3915 University Blvd | Tyler, TX 75701
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3915 University Blvd
Tyler, TX 75701
Hangry Joe's · Retail Property For Sale
Investment Highlights
- New 10-Year Lease | Absolute NNN Lease
- Newly Renovated
- Strength of Franchisee & Lease Guarantor
- 5% Rent Increase in Year 6 | Growing National Restaurant Concept
- Adjacent to University
- Strong Texas Market
Executive Summary
Northmarq, on behalf of Ownership, is pleased to offer for sale the Fee Simple ownership interest in 3915 W. University Blvd, Tyler, TX 75071, a newly renovated restaurant in Tyler, the largest city in East Texas, which serves as an economic and medical hub.
The building was originally constructed in 2014 at 3,275 SF on 0.94 acres. The Property has excellent visibility with good signage. Across the street from the Property is the University of Texas at Tyler, with an enrollment of 10,000 students, including the recently established School of Medicine.
The Tenant is an expanding franchisee operator of a rapidly growing restaurant concept, Hangry Joe's. Featuring Nashville hot chicken, chicken sandwiches, and wings, Hangry Joe's has 65 established locations with 51 coming soon across 17 states and internationally. The Lease includes dual guarantees by the franchisee entity, HJ TEXOMA OPS LLC and personal. The lease is absolute NNN. The rent commencement on June 9, 2024 kicks off the initial 10-year lease term which includes a 5% rent increase scheduled at year 6.
The building was originally constructed in 2014 at 3,275 SF on 0.94 acres. The Property has excellent visibility with good signage. Across the street from the Property is the University of Texas at Tyler, with an enrollment of 10,000 students, including the recently established School of Medicine.
The Tenant is an expanding franchisee operator of a rapidly growing restaurant concept, Hangry Joe's. Featuring Nashville hot chicken, chicken sandwiches, and wings, Hangry Joe's has 65 established locations with 51 coming soon across 17 states and internationally. The Lease includes dual guarantees by the franchisee entity, HJ TEXOMA OPS LLC and personal. The lease is absolute NNN. The rent commencement on June 9, 2024 kicks off the initial 10-year lease term which includes a 5% rent increase scheduled at year 6.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,275 SF
Building Class
B
Year Built/Renovated
2014/2024
Price
$1,498,000
Price Per SF
$457
Cap Rate
7%
NOI
$104,796
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.94 AC
Zoning
C-1 - Commercial
Parking
41 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
175 FT on University Blvd
Amenities
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Restaurant
- Drive Thru
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 1-50000-1443-06-002000 | Improvements Assessment | $1,122,102 |
| Land Assessment | $267,365 | Total Assessment | $1,389,467 |
PROPERTY TAXES
Parcel Number
1-50000-1443-06-002000
Land Assessment
$267,365
Improvements Assessment
$1,122,102
Total Assessment
$1,389,467
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