NAPA Auto Parts 3316 North 23rd Street
McAllen, TX 78501
For Sale
22,500 sqft
Sale Price
$2,895,000
Brochure
Map
Retail For Sale - Available Immediately
$2.895 MILLION | 6.85% CAP RATE | 22,500 SF | NNN LEASE
Get in touch
Ernest Garza
Investment Highlights
Corporate Credit Tenant with National Brand Recognition
• Leased to Genuine Parts Company (NYSE: GPC), the parent company of NAPA Auto Parts, one of the largest and most recognized automotive aftermarket distributors in North America.
• Corporate tenancy provides stronger creditworthiness compared to franchisee or local operator leases.
• Essential-service automotive use has historically demonstrated resilience through economic cycles.
Attractive Basis Well Below Replacement Cost
• Offering price of $2.895 million translates to approximately $128.67/SF for a 22,500 SF facility.
• Large-format retail/warehouse buildings on infill sites are increasingly difficult and expensive to develop due to rising construction, labor, and land costs.
• Opportunity to acquire a functioning commercial asset at a basis that may be favorable relative to replacement cost.
Multiple Exit Strategies at Lease Expiration
• Approximately 15 months remaining on the current lease term through
November 30, 2027.
• Potential outcomes include:
• Lease renewal with NAPA
– Re-tenanting at market rents
– Owner-user acquisition opportunity
– Redevelopment or repositioning of the site
• Flexibility broadens the potential buyer pool and creates opportunities to
increase asset value.
Corporate Credit Tenant with National Brand Recognition
• Leased to Genuine Parts Company (NYSE: GPC), the parent company of NAPA Auto Parts, one of the largest and most recognized automotive aftermarket distributors in North America.
• Corporate tenancy provides stronger creditworthiness compared to franchisee or local operator leases.
• Essential-service automotive use has historically demonstrated resilience through economic cycles.
Attractive Basis Well Below Replacement Cost
• Offering price of $2.895 million translates to approximately $128.67/SF for a 22,500 SF facility.
• Large-format retail/warehouse buildings on infill sites are increasingly difficult and expensive to develop due to rising construction, labor, and land costs.
• Opportunity to acquire a functioning commercial asset at a basis that may be favorable relative to replacement cost.
Multiple Exit Strategies at Lease Expiration
• Approximately 15 months remaining on the current lease term through
November 30, 2027.
• Potential outcomes include:
• Lease renewal with NAPA
– Re-tenanting at market rents
– Owner-user acquisition opportunity
– Redevelopment or repositioning of the site
• Flexibility broadens the potential buyer pool and creates opportunities to
increase asset value.
Prime North McAllen Location
Positioned along North 23rd Street, one of McAllen's primary commercial
corridors, with strong visibility and access to surrounding retail, healthcare,
and residential demand drivers.
Infill Land Position
Approximately 1.58 acres within a mature commercial corridor, offering
parking, truck access, and long-term redevelopment flexibility.
Functional 22,500 SF Facility
Freestanding retail and warehouse configuration suitable for a broad range
of retail, distribution, showroom, service, medical, and flex users.
Flexible Long-Term Use Potential
Warehouse functionality, loading capabilities, and site scale support future
leasing, owner-user, or repositioning opportunities.
Strategic Rio Grande Valley Presence
Located within one of South Texas' most important regional markets,
supported by continued economic and population growth.
Positioned along North 23rd Street, one of McAllen's primary commercial
corridors, with strong visibility and access to surrounding retail, healthcare,
and residential demand drivers.
Infill Land Position
Approximately 1.58 acres within a mature commercial corridor, offering
parking, truck access, and long-term redevelopment flexibility.
Functional 22,500 SF Facility
Freestanding retail and warehouse configuration suitable for a broad range
of retail, distribution, showroom, service, medical, and flex users.
Flexible Long-Term Use Potential
Warehouse functionality, loading capabilities, and site scale support future
leasing, owner-user, or repositioning opportunities.
Strategic Rio Grande Valley Presence
Located within one of South Texas' most important regional markets,
supported by continued economic and population growth.
Total Space Available
22,500 sqft
Sale Price
$2,895,000
Get in touch
Ernest Garza