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Key Details
Property Type Single Family Home
Sub Type Building
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 10131231
Sold Date 10/07/21
Lot Size 1.975 Acres
Acres 1.975
Lot Dimensions 1.975 ac
Property Sub-Type Building
Property Description
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
Location
State TX
County Smith
Area Smith
Zoning Industrial
Exterior
View Y/N No
Building
Sewer Public Sewer
Others
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Financing Private
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Bought with Matthew Marshall