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Mazzio's Pizza 405 W Front St 2,650 SF Retail Building Tyler, TX 75702 $707,000 ($266.79/SF) 6.71% Cap Rate
Investment Highlights
- Recent 5 year lease extension
- Absolute NNN lease with 10% fixed rent increase every 5 year lease option
Executive Summary
Originally constructed in 1979 as a Mazzio's Pizza Restaurant, Mi Mexico Lindo subleased this property back in January 2017 and in January 2026 executed their 2nd five year lease option. If the final 5 year lease option gets exercised, then a 10% fixed rent increase is scheduled to occur. This is an absolute NNN lease and tenant's current monthly rent is just $1.50/sq. ft. NNN. Building is equipped with a drive thru lane.
Mi Mexico Lindo is a family operated restaurant chain with 3 locations in Tyler, Texas. The city of Tyler is the county seat of Smith County and has a reported city population of 106,000. There is a reported 61,809 residents within a 3-mile radius of the subject property with an Average Household Income of $70,946 within this same radius. Tyler is famously known as the "Rose Capital of America" due to its large rose industry.
Mi Mexico Lindo is a family operated restaurant chain with 3 locations in Tyler, Texas. The city of Tyler is the county seat of Smith County and has a reported city population of 106,000. There is a reported 61,809 residents within a 3-mile radius of the subject property with an Average Household Income of $70,946 within this same radius. Tyler is famously known as the "Rose Capital of America" due to its large rose industry.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,650 SF
Building Class
C
Year Built/Renovated
1978/2017
Price
$707,000
Price Per SF
$266.79
Cap Rate
6.71%
NOI
$47,436
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.53 AC
Opportunity Zone
Yes
Zoning
DBAC - Current zoning is in the Business, Arts, Culture District ("DBAC")
Parking
20 Spaces (7.55 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
Nearby Major Retailers
Property Taxes
| Parcel Number | 1-50000-0049-00-034000 | Improvements Assessment | $200,450 |
| Land Assessment | $116,740 | Total Assessment | $317,190 |
Property Taxes
Parcel Number
1-50000-0049-00-034000
Land Assessment
$116,740
Improvements Assessment
$200,450
Total Assessment
$317,190
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Mazzio's Pizza | 405 W Front St
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