Retail

Ivan Smith Furniture - Emory, TX

510 W Quitman St Emory, TX United States 75440-2272
Asking Price
Sq. Footage
NOI Net Operating Income
Cap Rate

Attributes

Year Built 1920
Lease Type NN
Current / Passing Rent
Lease Expiration 2024-10-14
Remaining Term 4 years, 7 months
Tenant Ivan Smith Furniture

Property Description

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.

Investment Highlights

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.

Caroline Binning
Caroline Binning
Vice President, Capital Markets
Licensed in
TX - 601565

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