|Current / Passing Rent||
|Remaining Term||4 years, 7 months|
|Tenant||Ivan Smith Furniture|
JLL is pleased to offer for sale the fee-simple interest in a single-tenant Ivan Smith Furniture ( “Property”). Situated in Emory, Texas, the Property consists of 10,081 square feet with approximately 4.7 years of lease term remaining on a NN lease structure. With a rent of $6.51 PSF, the tenant’s rent is nearly 40% below the market average. The Property presents investors with the opportunity to purchase a well-established Asset, significantly below replacement cost, Ivan Smith Furniture store that has a strong foothold in the East Texas market.
• NN lease in which the landlord is solely responsible for roof and structure.
• 4.7 years of contractual lease term remaining and no remaining options.
• Future mark-to-market upside, allowing future owners an opportunity to capitalize on nearly a 40% rental increase.
• Centralized location alongside US-39, the primary commercial thoroughfare bisecting the city of Emory.