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Warehouse

3755 Milam St

3755 Milam St, Beaumont, TX 77701

Listing Price: $620,000

Cap Rate
13.26%
Gross SF
17,600
Price/Gross SF
$35.23
Lot Size
1.01 acres
Year Built
1978
Rentable SF
17,600

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 3755 Milam Street in Beaumont, Texas. The subject property consists of approximately 17,600 square feet of warehouse space and is situated on .88 acres of land. The fully leased asset features multiple tenants with staggered lease terms offering stability for investors. National tenant GSA occupies 7,100 square feet at the property and has a 97 percent renewal average nationwide. Separated by just a city block, the property has proximate access to Interstate 10 . With the lack of industrial real estate being developed in the area, the property will be sought after for years to come.

The property is located within the Downtown Beaumont submarket. With 4.9 million square feet of industrial space, the submarket accounts for a sizable chunk of Beaumonts industrial inventory. Despite the economic impact of the pandemic, the average rental rate grew by 3.3 percent over the past year, which is right in line with the decade-long annual average. With no industrial properties under construction, there are no supply-side pressures on vacancy or rent in the near-term. Industrial properties traded with regularity over the past 12 months, consistent with the generally high level of activity over the past three years (CoStar).

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. The Port of Beaumont, a deep-water port located near the mouth of the Neches River, is 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.

Investment Highlights

  • Fully Leased Up Property with Multiple Tenants for Staggered Lease Terms
  • GSA Tenant Within 7,100 Square Feet with a 97% Renewal Average Nationwide
  • Property is in Proximate Access to Interstate 10
  • Rents Have Steadily Increased Within the Last 12 Months by 3% Despite the Pandemic
  • Lack of Real Estate Being Developed, Property Will be Sought After for Years to Come

Exclusively Listed By

Financing By

Listing Price: $620,000

Cap Rate
13.26%
Gross SF
17,600
Price/Gross SF
$35.23
Lot Size
1.01 acres
Year Built
1978
Rentable SF
17,600

Investment Highlights

  • Fully Leased Up Property with Multiple Tenants for Staggered Lease Terms
  • GSA Tenant Within 7,100 Square Feet with a 97% Renewal Average Nationwide
  • Property is in Proximate Access to Interstate 10
  • Rents Have Steadily Increased Within the Last 12 Months by 3% Despite the Pandemic
  • Lack of Real Estate Being Developed, Property Will be Sought After for Years to Come

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 3755 Milam Street in Beaumont, Texas. The subject property consists of approximately 17,600 square feet of warehouse space and is situated on .88 acres of land. The fully leased asset features multiple tenants with staggered lease terms offering stability for investors. National tenant GSA occupies 7,100 square feet at the property and has a 97 percent renewal average nationwide. Separated by just a city block, the property has proximate access to Interstate 10 . With the lack of industrial real estate being developed in the area, the property will be sought after for years to come.

The property is located within the Downtown Beaumont submarket. With 4.9 million square feet of industrial space, the submarket accounts for a sizable chunk of Beaumonts industrial inventory. Despite the economic impact of the pandemic, the average rental rate grew by 3.3 percent over the past year, which is right in line with the decade-long annual average. With no industrial properties under construction, there are no supply-side pressures on vacancy or rent in the near-term. Industrial properties traded with regularity over the past 12 months, consistent with the generally high level of activity over the past three years (CoStar).

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. The Port of Beaumont, a deep-water port located near the mouth of the Neches River, is 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.

Exclusively Listed By

Financing By

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