For Sale
$8,544,000

2675 41St St Paris, TX 75462

High-yield NNN lease, strong tenant.

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
139
This exceptional investment opportunity presents a fee-simple interest in a 14,320-square-foot, free-standing emergency room in Paris, Texas. The property boasts a 15-year NNN lease with Quality Care ER, commencing April 1, 2022, and expiring March 31, 2037, leaving over 12 years remaining. The lease includes a 2% annual rent increase, ensuring consistent growth in cash flow. The property, built in 2017, sits on a 1.83-acre lot and enjoys 100% occupancy since its opening. Generating a NOI of $640,804 and a 7.50% cap rate, this asset offers significant returns. Strategically located on Paris' main beltway (NW Loop 286), the property benefits from high visibility and traffic volume. The tenant, Quality Care ER, provides comprehensive emergency services, including CT scans, ultrasounds, in-house X-rays, and laboratory testing, differentiating it from other urgent care facilities. The property's strong performance is reflected in its 4.9 average Google rating across 432 reviews. Lamar County's robust industrial sector, fueled by recent expansions totaling $91 million in capital investment and 280 new jobs, further enhances the investment's long-term potential. This is a rare opportunity to acquire a stable, high-performing asset in a growing market. The property is adjacent to Paris Towne Center, a major shopping center attracting over 2.2 million annual visitors.

Highlights

  • NNN lease with over 12 years remaining, minimal landlord responsibilities.
  • Excellent location adjacent to Paris Towne Center, a top-performing Texas shopping center with 2.2 million annual visitors.
  • Strong tenant with over 8.0x EBITDAR/Rent coverage.
  • Significant recent economic growth in Lamar County, including $91 million in capital investment and 280 new jobs.
  • Urgent care facility with advanced capabilities including CT scans, ultrasounds, X-rays, and lab testing.
  • Strong local economy supported by major employers like Campbell's and Kimberly-Clark, employing over 1,300.

Property Details for 2675 41St St

Property type
Retail properties, Healthcare properties
Square Feet
14,320 SF
Year Built
2017
Buildings
1
Stories
1
Lot Size (sq. ft)
79,715 SF

Location Insight

City
Paris
County
Lamar
State
Texas
Latitude
33.63370851932
Longitude
-95.50324258907

FAQs

What type of property is this?
Retail property - High-yield NNN lease, strong tenant.
Where is the retail property located?
The property is located at 2675 41St St Paris, TX.
What is the asking price?
The asking price for this property is $8,544,000.
What are key features of this property?
This property features: NNN lease with over 12 years remaining, minimal landlord responsibilities.; Excellent location adjacent to Paris Towne Center, a top-performing Texas shopping center with 2.2 million annual visitors.; Strong tenant with over 8.0x EBITDAR/Rent coverage.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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2675 41St St
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