00 Old Arroyo Cir
Rio Hondo, TX 78583

17 Waterfront lots and 8 non waterfront lots located on the Arroyo Colorado at Arroyo City, Texas. Each of the waterfronts lots are leased on long term ground leases. Tenants are responsible for maintaining the properties and for any taxes or assessments levied against the properties. The 8 non waterfront lots, totaling 4.43 acres,  could be leased to provide additional income. The Arroyo Colorado is an 89 mile long river that runs through Cameron, Hidalgo and Willacy Counties in deep south Texas and empties into the Lower Laguna Madre at the Intercoastal Waterway. The Arroyo City area is a very popular destination for boating, fishing and watersports and provides easy access to excellent bay fishing in the Laguna Madre along with great night fishing under the lights on the piers attached to the waterfront lots. 
  Each of the waterfront lots have improvements including single family homes and mobile homes. Most of the properties have fishing piers and boat docks as additional improvements. This property was appraised in 2023 for $2,500,000.00. The current rental income is $125,182.69. At the current list price that would produce a cap rate of 7.2% on a secure ground lease investment.  Please contact listing agent for additional information.