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Boca Chica Shopping Center BOCA CHICA SHOPPING CENTER NWC Expressway 77/83 & Boca Chica Boulevard, Brownsville, TX BOCA CHICA SHOPPING CENTER FOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET OFFERED FOR SALE Total GLA 5,628 SF Location 1873 Boca Chica Boulevard, Brownsville, TX 78521 NOI $160,398 Sale Price Call For Pricing (Financing Available) SITE 66,000 CPD ZARAGOSA ST SIMPSON ST ALDRIDGEAVE 69E EXPRESSWAY 77/83 21,000 CPD 38,000 CPD BOCA CHICA BLVD 57,000 CPD PAREDES LANE RD PROPERTY INFORMATION Boca Chica Shopping Center is a newly Boca Chica Shopping Center is situated on .54 constructed 5,628 SF single-story, single tenant acres of land in the Brownsville trade area. The retail building located at 1873 Boca Chica center is on the area’s major thoroughfare and Boulevard on the northwest corner of the surrounded by numerous densely populated signalized intersection of Expressway 77/83 and neighborhoods. Boca Chica Boulevard in Brownsville, Cameron County, TX. 2 BOCA CHICA SHOPPING CENTER FOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET INVESTMENT HIGHLIGHTS - Single Tenant Building Leased to Experienced Regional Dental Practice - New Construction - Hard Corner at Signalized Intersection with Freeway Visibility - Proven Concept with Strong Guarantor - Center Fronts Expressway 77/83, The Rio Grande Valley’s Dominant Thoroughfare - Agua Dental was Founded in 2012 and Currently Has Four Locations Throughout the Rio Grande Valley with Continued Plans for Expansion AREA EMPLOYERS AREA RETAILERS 3 BOCA CHICA SHOPPING CENTER FOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET INVESTMENT OVERVIEW LOCATION: NWC Expressway 77/83 & Boca Chica Boulevard ADDRESS: 1873 Boca Chica Boulevard, Brownsville, TX 78521 ACRES: 0.54 YEAR BUILT: 2016 BUILDING NRA: 5,628 OCCUPANCY: 100% PARKING SPACES: 25 (4.44/1,000) CONSTRUCTION: Construction materials identified as Cinderblock, EIFS façade and concrete parking lot LANDLORD RESPONSIBILTIES: Repair and replacement to common area; repair to roof, structure and utility lines outside Premises; lighting in the parking area. Common areas include parking area, service drives, traffic islands, landscaped areas, loading areas, sidewalks, roof, gutters and downspouts, sprinkler risers, electrical gutters, as well as drainage and lighting facilities servicing any of the aforesaid areas ADMIN FEE: 15% MANAGEMENT FEE: 4% of gross revenues NOI: $160,398 4 BOCA CHICA SHOPPING CENTER FOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET TENANT OVERVIEW Agua Dental Agua Dental offers a full range of general, cosmetic and reconstructive dentistry services such as teeth whitening, crowns, preventive care and implants as well as pediatric dentistry. Founded in 2012, Agua Dental utilizes proven state-of-the-art technology to provide patients with an effective and affordable dental experience. The practice is owned and personally guaranteed by Dr. Shawn Akhavan, D.D.S, who currently operates three Agua Dental locations throughout south Texas and recently secured a forth location. Agua Dental has been in operation for five years with continued plans of expanding similar dental concepts both inside and outside the Rio Grande Valley. www.aguadentaltexas.com 5 BOCA CHICA SHOPPING CENTER FOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET RIO GRANDE VALLEY OVERVIEW The Rio Grande Valley is located at the southernmost tip of Texas, on the northern bank of the Rio Grande River, which divides Mexico from the United States. The Rio Grande Valley is made up of four counties (Starr, Willacy, Cameron and Hidalgo) and populated with over 1.3 million predominately Hispanic residents. With a land area of 11,122,712 square kilometers, the Rio Grande Valley is almost twice the size of Delaware and four times the size of Rhode Island. The major cities include, Brownsville, McAllen, Harlingen, Mission, Edinburg and Pharr, in addition to several smaller towns. Boasting nine Ports of Entry bridges connecting the Valley cities to Mexico, the cities are uniquely positioned as hubs for international trade in the North American Free Trade Agreement (NAFTA) marketplace and make up the “Rioplex” along with the northern border cities of Mexico between Matamoros and Ciudad Mier. In 2016, Texas exports with Mexico exceeded $92 million with $81 million in imports from Mexico. This trade is primarily dominated by truck movements and relies on the land Ports of Entry bridges throughout the Valley. The ability to market and sell both North and South from a central location is key to the international trade created by NAFTA. As the markets continue to open and expand to Mexico and Central and South America, companies are seeking the most strategic location from which to distribute their products. Brownsville has emerged as a top destination for retailers, manufactures and logistic firms continually