4760 Broadway AveTyler, TX 75703

Property Details for 4760 Broadway Ave

Year built

2022

Lot size

0.65 AC

Property size (Sq ft)

3,510 SF

Property type

Retail space

APN

1-50000-1013-00-011021

APU

150000101300011021

Description

Exceptional investment opportunity: a 3,500 square foot Sleep Number storefront in Tyler, Texas, boasting a brand new 10.1-year corporate net lease with four 5-year renewal options and 10% rent bumps every five years. This 2022-built property sits on a 0.66-acre lot and enjoys a prime location on S Broadway Ave (39,000+ vehicles per day), positioned in a thriving retail corridor alongside major national brands like Best Buy, Barnes & Noble, and Lowe's. The property benefits from excellent traffic counts and superb access, further enhanced by its adjacency to a high-performing Hobby Lobby store. The current lease commenced January 12, 2023, and expires January 31, 2033, leaving 8.2 years remaining. The property generates a strong net operating income (NOI) of $195,000, representing a 6.25% cap rate and a price per square foot of $891.43. The asking price is $3,120,000. Sleep Number, a financially robust company reporting over $2.11 billion in revenue in 2022, provides a corporate guarantee, ensuring tenant stability. This investment offers a compelling combination of strong tenant, prime location, and attractive financial metrics in Tyler, the largest community in East Texas, with a population exceeding 241,750. The property's robust financials and strategic location make it an ideal addition to any diversified portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $1,136,303

  6.5%

  $1,048,895

  7%

  $973,974

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,293,713

  Geo Method

  $2,648,164

• Alternative Use

  Use

  Valuation

  Residential

  $884,782

  Hospitality

  $810,456

  Educational

  $674,290

  Medical

  $697,480

  Retail

  $1,048,895

Location Insight

City

Tyler

County

Smith

State

Texas

Latitude

32.2972

Longitude

-95.3003

CBSA code

46340

CBSA name

TYLER, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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