Absolute Net Pharmacy Sale Leaseback

Industrial for Sale
Sale Pending
Catylist Listing ID: 30705062
Property Subtypes: Free-Standing, Light Industrial
Status: Pending
Building Size (RSF): 15,000 SF
Gross Building Area: See Agent
Sale Price: $2,295,000
Unit Price: $153 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Sale/Leaseback
Cap Rate: Undisclosed
Last Updated: 5/27/2021

Overview / Comments

PROPERTY OVERVIEW
Absolute NNN investment opportunity with stable pharmacy tenant in East
Texas in proximity to two regional healthcare hubs and a newly announced
medical school. As of November 2020 ,Tyler has regained 98.2 percent of the
pre-pandemic employment levels, which exceeds the state average of 95.6
percent (Source Texas Workforce Commission & Texas Real Estate Research
Center at Texas A&M University). New seven year primary lease term will start
at lease execution and includes rental increases throughout the primary term
providing additional cash flow to Buyer.
CAP Rate: 6.5%
Lease Rate: $150,000 NNN/year

PROPERTY HIGHLIGHTS
• Excellent visibility on Hwy 31 (West Tyler)
• Easy access to Toll 49, Loop 323, Hwy 64 and minutes from I-20
• Tyler Medical District within 5 miles
• Close to Tyler Pounds Regional Airport
• Zoned M-1 Light industrial; allows for manufacturing, industrial, flex, office
and retail use
• 1 Grade level OH door

Attachments & Media

Additional Details

Nearest MSA: Tyler
County: Smith
Tax ID/APN: 150000090500030000
Highway Access: Hwy 31
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 15,000 SF
Property Condition: Good
Roof Type: Flat
Construction/Siding: Metal Siding
Parking Type: Surface
Zoning Description: M-1 light industrial
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,999 39,115 91,825
Median Age: 29.99 33.45 34.41
Households: 992 14,113 35,352

Contact

Photograph of Listing Agent

Matthew K Marshall

Drake Real Estate & Investments GTAR Commercial Member
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