RIO GRANDE RETAIL
RIO GRANDE CITY, TX (McALLEN MSA)
Rio Grande Retail
4761 E US Hwy 83
Rio Grande City, TX 78582
SUMMARY
The analysis date for the Income & Expenses is 11/1/2020. This takes into consideration a 1-year hold from such date and any recent escalations within the following year
Lease Notes:
1. The analysis date for the Income & Expenses is 7/8/2020. This takes into consideration a 1 year hold from such date and any recent escalations within the following year
2. Storage Unit square footage is not inlcluded in total above because it is separate from the retail building
3. Regional Mgmt has an aditional bump on 5/1/2021 to $12 PSF
Tenant State Farm
Corporate/Franchise Franchise
Locations 18,000+ Exclusive Agents
Public/Private Private
Line of Business
State Farm is a large group of insurance and financial services companies throughout the United States with corporate headquarters in Bloomington, Illinois. State Farm is the largest property, casualty and auto insurance provider in the United States. State Farm relies on exclusive agents to sell insurance.
Tenant TitleMax
Corporate/Franchise Franchise
Locations 1,150+ Locations
Public/Private Private
Line of Business
TitleMax is a title lending business that serves individuals who generally have limited access to credit TitleMax offers title loan products that allow customers to meet their liquidity needs by borrowing against the value of their vehicles while retaining use of their vehicle during the term of the loan.
Tenant Regional Management
Corporate/Franchise Corporate
Locations 350+ Locations
Public/Private Public (NYSE: RM)
Line of Business
Regional Management Corp. is a diversified consumer finance company operating under the name “Regional Finance” with branch locations across 11 states. Regional Management provides installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other lenders.
Tenant Okashi Sushi Bar & Seafood
Corporate/Franchise Corporate
Locations 1 Location
Public/Private Private
Line of Business
Okashi Sushi Bar & Seafood is a sushi restaurant that serves sushi, salads, seafood, wings and burgers.
• Value-Add Multi-Tenant Center in Rio Grande City, TX
• 92.9% Occupied with Significant Upside Potential
• 7,900 SF self-storage facility included with property, with 80 vacant mini storage units. Estimated rent from these units would be around $2,500-$3,000/month with little increase in expenses
• Significant term remaining on most leases with built-in rental increases
• Located on US Highway 83, the main traffic artery in the Rio Grande Valley, where traffic counts exceed 31,000 vehicles per day
• Rio Grande City is Located Approximately 38 miles West of McAllen, TX
• Located on within the main retail corridor of Rio Grande City, situated less than half a mile away from a Walmart Supercenter and H-E-B Plus.
• Other national credit tenants surrounding the property include AMC Theatres, Gamestop, Dollar Tree, O’Reilly Auto Parts, McCoy’s Building Supply, Hibbett Sports, Bealls, AutoZone, Denny’s, Domino’s, Peter Piper Piza, McDonald’s, Taco Bell and Whataburger
RINGGOLD ELEMENTARY SCHOOL
31,179VPD MAIN ST E 2ND ST
ACADEMY FOR ACADEMIC ENHANCEMENT
RIOGRANDE
McAllen, TX
OVERVIEW
McAllen is the 22nd-most populous city in Texas and the largest city in Hidalgo County, Texas. Located at the southern tip of Texas in the Rio Grande Valley, McAllen is on the Rio Grande, across from the Mexican city of Reynosa, and is approximately 70 miles (110 km) west of South Padre Island and the Gulf of Mexico. As of 2019, McAllen’s population was estimated to be 143,268. It is the fifth-most populous metropolitan area in the state of Texas, while the binational Reynosa–McAllen metropolitan area counts a population of nearly 1.52 million.
McAllen can trace its roots to the railroad industry. In 1904, the Hidalgo and San Miguel Extension of the St. Louis, Brownsville and Mexico Railway reached the Santa Anita Ranch. John McAllen and his son James donated land to the railroad to guarantee it would cross the area. From its settlement in 1904, the area around McAllen was largely rural and agricultural in character, but the latter half of the 20th century had steady growth, which the metropolitan area still experiences today.
McAllen is often referred to as the retail center of Southern Texas and Northern Mexico. In fact, the region’s La Plaza Mall makes the most sales per square foot than any other shopping mall in the country. McAllen has seen year-over-year job growth of around 2.5 percent, but the area’s unemployment rate is higher than the national average.
Education and health services make up two of the largest employment sectors in McAllen thanks to top employers like the McAllen Independent School District, South Texas College, the University of Texas-Rio Grande Valley, McAllen Medical Center and Rio Grande Regional Hospital. There are also opportunities in the public sector, including with the City of McAllen. Other major employers include BBVA Compass Bank, IBC Bank and GE Engines. Sites of architectural and cultural significance include the Rio Grande Speedway, the International Museum of Art and Science, Quinta Mazatlan and McAllen Botanical Gardens as well as the thriving downtown McAllen.
Demographic data © CoStar 2020
CONFIDENTIALITY AGREEMENT
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE.
This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. STRIVE has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.
Commercial Disclaimer
STRIVE hereby advises all prospective purchasers of commercial property as follows:
The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.
As the Buyer of a commercial property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.
Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a commercial property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any commercial property to determine to your satisfaction with the suitability of the property for your needs.
Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenants and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenants history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term leases, including the likelihood of locating replacement tenants if any of the current tenants should default or abandon the property, and the lease terms that Buyer may be able to negotiate with any potential replacement tenants considering the location of the property, and Buyer’s legal ability to make alternate use of the property.
By accepting this Marketing Brochure you agree to release STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this commercial property.
Information About Brokerage Services
Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.
TYPES OF REAL ESTATE LICENSE HOLDERS:
• A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.
• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):
• Put the interests of the client above all others, including the broker ’s own interests;
• Inform the client of any material information about the property or transaction received by the broker;
• Answer the client’s questions and present any offer to or counter-offer from the client; and
• Treat all parties to a real estate transaction honestly and fairly.
A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:
AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer ’s agent.
AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by th e seller or seller ’s agent.
AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary:
• Must treat all parties to the transaction impartially and fairly;
• May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and
• buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.
• Must not, unless specifically authorized in writing to do so by the party, disclose:
ӽ that the owner will accept a price less than the written asking price;
ӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and
ӽ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.
AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:
• The broker’s duties and responsibilities to you, and your obligations under the representation agreement.
• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.
LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.