00 Old Arroyo Cir., Arroyo City, TX 78583
sale
$1,750,000
|
Other
Courtesy Of Joyce L. Benson
Rare NNN ground lease investment opportunity. This 10.52 acre tract consists of 17 waterfront lots and 8 non waterfront lots on the Arroyo at Circle X. Each of the 17 waterfront lots are currently leased on long term ground leases, which produce $125,182.69 in annual income. The lease agreements provide for the properties to be appraised every five years and the rents to be adjusted according to the new appraisal, based on the Arroyo frontage for each lot. The 8 non waterfront lots, totaling 4.423 acres, are not currently leased. All of the lots have frontage on Old Arroyo Circle. The non waterfront lots could be leased to provide additional income. All of the waterfront lots have leasehold improvements. The property is a non recorded subdivision located in an unincorporated area of Cameron county and is not currently zoned. FEMA Flood Zone is A for the entire property. The property was appraised in 2023 for $2,500,000.00
Read More About This Property
Read Less About This Property
Copyright © 2025 Rio Grande Valley Multiple Listing Service Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Property Features
- Amenities: Water Front
- Architecture Style: Other
- MLSID: 29762128
Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