in pursuit of a thriving new location to grow their business. BROWNSVILLE TRADE AREA OVERVIEW • Brownsville is an established, densely populated trade area with the majority of residents locally employed in government, education and health services as well as trade, transportation and utilities. • Home to four Port of Entry bridges, two of which are commercially used, connecting Brownsville to Matamoros, Mexico which supports the Brownsville-Matamoros United partnership dedicated to serving the industrial and economic growth of the global marketplace. • Brownsville plays a critical role in trade activity, in 2015, exports and imports with Mexico to and from Brownsville totaled $13.5 billion. • Mexican Nationals generate $1.1 billion annually in retail spending in the Rio Grande Valley. • Brownsville is an attractive market for young families, 11th youngest city in the U.S., as well as snow birds due to the draw of moderately priced homes, overall low cost of living and easy accessibility to healthcare. • Home to two major award-winning hospitals, Valley Regional Medical Center and Valley Baptist Medical Center, which are among the city’s top employers. 69E DEMOGRAPHICS Villanova Ave Frontage Rd 1 MILE 3 MILES 5 MILES 10 MILES Las Casas St Frontage Rd 69E Daytime Population 19,726 127,820 196,099 246,195 Carthage Ct AldridgeAve 281 77 48 Zaragosa St 77 Population 13,754 101,201 187,567 222,662 SITE Frontage Rd 4 Average HH Income $45,568 $44,084 $46,279 $47,756 United States SITE 4 Mexico 83 Boca Chica Blvd Paredes Line Rd d v 69E l B 83 Rd Frontage N m l a Frontage Rd P TRAFFIC COUNTS United StatesMexico 83 77 Expressway 77/83 N of Boca Chica Boulevard 66,000 cpd 2 69E Paredes Line Rd Mexico Expressway 77/83 S of Boca Chica Boulevard 57,000 cpd Boca Chica Boulevard W of Expressway 77/83 21,000 cpd Boca Chica Boulevard E of Expressway 77/83 38,000 cpd 6 BOCA CHICA SHOPPING CENTER FOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET PROJECTED ANNUAL OPERATING STATEMENT CURRENT Base Rent Occupied Space 160,398 Vacant Space @ Market - Gross Potential Rent 160,398 Total Reimbursements 31,452 Gross Income 191,850 Less: General Vacancy – Effective Revenue 191,850 Reimbursable Operating Expenses CAM 8,442 Real Estate Taxes 11,256 Insurance 2,814 Administrative Fee 1,266 Management Fee 7,674 Total Reimbursements 31,452 Net Operating Income $160,398 Notes: (1) Reconciliation expected to occur at year end (2) Operating expenses based on Landlord proforma (3) Administrative Fee based on 15% of CAM (4) Management Fee based upon 4% of Gross Revenues 7 BOCA CHICA SHOPPING CENTER FOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET FINANCIALS AVAILABLE UPON EXECUTION OF CONFIDENTIALITY AGREEMENT 8 9 LDG job# 214.30 job# LDG 01 05 KEYED NOTES KEYED PLAN SITE 1/16" = 1'-0" = 1/16" A-0.1 BOCA CHICA SHOPPING CENTER PYLON SIGN PYLON 12 FOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET CONCRETE WHEEL STOP, RE: 05/A-0.2 RE: STOP, WHEEL CONCRETE 11 SITE PLAN SITE 10 CONCRETE CURB RAMP. RE: 09/A-0.2 RE: RAMP. CURB CONCRETE be subject to legal action. legal to subject be is prohibited and any infringement will infringement any and prohibited is drawing without their written consent written their without drawing reproduction, copying or use of this of use or copying reproduction, 4" WIDE PAINTED STRIPES, PAINT WHITE PAINT STRIPES, PAINTED WIDE 4" 9 the property of the architect. The architect. the of property the This drawing and the design shown is shown design the and drawing This 8 PAINTED HANDICAP SYMBOL, RE: 12/A-0.2 RE: SYMBOL, HANDICAP PAINTED 7 CONCRETE PAVING, RE: CIVIL RE: PAVING, CONCRETE TRASH ENCLOSURE, RE: 01/A-0.3 RE: ENCLOSURE, TRASH 6 6" PIPE CONCRETE FILLED BOLLARD, RE: 07/A-0.2 RE: BOLLARD, FILLED CONCRETE PIPE 6" 5 HANDICAP PARKING SIGN, RE: 04/A-0.2 RE: SIGN, PARKING HANDICAP 4 3 LANDSCAPED AREA LANDSCAPED EDGE OF SIDEWALK, RE: 03/A-0.2 RE: SIDEWALK, OF EDGE 2 DATE REV GRANULAR FILL. GRANULAR 1 NEW REINFORCED CONCRETE WALK ON 4" MIN. A.B.C. MIN. 4" ON WALK CONCRETE REINFORCED NEW 03/16/15 PERMIT/BID SET PERMIT/BID 02 PARKING DATA PARKING BOCA CHICA AT EXPRESSWAY 77 BOCA CHICA SHOPPING CENTER MCALLEN, TEXAS SDI REALTY 03 GENERAL NOTES GENERAL DIMENSIONS 15. REFER TO CIVIL DRAWINGS FOR ADDITIONAL NOTES AND NOTES ADDITIONAL FOR DRAWINGS CIVIL TO REFER 15. LIGHTING. 14. REFER TO SITE ELECTRICAL PACKAGE FOR ANY REQUIRED SITE REQUIRED ANY FOR PACKAGE ELECTRICAL SITE TO REFER 14. WORK. NOTIFY ARCHITECT OF ANY DISCREPANCIES BEFORE BEGINNING ANY BEGINNING BEFORE DISCREPANCIES ANY OF ARCHITECT NOTIFY 13. GENERAL CONTRACTOR TO SCHEDULE BLUE STAKE INSPECTION AND INSPECTION STAKE BLUE SCHEDULE TO CONTRACTOR GENERAL 13. CONSTRUCTION. BOCA CHICA BOULEVARD CHICA BOCA NOTIFY THE ARCHITECT OF ANY DISCREPANCIES OR OMISSIONS PRIOR TO PRIOR OMISSIONS OR DISCREPANCIES ANY OF ARCHITECT THE NOTIFY AGUA DENTAL 12.
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