$2,295,000
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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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Bought with Matthew Marshall
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "