Hanley Investment Group Real Estate Advisors arranged the sale of a single-tenant, 2,240-square-foot 7-Eleven convenience store on a 0.19-acre parcel at 1020 S. 23rd St. in McAllen, Texas.
Hanley Investment Group’s Vice Presidents Garrett Wood and Brad Dessy, in association with ParaSell, Inc., represented the seller, a New York-based investment company. Hanley Investment Group generated multiple qualified offers and closed escrow in just 29 days with an all-cash buyer from Northern California. The buyer was represented by Blake Wagenseller of Matthews Real Estate Investment Services.
Built in 1977, the property has operated as a convenience store for more than 47 years at this location. The new owner holds a 12-year absolute net lease. The lease features 10% rental increases every five years and includes four five-year options, each with 10% rental increases.
Situated along South 23rd Street, an average of 19,000 cars per day pass by the site. It is less than a quarter mile from the onramp to Interstate 2, which has a traffic count of 145,000 cars per day. The immediate trade area includes more than 222,000 people and 74,000 households within a five-mile radius. In addition, the property is less than two miles from a popular destination that attracted more than one million annual visitors in 2024.
