3084 Eastman Rd, Longview, TX 75605

4,672 SF | Retail Building | Longview, TX 75605 | $2,156,000 ($461/SF) | 6.50% Cap Rate

Asking Price $2,156,000

Property Type
Retail
Square Feet
4,672 SF
Price / Square Foot
$461

Listing Contacts

Jeff Gates
Ivy Kwon

Property Overview

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN subleased, Sushi Shima investment property located in Longview, Texas. The tenant, Sushi Shima has almost 8 years remaining on a 107 month (8.9 years) sublease with 3 (5-year) options to extend, demonstrating their commitment to the site. The sublease features a 10% rental increase at the beginning of Year 4 (June 1, 2026) and at the beginning of each option period, steadily growing NOI and hedging against inflation. The sublease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor. The site is an outparcel at the Target anchored Longview Towne Crossing. Longview Towne Crossing’s tenants include: Target, Kohl’s, PetSmart, Five Below, Dollar Tree, Ulta Beauty, Old Navy, McDonald’s, Starbucks, Panda Express, Lane Bryant, and more.
The subject property is strategically located near the intersection of N. Eastman Road (U.S. Highway 259) and E. Hawkins Parkway, averaging a combined 38,000 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large pylon sign situated along N. Eastman Road. The site is located in the heart of an immense retail corridor, the asset is within close proximity to several prominent shopping centers including the Longview Mall (743,000 SF) and The Market Place (157,134 SF). Nearby national/credit tenants include Walmart Supercenter, The Home Depot, Lowe’s Home Improvement, Sam’s Club, Tractor Supply, Burlington, and more, significantly increasing consumer draw to the immediate trade area and promoting crossover store exposure for the site. In addition, the property is positioned within a hospitality cluster comprised of 15+ hotels, providing a steady, consistent consumer base from which to draw. The 5-mile trade area is supported by nearly 71,000 residents and 45,000 daytime employees with an average household income of $86,122.

Property Details

Class
B
Year Built
2011
Stories
1
Property Subtype
Freestanding
Lot Size (sq. ft)
40,075 SF

Highlights

  • Apx. 8 Years Remaining | Outparcel at Target Anchored Center | Personal Guaranty | Options to Extend | Scheduled Rent Increases
  • Absolute NNN Sublease | Fee Simple Ownership | Zero Landlord Responsibilities
  • Dense Retail Corridor | Near Prominent Shopping Centers | Nearby National/Credit Tenants | Excellent Visibility and Access
  • Strong Demographics In 5-Mile Trade Area

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