Special Purpose for Sale
Catylist Listing ID: 30530431
Building Size (RSF): 3,577 SF
Gross Land Area: 3 Acres
Sale Price: $625,000
Ceiling: 15 ft.
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Undisclosed, Cash to Seller
Cap Rate: 7.0%
Last Updated: 9/9/2020

Overview / Comments

3 acre commercial property with three buildings (100% Occupancy) that provide NNN lease income. Currently the property is netting~$44,000 annually. Huge potential upside on this property to increase rents to current market rate. See additional documents for proforma numbers of increased rental income. Open acreage available next door to office that could be built for increased income from property. No zoning classification used on property.

Current Tenants

Tenant Business Name Texas Cash Register
Is Renting? Yes
Tenant Notes Tenant would sign long term NNN lease (5+ years) according to seller. Has 1.5 years remaining on 3 year option.
Tenant Business Name Resident
Contact Title Owner/Operator of Donut Palace next door
Is Renting? Yes
Tenant Notes Month to month - would sign long term lease according to seller.
Tenant Business Name Resident of Bardominium
Is Renting? Yes
Tenant Notes 180. per month; month to month lease - could be immediately increased.

Additional Details

Nearest MSA: Tyler
County: Smith
Taxing Authority: SMITH COUNTY
Tax ID/APN: 131970000000002000
Zoning: A
Property Located Between: Loop 323 and Grande
Property Visibility: Excellent
Largest Nearby Street: Hwy 155
Feet of Frontage: 445
Traffic/Vehicle Count: 19,000
Highway Access: Yes
Site Description: 3 buildings on 2.9 acres
Total Number of Buildings: 3
Number of Stories: 1
Typical SF / Floor: 3,577 SF
Property Condition: Excellent
Year Built: 2007
Roof Type: Other
Construction/Siding: Stone
Exterior Description: 3 separate buildings with paved lot
Parking Ratio: 20 (per 1000 SF)
Parking Type: Surface
Parking Description: concrete lot
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: 7 offices, 2 bathrooms & breakroom Separate house, separate barndominium
Zoning Description: Class A, Building Class C
Lot Frontage: 445
Lot Depth: 566
Water Service: Municipal
Sewer Type: Septic
Easements: Other
Legal Description: GREENRIDGE SUBD LOT 2

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,491 28,733 81,341
Median Age: 38.33 38.73 36.61
Households: 1,902 12,789 32,602


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