Tyler, TX - Chevron

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Chevron investment property located in Tyler, Texas. The tenant, Chevron, recently signed a brand new 15-year lease, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The Chevron is located at the signalized, hard corner intersection of Chandler Hwy./Sate Highway 31 and State Highway 323, combining to average over 54,200 vehicles passing by daily. State Highway 323, is the major retail thoroughfare serving the city of Tyler. The Chevron is located directly across from Westwood Shopping Mall,
a 50,000+ square foot shopping mall that features national/credit tenants including Little Caesers and Taco Bell pads. The asset is located less than 1-mile from a 100,000+ square foot Walmart Supercenter that also features a Murphy’s USA. In addition, the property is in the center of a primary retail corridor with other nearby national/credit tenants including a IHOP, McDonald’s, ALDI, Starbucks, Sonic, Shell, Dollar Tree, and more, further increasing consumer traffic to the site. The asset is located less than 3-miles from Tyler Pounds Regional Airport the local airport that features over 133 flights per day, including 4 commercial flights, all of which being commercial flights to DFW Airport. The 5-mile trade area is supported by a population of over 90,404 and 79,471 employees with an average household income of
$80,505