For Auction
Asset Snapshot
Investment Highlights
Offering Summary
Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, 711 Estes Drive is a 25,850 SF multi-tenant retail strip center on 6.85 acres in Longview, Texas. Built in 2006 and 81% occupied, the center is leased on a NNN basis to a mix of national and local tenants, including Dollar Tree, Domino's, Cato, It's Fashion, Vapor Maven and Nails by Cindy. Dollar Tree occupies 9,550 SF, or 37% of GLA, with two 5-year renewal options at $10.00 and $10.50/SF, while Domino's is leased through 2034 with 2% annual increases and Nails by Cindy, in place since 2006, through 2032. The primary value-add path is the lease-up of three vacant 1,600 SF suites totaling 4,800 SF; leasing them at $12/SF NNN adds $57,600 in base rent toward a projected Year 2 NOI of $295,269. Cato and It's Fashion also pay percentage rent of 3% of gross sales above set breakpoints. At closing, the seller will credit the buyer the rent differential to the 1/01/2027 base rent of $240,296. The center is surrounded by Walmart, AutoZone, Starbucks and Anytime Fitness, sits next to Eastman Chemical's manufacturing complex of more than 1,500 employees, and is down the street from a 360,000 SF Sysco distribution center, with access to Interstate 20 between Dallas and Shreveport.
Due Diligence
Location
The center sits at 711 Estes Drive in Longview, Texas, just south of Interstate 20 along Estes Parkway, about 130 miles east of Dallas. Neighbors include Walmart, AutoZone and Anytime Fitness, while Eastman Chemical's plant, with 1,500+ employees, operates next door and Sysco runs a 360,000 SF distribution center down the street, placing the asset within a retail and industrial node.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
