3800 Whitehurst DrLongview, TX 75602

Property Details for 3800 Whitehurst Dr

Year built

2005

Lot size

3.19 AC

Property size (Sq ft)

10,000 SF

Property type

Showrooms

APN

00300.01085.00000.000000

APU

3000108500000000000

Description

Exceptional investment opportunity: a 15,000-square-foot industrial distribution warehouse in Longview, Texas, currently leased to SRS Distribution, a subsidiary of Home Depot (an investment-grade tenant with an S&P rating of "A"). This net-lease property boasts a strong 6.00% cap rate and a substantial net operating income (NOI) of $233,389. The property features two buildings situated on a 3.186-acre lot, offering ample space and functionality. Built in 2005 and extensively renovated in 2018, 2022, and 2023, the property includes seven loading docks and significant outdoor storage capabilities. The lease, with a remaining term of 5.3 years, includes 3% annual rent increases and two five-year options at fair market value, providing a hedge against inflation. The strategic location at 3800 Whitehurst Dr, Longview, TX 75602, offers excellent access to I-20 and Loop 281, ensuring high visibility and convenient transportation. The property's high occupancy rate (100%) and the tenant's financial strength make this a compelling investment prospect in a rapidly growing Texas market. The asking price is $3,889,820, translating to a price per square foot of $259.32. Recent improvements include approximately 0.80 acres of 3-inch thick type D asphalt paving, roof repairs, new 6-foot security fencing, and a new concrete entryway. The property's APN is 00300.01085.00000.000000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,237,331

  6.5%

  $2,988,305

  7%

  $2,774,855

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,685,791

  Geo Method

  $7,544,628

• Alternative Use

  Use

  Valuation

  Residential

  $2,520,747

  Hospitality

  $2,308,991

  Educational

  $1,921,053

  Medical

  $1,987,121

  Retail

  $2,988,305

Location Insight

City

Longview

County

Harrison

State

Texas

Latitude

32.461

Longitude

-94.6649

CBSA code

30980

CBSA name

LONGVIEW, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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