3870 Eastex Fwy 18,859 SF Office Building Beaumont, TX 77703 $2,900,000 ($153.77/SF) 8.18% Cap Rate

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 3870 Eastex Freeway in Beaumont, Texas, leased to the Texas Commission on Environmental Quality (TCEQ). The subject property consists of approximately 18,859 square feet of flex space and is situated on 2.0 acres of land. The single-tenant asset features pitched-metal roofing, 105 parking spaces, and a building coverage ratio of 22 percent. Conveniently located along U.S. Highway 96, the property has premier
visibility with frontage on Eastex Freeway. As the primary environmental agency for the state of Texas, TCEQ has occupied the subject property since 1991, increasing the likelihood of lease renewal. TCEQ is currently signed to a gross lease through August 2029 at $17.92 per square foot. With annual escalations tied to the Consumer Price Index, this sale offers commercial real estate investors a rare hedge against inflation with a tenant that provides strong stability and credit.
Beaumont is located in Jefferson County along the Neches River and serves as the county seat. The city is part of the Beaumont- Port Arthur metropolitan statistical area and located 85 miles east of Houston. Beaumont’s economy is heavily dependent upon oil refining and is home to the nation’s third-largest oil refinery, owned and operated by ExxonMobil Corporation. The oil industry in Beaumont is supported by the deep-water Port of Beaumont, which ranks as the fourth busiest port in the United States
according to the American Association of Port Authorities. The port is also the busiest military port in the world for processing United States military equipment. Beaumont is home to Lamar University, a public university that is part of the Texas State University System. The university has an estimated enrollment of 17,000 students.