Miscellaneous

Verizon (Corporate Store)

4125 Dowlen Rd, Beaumont, TX 77706

Listing Price: $2,124,000

Cap Rate
5.50%
Tenant Name
Verizon
Years Remaining On Lease
9.70
Gross SF
6,500
Guarantor
Corporate Guarantee
Rentable SF
6,500
Price/Gross SF
$326.77
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$17.97

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a triple-net lease Verizon in Beaumont, Texas. The property consists of a 6,500-square foot, freestanding building that sits on approximately 0.64 acres of land. There are approximately 9.6 years remaining on the current lease term, with a 10 percent rental escalation scheduled in 2025. Verizon signed a ten-year lease extension in 2020, showing their commitment to the site, which they have operated at for more than 13 years. The property is an outparcel to a Walmart Supercenter and has excellent access and visibility on Dowlen Road, where traffic counts exceed 22,793 vehicles per day. The area is dense with more than 117,080 residents within a five-mile radius. Verizon is in a dense retail corridor and is surrounded by numerous power centers, as well as Parkdale Mall. Surrounding retailers in the immediate area include Walmart Supercenter, Lowe’s, Kohl’s. Target, Hobby Lobby, Ross Dress for Less, Best Buy, H-E-B plus!, Chick-fil-A, Panera Bread, Raising Cane’s, Chipotle and many more.

Investment Highlights

  • Opportunity to Acquire a Triple-Net Lease Verizon in a Main Beaumont Retail Corridor
  • Walmart Supercenter Outparcel Near Parkdale Mall (1.3 Million SF of Retail Space)
  • 13-Year Operating History - Verizon Signed a 10-Year Lease Extension in 2020
  • Tenant is Paying Low Rent, Relative to Other Verizon Stores
  • Excellent Access and Visibility on Dowlen Road, Where Traffic Counts Exceed 22,793 Vehicles per Day
  • Investment Grade Tenant - Verizon has a Standard & Poor's rating of BBB+ and is a Fortune 500 Company

Exclusively Listed By

Miscellaneous

Verizon (Corporate Store)

Listing Price: $2,124,000

Cap Rate
5.50%
Tenant Name
Verizon
Years Remaining On Lease
9.70
Gross SF
6,500
Guarantor
Corporate Guarantee
Rentable SF
6,500
Price/Gross SF
$326.77
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$17.97

Investment Highlights

  • Opportunity to Acquire a Triple-Net Lease Verizon in a Main Beaumont Retail Corridor
  • Walmart Supercenter Outparcel Near Parkdale Mall (1.3 Million SF of Retail Space)
  • 13-Year Operating History - Verizon Signed a 10-Year Lease Extension in 2020
  • Tenant is Paying Low Rent, Relative to Other Verizon Stores
  • Excellent Access and Visibility on Dowlen Road, Where Traffic Counts Exceed 22,793 Vehicles per Day
  • Investment Grade Tenant - Verizon has a Standard & Poor's rating of BBB+ and is a Fortune 500 Company

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a triple-net lease Verizon in Beaumont, Texas. The property consists of a 6,500-square foot, freestanding building that sits on approximately 0.64 acres of land. There are approximately 9.6 years remaining on the current lease term, with a 10 percent rental escalation scheduled in 2025. Verizon signed a ten-year lease extension in 2020, showing their commitment to the site, which they have operated at for more than 13 years. The property is an outparcel to a Walmart Supercenter and has excellent access and visibility on Dowlen Road, where traffic counts exceed 22,793 vehicles per day. The area is dense with more than 117,080 residents within a five-mile radius. Verizon is in a dense retail corridor and is surrounded by numerous power centers, as well as Parkdale Mall. Surrounding retailers in the immediate area include Walmart Supercenter, Lowe’s, Kohl’s. Target, Hobby Lobby, Ross Dress for Less, Best Buy, H-E-B plus!, Chick-fil-A, Panera Bread, Raising Cane’s, Chipotle and many more.

Exclusively Listed By

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