MCALLEN, Texas – Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of a single-tenant, 2,240-square-foot 7-Eleven convenience store located on a 0.19-acre parcel at 1020 South 23rd Street 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.
“7-Eleven demonstrates the resilience of internet-resistant retail,” said Wood. “Their business model, centered on immediate convenience and capturing impulse buys for everyday essentials, snacks and drinks, ensures a stable revenue stream that simply cannot be replicated online. It’s a consistently sought-after asset for investors.”
Wood added, “The sale of this 7-Eleven underscores the strong market demand for high-quality, essential retail assets. With its absolute net lease and strong investment-grade credit, 7-Eleven offers a truly passive income stream, positioning it as a reliable, long-term performer for investors.”
About Hanley Investment Group
Celebrating 20 years, Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with a $12 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients’ needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties. For more information, visit www.hanleyinvestment.com.
Media ContactCompany Name: Hanley Investment Group Real Estate AdvisorsContact Person: Garrett Wood, Vice PresidentEmail: Send EmailPhone: 512.712.3657Address:3500 East Coast Highway, Suite 100 City: Corona del MarState: CaliforniaCountry: United StatesWebsite: https://hanleyinvestmentgroup.com/
