Loop 323 Three-Tenant Retail Center
Description
2416 E. Southeast Loop 323 is a small-format multi-tenant retail investment offered for sale in Tyler, Texas. The property contains approximately 2,800 square feet in a single-story building on an 8,276-square-foot site and is currently 100% occupied by three tenants. At an asking price of $450,000, the property is positioned for a private investor looking for an occupied retail asset with existing income rather than a vacant building requiring lease-up after acquisition.
Current net operating income is reported at $36,992, producing a marketed capitalization rate of 8.22% at the asking price. The three spaces are leased on a triple-net basis, and the property information indicates that rent increases are incorporated into the existing leases. Each of the three occupants has operated from the property for more than 12 years. That operating history gives a prospective purchaser an established tenancy record to evaluate alongside the remaining lease terms, tenant financial strength, rental rates, and other lease provisions during due diligence.
The building was constructed in 1976 and is configured as three retail units within one approximately 2,800-square-foot structure. The site provides 16 parking spaces, equal to approximately 5.71 spaces per 1,000 square feet, and Crexi identifies the property as C-1 zoned. For an investor considering a smaller multi-tenant asset, the compact building and three-suite configuration provide multiple income streams without the scale of a larger shopping center.
The property fronts E. Southeast Loop 323 just east of Troup Highway and between the Troup Highway and University Boulevard areas. Current marketing information reports approximately 41,000 vehicles per day nearby on Loop 323. That corridor exposure gives the three retail spaces a visible position along one of Tyler's established commercial routes while also connecting the property to nearby retail, office, medical, and residential areas.
The current marketing package also identifies existing rents as below market. If that assessment is confirmed through lease review and market-rent due diligence, future lease adjustments could provide an additional avenue for income growth beyond the property's current NOI. With full occupancy, long-standing tenants, NNN leases, scheduled rent increases, and existing Loop 323 frontage, the property should be considered primarily by investors seeking current cash flow from a manageable East Texas retail asset with potential for longer-term rent growth.
Property Highlights
- 2,800 SF multi-tenant retail building
- Offered at $450,000
- 8.22% marketed cap rate
- $36,992 current NOI
- 100% occupied
- Three retail tenants
- Each tenant has operated at the property for more than 12 years
- Triple-net lease structure
- Rent increases incorporated into existing leases
- Current rents marketed as below market
- 8,276 SF site, approximately 0.19 acres
- 16 on-site parking spaces
- Approximately 5.71 parking spaces per 1,000 SF
- C-1 zoning
- Built in 1976
- E. Southeast Loop 323 frontage
- Approximately 41,000 vehicles per day reported nearby
- Just east of Troup Highway
- Convenient access toward University Boulevard
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