Las Palmas Plaza

Price: $4,155,000
Sq. Ft.: 10,585
Cap Rate: 6.53%
Built: 2017

Las Palmas Plaza is a 100 percent occupied, 10,585-square-foot, multi-tenant retail center located in Brownsville, Texas.  Approximately 71 percent of the gross leasable area has medical tenants, and all leases are triple-net.  Tenants consist of Northland Hearing Centers, Airostti Rehab Centers, Baaxten Imaging, and Raymond James & Associates.  The building is newer (2017) construction with attractive architecture and is situated on a 1.648-acre parcel with concrete parking.

The subject property is located on the west side of North Expressway 83, benefitting from extremely high traffic counts exceeding 114,030 vehicles per day. Sunrise Mall is catty corner from the property, anchored by Dillard’s, JCPenney, Dick’s Sporting Goods, and Cinemark Theater. Numerous national and regional retailers are in the surrounding area, including Target, TJ Maxx, Burlington, Office Depot, Michaels, PetSmart, Ulta Beauty, Spec’s, Chuck E. Cheese’s, Rudy’s, Chili’s, Johnny Carino’s, Ross Dress for Less, Best Buy, Gold’s Gym, Hobby Lobby, Marshall’s, Kohl’s, Ashley Furniture, Bed Bath & Beyond, Old Navy, Staples, IHOP, and many others.  The surrounding area is densely populated with over 155,300 residents within five miles. Additionally, the trade area is supported by approximately 47,000 daytime employees within a five-mile radius.

  • 10,585-Square-Foot, Multi-Tenant Retail Center
  • 100% Occupied | All Leases are Triple-Net
  • 71% of the Gross Leasable Area has Medical Tenants
  • Tenant Base is a Complementary Mix of Internet-Resistant Businesses
  • Building is 2017 Construction with an Attractive Facade
  • Situated on a 1.648-Acre Lot with Concrete Parking
  • Prime Location in a Major Retail Trade Area Along North Expressway 83 | Major North-South Thoroughfare | Extremely High Traffic Counts Exceeding 114,030 Vehicles per Day
  • Catty Corner from Sunrise Mall | Anchored by Dillard’s, JCPenney, Dick’s Sporting Goods, and Cinemark Theater
  • Numerous National Tenants in the Surrounding Area Including Target, Kohl’s, Hobby Lobby, Best Buy, Marshalls, Ross Dress for Less, Bed Bath & Beyond, Burlington, T.J. Maxx, The Home Depot, Academy Sports and Outdoors, and Many More
  • Densely Populated Area with a Five-Mile Population Exceeding 155,300 Residents
  • The Brownsville-Matamoros Region is a Hub for International Trade | Services a Population of Approximately 1,137,000 People