Marcus & Millichap is pleased to offer the opportunity to acquire a 8,089-square foot, multi-tenant retail center located in Tyler, Texas. Whataburger Retail Center is currently 100 percent occupied, and 85 percent of the current leases are triple-net. The center is a complementary mix of internet-resistant tenants, consisting of Whataburger, Bunny’s J.D. Food Mart, and Bank OZK. Constructed in 2008, the building is situated on a 1.75-acre lot.
The subject property sits on the west side of FM 2493 near the signalized intersection with FM 2813. Traffic counts exceed 13,000 vehicles per day in front of the property. The property is a half-mile south of Loop 49, Tyler’s newly-finished toll road that serves as a bypass to travelers to avoid heavy downtown traffic. Retailers in the immediate area include Dairy Queen, Subway, Domino’s Pizza, Fresh by Brookshire’s, Cantina Laredo, Texas de Brazil and others.
- Three-Tenant Retail Center Anchored by Whataburger (50% of the Gross Leasable Area)
- Whataburger and Bunny’s Convenience Store have Occupied the Center Since the Building was Constructed
- 85 Percent of the Gross Leasable Area has Triple-Net Leases
- Bank OZK has a Gross Lease | Suite Includes Two Drive-Through Lanes
- The Convenience Store is Eligible for Accelerated Depreciation, Providing Investor Tax Benefits
- The Convenience Store has Exercised Early Two Renewal Options, Extending Their Lease Term an Additional 10 Years with Five Percent Rent Increases Scheduled Every Five Years During the Extension | Lease has a Personal Guarantee
- Located in one of Tyler’s Newest Growth Corridors
- Situated on FM 2493 with Convenient Access to Loop 49
- Highly Affluent Area | One-Mile Average Household Income is $112,200 | Three-Mile Average Household Income is $106,466 | Five-Mile Average Household Income is $93,738
- The City of Tyler serves as a Regional Hub for the East Texas Area | State Officials Estimate that as many as 270,000 People Visit Tyler Each Day