Current Use by Public Records
- Warehouses
Property Details for 1612-1630 Whaley St
- Year built
- 1980
- Lot size
- 3.90 lot acres
- Property type
- Warehouses
- Property subtype
- Office Spaces
Description
This exceptional investment opportunity presents a 38,200 square foot, multi-tenant industrial property located at 1612-1630 E Whaley St, Longview, Texas, 75601. The property, situated on a 3.896-acre lot, comprises a single, one-story building constructed in 1980 and extensively renovated in 2012, 2023, and 2024. Currently boasting 100% occupancy across six units, the property is classified as Class C and operates under a Net Lease (NNN) agreement. The flexible space caters to various uses, including flex, traditional office, and warehouse tenants, all within a permitted Light Industrial zoning. The asking price is $2,625,000, translating to $79 per square foot. The property generates substantial current annual income estimated at $188,000, yielding an estimated 7.15% rate of return. Significant upside potential exists, with an estimated 40% increase in rental income achievable, potentially increasing the property value to over $3,680,000. The current average rent is $5.65 per square foot, while the average market rent is estimated at $8.00 per square foot, highlighting the considerable value and growth potential of this investment. This is a rare opportunity to acquire a well-maintained, fully occupied industrial portfolio in a thriving Texas market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Longview
- County
- Gregg
- State
- Texas
- Longitude
- -94.7145
- Latitude
- 32.4998
