Address: 2204 East SE Loop 323, Tyler, Texas, United States 75701
Type: Gas & Conv. Store
Cap Rate: 4.75%
Lease Type: Triple-Net (NNN)
Annual Rent: $267,500
Net Operating Income: $267,500
Lease Term Remaining: 15 Years
Rental Increases: 7.5% Every Five (5)-Years
Options: Three (3), Five (5) Year Option Periods
Rentable Sq/Ft: 2,160 SF
Rent Sq/Ft: $123.84
Price Sq/Ft: $2607
Lot Size: +/- 0.97 Acres
Marcus & Millichap is pleased to present the exclusive listing for a 7-Eleven located at 2204 East SE Loop 323 in Tyler, Texas. The property consists of roughly 2,160 rentable square feet of building space on an estimated 0.97-acre parcel of land.
7-Eleven is subject to a brand new 15-Year Absolute Triple-Net (NNN) lease. The initial rent is $267,500 annually with 7.5% increases every 5 years. There are three (3), five (5)-year tenant renewal options, extending the total possible lease term to 30 years.
This 7-Eleven investment property is located at 2204 E Southeast Loop 323 on a hard corner of a signalized intersection. E Southeast Loop 323 boasts average daily traffic counts exceeding 40,000 vehicles. E Southeast Loop intersects with Troup Highway which brings an average additional 26,000 vehicles into the immediate area per day. The subject property benefits from being located in a heavily populated area. There are more than 63,000 individuals residing within a three-mile radius of the property and 104,000 individuals within a five-mile radius of the property.
The subject property benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants. Major national tenants include: Dollar General, Dollar Tree, Walmart, Walgreens, At Home, Hobby Lobby, Anytime Fitness, Jimmy Johns, Starbucks, KFC, and more. There are many hotel accommodations in the area such as: Days Inn, Holiday Inn Express, Homewood Suites, and more. The subject property is approximately 11 miles away from Tyler Pounds Regional Airport. The 7-Eleven investment property is located approximately 11 miles from Tyler Pounds Regional Airport. Additionally, this 7-Eleven investment property is approximately three miles from Mother Frances Hospital, which has 402 licensed-beds.
Tyler is the county seat of Smith County, located in east-central Texas, United States. Tyler has grown to be the largest community in East Texas. Boasting an MSA population of over 225,000 people, Tyler offers the cultural diversity, quality education, health care, and recreational opportunities of a large city wit the hometown friendliness and quality of life of a small community. Tyler is also known as “The Rose Capital of the World” for having the largest rose garden in the United State and for hosting several community events like the Texas Rose Festival. The city is surrounded by 25 prime sporting lakes offering wonderful opportunities for fishing and boating. Golf enthusiasts will find a variety of golf clubs in the immediate area as well. The most notable park in Tyler is the Tyler State Park, which offers families 985 acres of woods around a beautiful spring-fed lake. The largest industries that drive Tyler’s economy are: Health Care & Social Assistance, Retail Trade, and Accommodation & Food Services.
B.O.R Timothy Speck License: 432723