Investment Highlights
10-Year Ground Lease with built in rental escalations every 5 years
Rio Grande Valley is Chili?s most profitable market in the country
Low Cost, Low Responsibility Property - (Tenant maintains Property through lease term)
4, 5-Year Renewal Options - (10% base rent increase each option period)
Excellent Location and Access: Positioned on HWY 83 & I-2 seeing over 122,000 VPD
Executive Summary
Chili's (the ?Property?) is a 5,105 sf retail property located at 1411 W Interstate 2 in San Juan, Texas. Built in 2023, the property sits on 1.47 acres on Interstate 2 seeing over 135,000 vehicles per day. The lease commenced this year and has a 10 year term with a built in rent escalation and four renewal options. This Chili?s location sees over 21,000 visitors per month and is ranked in the top 82% of Chili?s locations Nationwide. Other major retailers in the immediate area include Olive Garden, Starbucks, Acura, Audi, Walmart, H-E-B, and the Mercadome Flea Market and Alamo Dance Hall, a renown flea market in South Texas. Multiple of these locations see millions of visitors per year. Chili?s serves as a great investment for a new owner due to it's location in Rio Grande Valley, Chili's most profitable market in the nation. Chili's is a secure national tenant with 10 years still in the lease term. As well as, due to the NNN ground lease, a new owner will have no landlord responsibilities.
