lake park center 1950 nnw loop 323, tyler, tx 75702...1 acre 12,000 sf 2015 loop 323 20,952 burns...

Lake Park Center1950 NNW Loop 323, Tyler, TX 75702

burns-commercial.com

Offered at $1,050,000

BLAIR [email protected]

PHILIP [email protected]

Burns Commercial Properties909 ESE Loop 323, Suite 650Tyler, TX 75701 • Building Completed in 2015

• Located on High-Traffic Loop 323• Income Producing Property

• 12,000 SF GLA• 75% Leased• Attractive Rates

Executive Summary

burns-commercial.com BLAIR [email protected]


Sale Price:

Cap Rate:

NOI:

Lot Size:

Building Size:

Year Built:

Frontage:

Traffic Count:

PROPERTY STATISTICS

$1,050,000

6.5%

$68,970

1 Acre

12,000 SF

2015

Loop 323

20,952

Burns Commercial Properties proudly presents for sale Lake Park Retail Center in Tyler, Texas. This multi-tenant building includes 12,000 square feet of leasable area. With over 275 feet of frontage on Loop 323, the center provides ample visibility for retail tenants. Currently, there are five tenants occupying 75% of the leasable area. Nearby retailers include: Atwood’s, Interstate Batteries, Starbucks, Sonic, Super One Foods, and Walmart.

PROPERTY OVERVIEW

LOCATION OVERVIEW

Lake Park Retail Center is located along Loop 323, a 19.7 mile loop encircling the City of Tyler. Loop 323 intersects State Highways 31, 64, 69, and 110 and is the major connector for traffic around Tyler.

• 2015 Construction• Located on Loop 323• Income Producing Property

• 12,000 SF GLA• 75% Leased• Attractive Rates

PROPERTY HIGHLIGHTS

Regional Map


$2,395,000 - 8% CAP



1950 NNW LOOP 323

Aerial


$2,395,000 - 8% CAP



Local Traffic Counts


$2,395,000 - 8% CAP



Demographics - Population


$2,395,000 - 8% CAP



Radius 1 Mile 3 Mile 5 Mile

Population:

2023 Projection 4,302 31,190 71,118

2018 Estimate 4,135 29,730 67,756

2010 Census 4,113 28,135 63,931

Growth 2018-2023 4.04% 4.91% 4.96%

Growth 2010-2018 0.53% 5.67% 5.98%

2018 Avg Household Income $43,296 $44,718 $55,308

2018 Med Household Income $41,294 $36,082 $41,729

2018 Households by Household Inc:

<$25,000 352 3,553 7,367

$25,000 - $50,000 527 3,018 6,313

$50,000 - $75,000 265 1,530 3,796

$75,000 - $100,000 58 893 2,832

$100,000 - $125,000 42 318 1,247

$125,000 - $150,000 26 171 671

$150,000 - $200,000 0 73 345

$200,000+ 0 74 501

Demographics – Consumer Spending


$2,395,000 - 8% CAP



2018 2023

Radius 1 Mile 3 Mile 5 Mile 1 Mile 3 Mile 5 Mile

Total Specified Consumer Spending ($) 25,738 186,332 485,218 29,396 215,050 559,058

Apparel:

Total Apparel 1,874 13,759 33,189 2,043 15,196 36,726

Women's Apparel 668 4,974 12,379 740 5,558 13,780

Men's Apparel 340 2,578 6,479 381 2,908 7,273

Girl's Apparel 188 1,336 3,030 195 1,421 3,281

Boy's Apparel 128 904 2,055 132 965 2,233

Infant Apparel 103 767 1,790 108 814 1,925

Footwear 447 3,200 7,457 488 3,530 8,234

Entertainment, Hobbies & Pets:

Total Entertainment, Hobbies & Pets 1,911 14,186 37,808 2,028 15,256 40,682

Entertainment 335 2,473 6,172 353 2,653 6,641

Audio & Visual Equipment/Service 1,051 7,851 20,061 1,123 8,467 21,638

Reading Materials 33 279 1,092 37 311 1,182

Pets, Toys, Hobbies 491 3,583 10,483 515 3,825 11,221

Personal Items 1,831 13,593 36,412 2,048 15,384 41,019

Food & Alcohol:

Total Food & Alcohol 7,476 54,074 138,323 8,502 62,199 158,888

Food at Home 4,661 33,383 81,430 5,315 38,484 93,767

Food Away From Home 2,474 18,186 49,458 2,811 20,923 56,898

Alcoholic Beverages 340 2,505 7,434 376 2,791 8,222

Household:

Total Household 3,281 23,926 64,920 3,529 26,045 70,729

House Maintenance & Repair 844 5,376 13,416 907 5,832 14,572

Household Equipment & Furnishings 1,302 9,866 26,968 1,373 10,531 28,779

Household Operations 958 7,249 19,706 1,055 8,091 22,058

Housing Costs 178 1,435 4,830 194 1,591 5,320

Transportation and Maintenance:

Health Care:

Total Health Care 1,369 9,449 25,822 1,606 11,196 30,332

Medical Services 704 4,758 13,318 823 5,632 15,665

Prescription Drugs 538 3,756 10,016 632 4,449 11,728

Medical Supplies 128 935 2,488 151 1,115 2,938

Tenant Profiles


$2,395,000 - 8% CAP



The companies comprising the Farmers Insurance Group of Companies make up one of the country's largest insurers of vehicles, homes and small businesses and provide a wide range of other insurance and financial services products.

Southern Sky Smoke Emporium is a local purveyor of electronic cigarettes, e-liquids, and numerous other vaping products.

Gold Rush Pawn is a family-owned and operated pawnbroker, offering secured loans, with personal property used as collateral. Gold Rush accepts a variety of items including jewelry, home audio equipment, power tools, and firearms.

Lake Park Village is a townhome community located adjacent to and west of Lake Park Center. This office is used for collection of rent payments from the residential tenants of Lake Park Village and is operated by the current owner of Lake park Center.

NINJUTSU is a locally-owned and operated martial arts training studio. NINJUTSU occupies the 1500 SF end cap on the south side of the building.

lake park center 1950 nnw loop 323, tyler, tx 75702...1 acre 12,000 sf 2015 loop 323 20,952 burns...

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