- Absolute net lease with 15% increases in each of the two remaining options.
- Located one block north of I-2 with traffic counts of ±118,761 VPD and surrounded by 4.3M SF of retail space.
- McAllen International Airport is located 1 mile S (2.4M passangers annually), McAllen Convention Center 3 miles NW (400K visitors annually).
Pharma Property Group is please to present the opportunity to purchase a Denny’s in McAllen, Texas. Income guaranteed by Denny's with approximately 1,600 locations in the United States and in 14 countries. This lease has 5% increases in each of the extension options. The remaining term on this lease is approximately three and a half years with two (5-year) options. This is an absolute net lease with no landlord responsibilities.
This Denny's is located one block north of Interstate 2 which has average daily traffic counts of ±118,761 vehicles per day. The subject property is situated in a retail corridor where there is 4,300,000 square feet of retail space in a one-mile radius. La Plaza Mall is south of the subject and includes Macy's, Dillard's and Old Navy. McAllen Shopping Center is located two miles east of the subject property and includes Costco and Lowe's Home Improvement. McAllen International Airport sits on 370 acres and is located one mile south of the subject property. This airport services approximately 2,400,000 passengers annually. South Texas College is comprised of six campuses, three of which are in McAllen. The colleges have an enrollment of approximately 31,000 students and a staff of 1,600 across the six campuses. Pecan Campus is the main campus located three miles northwest of the subject property. The McAllen Convention Center draws visitors to McAllen for conventions, meetings and community events with an average attendance of 400,000 people annually. The convention center is two miles west of the subject and there are more than 20 hotels totaling over 2,200 rooms within a one-mile radius of the subject.