Ivan Smith Portfolio - Northeast Texas

Multiple Greenville,Paris,Emory ,  75801-6933

Ivan Smith Portfolio - Northeast Texas - alternatives for sale

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Overview



JLL is pleased to offer for sale the fee-simple interest in the single-tenant Ivan Smith Furniture Portfolio (the “Portfolio” or “Properties”) which is comprised of three corporate stores. Situated throughout Northeast Texas, the Portfolio consists of 54,166 square feet possessing approximately 5.3 years of average lease term remaining on a NN lease structure. With an average rent of $6.23 PSF across the Portfolio, the tenant’s rent is nearly 50% below market. The Portfolio presents investors with the opportunity to purchase a well-established portfolio, significantly below replacement cost, of well-established Ivan Smith Furniture stores which have a strong foothold in their respective east Texas markets. The assets are available for sale individually or as a portfolio. 

Investment highlights


  • 50% below market rents offer future mark-to-market upside
  • Corporate locations with 5.1 years of WALT remaining
  • Situated amongst national retailers within regional commercial corridors
  • Homogenous lease structure across the entire portfolio
General
Property type Alternatives
Tenure type Sale/Purchase
Property address Multiple, Greenville,Paris,Emory N/A
Building size 54,166  ft2
Financial
Price $3,751,067
Cap rate 9.00%
Current NOI $337,596.00
Lease

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