3201 Goforth RdKilgore, TX 75662

Property Details for 3201 Goforth Rd

Year built

2011

Lot size

1.00 AC

Property size (Sq ft)

7,000 SF

Property type

Industrial properties

APN

2311010000-003-00-04

APU

23110100000030004

Description

This exceptional investment opportunity presents a fee-simple ownership of a 31,210 square foot storefront property in Kilgore, Texas, fully occupied by Herc Rentals under a net lease. The property, comprised of three buildings on seven acres, boasts a strong 6.50% cap rate and a substantial net operating income (NOI) of $183,600. Herc Rentals, a leading equipment rental company with over $3.3 billion in 2023 revenue, occupies the entire space under a lease commencing November 1, 2023, and expiring October 31, 2033, with three five-year renewal options. The lease includes attractive 2% annual rent bumps, providing a hedge against inflation. The property's strategic location at the intersection of E Goforth Road and Fritz Swanson Road, just 0.5 miles from State Highway 135, ensures high visibility and accessibility. Convenient access to major roadways, including TX Route 31, TX Route 42, US Route 259 BUS, and Interstate 20, further enhances its appeal. The property is situated approximately two miles from Kilgore's town center, offering proximity to schools and commercial districts. The strong demographics of the area, with over 22,100 people within a five-mile radius and an average household income exceeding $96,000, contribute to the property's investment potential. Landlord responsibilities are minimal, limited to roof and structure maintenance, making this a truly passive investment opportunity. The asking price is $2,824,615.

• Alternative Use

  Use

  Valuation

  Residential

  $1,764,523

  Hospitality

  $1,616,294

  Educational

  $1,344,737

  Medical

  $1,390,985

  Retail

  $2,091,814

Location Insight

City

Kilgore

County

Gregg

State

Texas

Latitude

32.412

Longitude

-94.8989

CBSA code

30980

CBSA name

LONGVIEW, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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