601 Upshur Ave Gladewater, TX 75647-2127

Property Details for 601 Upshur Ave

Year built

1961

Lot size

0.49 lot acres

Property size

8,010 SF

Property type

Commercial real estate

APN

0700000013-005-00-01

APU

7000000130050001

Description

This 7,830 square foot convenience store/grocery store in Gladewater, Texas, presents a compelling investment opportunity. Located at 601 W Upshur Ave, this property boasts a strong 8.75% cap rate, generating a net operating income (NOI) of $40,500 annually. The asking price is $462,857. The property features a single tenant, Family Dollar (Dollar Tree), under a gross lease with a remaining term of approximately 1.3 years, expiring December 31, 2025. The lease commenced June 15, 1997, and is corporately guaranteed. The building was constructed in 1961 and enjoys 100% occupancy. This prime location, situated right off US Highway 80, benefits from excellent visibility and accessibility. The property is part of a shopping center, with Anytime Fitness as a neighboring tenant, creating synergistic foot traffic. The average household income in the area is $71,614, aligning well with the Family Dollar customer demographic. The property's central East Texas location provides convenient access to larger cities like Tyler, Longview, and Shreveport. Furthermore, a unique revenue stream exists: the landlord receives 2.5% of store sales exceeding $750,000. Dollar Tree, the parent company, holds an investment-grade credit rating of BBB- and has demonstrated strong performance, including increased same-store sales and profitability following the COVID-19 pandemic. This investment offers a blend of stability, strong cash flow, and potential for additional income.