Tyler, TX 75702,4285 State Hwy 31 W

$2,295,000

Est.Price: ?

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Est. payment /mo

1.98 Acres Lot


SOLD DATE : 10/07/2021

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 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

Waterfront No

View Y/N No

Building

Sewer Public Sewer

Others

Acceptable Financing Conventional, Cash

Listing Terms Conventional, Cash

Financing Private

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Greater Tyler MLS (GTARMLS)
Listed by Matthew Marshall • Drake Real Estate & Investments
Bought with Matthew Marshall
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