is 4.52% | Interest-Only Period Until March 2020 | Cash-on-Cash is 8.76% During Year One of the Amortization Period