3900 Troup Hwy, Tyler, TX, 75703, US

At Home - Tyler, TX

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the 120,436 square foot retail asset located at 3900 Troup Hwy in Tyler, TX (the “Property” or “Asset”). The Property is leased by At Home (the “Tenant”) with favorable net lease structure, below market rents, annual 3% bumps in the primary term and additional income from Chick-fil-A and Brown’s Automotive Tire Center. At Home is a leading home furnishing store with 255 locations throughout the country and over $1.7 billion in annual revenues.

The Property is ideally located two blocks from the main campus of the University of Texas at Tyler, one of the fastest growing universities in the UT system with 10,000+ full-time students and faculty. Nearby are Tyler Junior College and Texas College, making Tyler home to 24,000 higher-education students.

The Tyler Metro market has exhibited greater job growth compared to any other metropolitan area in Texas since 2020. The surrounding 1-mile radius population has grown by an unprecedented 50% since 2010. This location thrives in a premier corridor with apartment complexes, hotels, and school systems.

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Attributes

Asking Price

$5,400,000

Building area Gross

120,436 sf

Occupancy

100.00%

Year built

1987

Cap Rate

7.50%

NOI

$406,000

Media

Investment highlights

Top Growth Market: Tyler, TX has experienced a 22% population growth since 2010
Dynamic Corridor: Located within a premier retail corridor that includes a Walmart Supercenter, Super 1 Foods, Chick-fil A, apartment complexes, hotels, and school systems. The Property front Troup Highway and benefits from access and visibility to more than 27,000 VPD.
Adjacent to University Campus: Two blocks form the main campus of the University of Texas at Tyler, a fully accredited institution with more than 10,000 students and faculty
Industry Leading Tenancy: At Home is a leading home furnishing store with 255 locations throughout the country and over $1.7 billion in annual revenues
Favorable Lease Terms: Net lease structure with rents well below market value and additional income from Chick-fil-A and Brown’s Automotive Tire Center