3010 Washington Blvd
Beaumont, TX 77705
Price:
$1,350,000
Cap Rate:
7.78%
NOI:
$105,016
Building Size:
Approx. 10,100 Sq. Ft.
Lot Size:
Approx. 0.77 Acres
Type:
Multi-Tenant / Retail
Sub Category:
Retailer
Year Built:
2016
Investment Overview
- 2016 Construction. 10,100± SF Building On 0.77± Acre Site
- Stabilized Multi-Tenant Retail Asset With 100% Occupancy Featuring 6 Leasable Suites Averaging 1,683 SF and a Complimentary Mix of Service-Oriented Tenants
- High-Visibility Location Along Washington Boulevard Positioned On a Heavily Trafficked Retail Corridor Seeing 15,344+ Vehicles Per Day
- Significant NOI Upside Through NNN Expense Reimbursements Tenants Are On NNN Leases but Currently Paying Base Rent Only, Allowing NOI Growth From $105,016 to $151,196
- Priced Well Below Replacement Cost Offered at $133.66 PSF With Additional Upside From Below-Market In-Place Rents Across a Portion of the Rent Roll
- Diverse Regional Tenant Roster Provides Stability Long-Term Tenant Occupancy With Over 55% of the Rent Roll in Place for 7+ Years Supporting Durable Cash Flow
- Beaumont, TX | Energy, Logistics & Port-Driven Economy | Population: 113,000 Strategic Gulf Coast Market Anchored by the Port of Beaumont, Major Employers, and Direct Access to Interstate 10