1002 Texas BlvdTexarkana, TX 75501

Property Details for 1002 Texas Blvd

Year built

2001

Lot size

5.92 AC

Property size (Sq ft)

100,000 SF

Property type

Commercial real estate

APN

8381

APU

8381

Description

This exceptional value-add investment opportunity presents a 5-story, Class A, 82,380 square foot medical office building situated on a 5.92-acre lot in Texarkana, Texas. Currently at 46.21% occupancy, the property offers significant upside potential. The building, constructed in 2001, benefits from a prime location at 1002 Texas Blvd, just blocks from the Central Business District and directly adjacent to Wadley Regional Medical Center. The impending acquisition of Wadley Regional Medical Center by Christus Health, a major healthcare system with over 60 hospitals and 600 facilities, presents a substantial credit enhancement and significant growth opportunity for the property. The existing master lease is terminating, allowing for the negotiation of new leases with a diverse mix of established medical tenants, including The Women's Specialists, The Medical Specialists, Vitreo-Retinal Associates, Surgery Specialists, Texarkana Cardiology Association, Cardiology Specialists, Pathology, and Obstetrics & Gynecology. Texarkana's strategic location as a regional hub for commerce, healthcare, and transportation, coupled with its proximity to the TexAmericas Center, a top-ranked industrial park, further enhances the investment appeal. This property offers a rare chance to acquire a well-located medical office building below replacement cost in a thriving healthcare market with substantial potential for increased occupancy and rental income. The property's multi-tenant structure and the presence of established medical practices provide a strong foundation for future growth and profitability. The acquisition presents a compelling opportunity for investors seeking significant returns in a dynamic and expanding healthcare market.

• Alternative Use

  Use

  Valuation

  Residential

  $25,207,474

  Hospitality

  $23,089,910

  Educational

  $19,210,534

  Medical

  $19,871,214

  Retail

  $29,883,052

Location Insight

City

Texarkana

County

Bowie

State

Texas

Latitude

33.4282

Longitude

-94.049

CBSA code

45500

CBSA name

TEXARKANA, TX-TEXARKANA, AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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