930 N Fredonia St
Longview, TX 75601
Industrial Property For Sale

CAP RATE: 9% NET INCOME: $48,416.38 SALE PRICE: $535,000 TENANT HIGHLIGHTS: The Subject Property is located in the heart of Longview providing for ease of accessibility and reachability for the general public and contractors alike. This differs from the majority of industrial buildings which are found in the outlying industrial areas of the region. The perfect combination of a convenient retail location with a warehouse and yard within its footprint provides an efficient operation center for its tenant. This offering is a single tenant, 100% leased, retail/industrial property. Morrison Supply Company, A MORSCO Brand Company, is a multi-state plumbing supply business with a history which reaches back to 1917 providing plumbing, HVAC, PVF and waterworks supplies with more than 100 wholesale locations and 30 showrooms throughout Texas, Louisiana, Oklahoma, Kansas, and New Mexico. The Longview store has been in this location since 1997 and recently renewed its lease for another five years. Tenant has made improvements to the property, at its expense, with an estimated value of almost $350,000 in recent years. Tenant is expected to remain in this location for many years to come. Current term through September 30, 2022. PROPERTY HIGHLIGHTS: • Zoned Commercial • All City Services And Utilities Available • Land Size: 3.1282 Acres • Improvements: Approximately 24,500 Square Feet Of Office, Sales, Display & Warehouse Spaces • Parking: Concrete, Asphalt & Graveled Yard • Construction Type: Ribbed Metal Exterior Walls With Metal Roof, Steel Trusses And Concrete Block Walls LEASE RECAP: TERM: 10-01-1997 thru 9-30-2022 MONTHLY RENTAL: $5,194.00/month TAXES & INSURANCE: Tenant pays any increases over Base Year 2009 Taxes and Insurance UTILITIES: Tenant pays all utilities REPAIRS/MAINTENANCE: Landlord shall keep the foundation, roof, and exterior walls of the building situated on the demised premises in good repair and condition, except that Lessee shall repair any damage caused by Lessee’s negligence or default. Tenant shall be responsible for maintenance and repairs of all items except items expressly required to be made by Landlord.