$2,295,000
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4285 Hwy 31 Tyler, TX 75702
15,000 SqFt
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
Square Footage 15,000 sqft
Price per Sqft $153
Subdivision Hwy 31 Commercial Park
MLS Listing ID 14525211
Sold Date 10/07/21
Total Fin. Sqft 15000
Year Built 2010
Lot Size 1.975 Acres
Acres 1.975
Property Description
PROPERTY OVERVIEW Absolute NNN investment opportunity with stable pharmacy tenant in East Texas in proximity to two regionalhealthcare hubs and a newly announced medical school. As of November 2020 ,Tyler has regained 98.2 percent of the pre-pandemicemployment levels, which exceeds the state average of 95.6 percent (Source Texas Workforce Commission & Texas Real EstateResearch Center at Texas A&M University). New seven year primary lease term will start at lease execution and includes rentalincreases throughout the primary term providing additional cash flow to Buyer. CAP Rate: 6.5% Lease Rate: $150,000 NNN year
Location
State TX
County Smith
Zoning M-1
Direction From the intersection of Hwy 31 W and Loop 323 in Tyler, travel west to property location on right side of the road.
Interior
Heating Other, Zoned
Cooling Other, Zoned
Flooring Concrete
Heat Source Other, Zoned
Exterior
Utilities Available Asphalt, City Sewer, City Water, Concrete, Curbs, Overhead Utilities
Roof Type Metal
Parking Type Common
Garage No
Building
Foundation Slab
Others
Ownership NA
Financing Other
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©2024 North Texas Real Estate Information Systems.
Bought with Non-Mls Member • NON MLS