Catylist ID:
#30705062
| Catylist Listing ID: | 30705062 |
| Property Subtypes: | Free-Standing, Light Industrial |
| 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: | 2/16/2021 |
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 |
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 |
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