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Beaumont, TX

Greens Retail/Warehouse Park

Address:
6640 Eastex Freeway, Beaumont, TX 77708
Property Type:
Multi Tenant
Price:
$6,900,000
Cap Rate:
6.76% cap
NOI:
$466,513
Square Feet:
94,635 sqft
Lot Size:
9.49 acres
Price Per Square Foot:
$72.91
Year Built:
1978
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Investment Highlights

Investment Highlights

Investment Highlights

  • 94,635 Square-Foot Retail/Industrial Flex Center | Complementary Mix of Retail and Warehouse Space
  • 85% of the Gross Leasable Area Has Triple-Net Leases
  • Landlord Reports Harbor Freight Invested $700,000 in Tenant Improvements
  • Average Rents are Well Below Market Rates
  • Building is Situated on a Large 9.49-Acre Lot | Paved Parking | Some Parking Spaces are Covered
  • Well-Positioned an Extremely Dense Retail Trade Corridor Along U.S. Highway 287/Eastex Freeway, the City’s Major North/South Artery | Traffic Counts are Approximately 78,300 Vehicles per Day
  • Catty Corner from Parkdale Mall | Anchored by Dillard’s, JCPenney, Dick’s Sporting Goods, and Stage
  • Hundreds of Other National and Regional Retailers in the Neighboring Area, Including Target, Academy Sports and Outdoors, Barnes & Noble, Walmart, Lowe’s Home Improvement, Big Lots, Burlington, Boot Barn, Dollar Tree, Best Buy, Kohl’s and Hobby Lobby
  • Total Population Exceeds 80,840 Residents Within Five Miles With an Average Household Income of $76,523
  • The City is Located Within the Beaumont-Port Arthur MSA in Southeast Texas | 85 Miles East of Houston | Serves as the County Seat of Jefferson County
  • Home to Lamar University, a Member of the Texas State University System | Enrollment is Approximately 17,488 Students (Fall 2020)

Investment Overview

Greens Retail/Industrial Park is a 94,635-square foot, retail/industrial flex center located in an extremely dense retail trade corridor in Beaumont, Texas. The center is currently 100 percent occupied, and 85 percent of the gross leasable area has triple-net leases. The tenant base is a complementary of retail and warehouse tenants including Harbor Freight, Goodman Distribution, Niklem Kids Academy, Golden Triangle Sports Academy, Sam’s Furniture, Sysco, Copoltex, and Hooked Recovery. Greens Retail/Industrial Park is situated on a large 9.49-acre parcel with a large paved parking lot and some covered parking spaces.

The subject property is located along U.S. Highway 287/Eastex Freeway, the city’s major north/south artery with excellent freeway visibility. Traffic counts in front of the property
exceed approximately 78,300 vehicles per day. Greens Retail/Industrial Park is well positioned in a dense retail trade area near hundreds of national retailers including Target, Academy Sports and Outdoors, Barnes & Noble, Walmart, Lowe’s Home Improvement, Big Lots, Burlington, Boot Barn, Dollar Tree, Best Buy, Kohl’s, Hobby Lobby, and many more. The center is catty corner from Parkdale Mall. The mall features more than 130 tenants and is anchored by Dillard’s, JCPenney, Dick’s Sporting Goods, and Stage. The property benefits from strong demographics with 80,840 residents within five miles and an average household income of $76,523.

Beaumont is located in Jefferson County along the Neches River and serves as the county seat. The city is part of the Beaumont-Port Arthur metropolitan statistical area located 85 miles east of Houston. The Port of Beaumont, a deep water port located near the mouth of the Neches River, is the fourth busiest port in the United States according to the American Association of Port Authorities. The port is also the busiest military port in the world for processing United States military equipment. Beaumont is home to Lamar University, a public university that is part of the Texas State University System. The university has an estimated enrollment of 17,000 students.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2021 Marcus & Millichap. All rights reserved. (Activity ID: ZAC0060336)