2117 Tx-256 Loop Palestine, TX 75801
- Retail properties
- 25,064 SF
- 2.54 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2117 Tx-256 Loop
- Year built
- 1999
- Lot size
- 2.54 lot acres
- Property size
- 25,064 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a fee-simple, ±25,064 square foot grocery store, 100% occupied by ALDI, located at 2117 TX-256 Loop, Palestine, TX 75801. The property sits on a 2.54-acre lot and boasts a newly renovated building (2024) constructed in 1999. The current lease, commencing July 1, 2024, and expiring July 1, 2034, offers a strong remaining term of 9.6 years. The lease is a Net Lease (NN) structure with six, five-year renewal options. Rent increases are built into the lease, occurring every five years in the primary term and option periods, providing consistent income growth. The property's strong financial performance is reflected in its Net Operating Income (NOI) of $181,714, resulting in a 5.25% capitalization rate. The asking price is $3,462,000, translating to $138.13 per square foot. This investment offers a compelling combination of a strong tenant, a favorable lease structure, and a desirable location in a strategically located retail corridor, making it an attractive addition to any portfolio. The property's recent renovation ensures long-term operational efficiency and aesthetic appeal.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Palestine
- County
- Anderson
- State
- Texas
- Longitude
- -95.6124
- Latitude
- 31.7355
