Retail•Street Retail•For Sale

Party City

1011 Wal Street, Longview, Texas 75605

Sale Price $1,862,000
Sale Type Net Lease Investment
Bldg Type Single Tenant
Cap Rate 6.25%
Vacancy 100%
Gross Bldg 15,000 SqFt
Land Area .79 Acres
Net Op Inc $116,400
Market Longview
Sub-Market Tyler, Texarkanas and Shreveport
A great location and a great tenant. Party City is publicly traded (NYSE: PRTY) and is a retail chain of party supply stores founded in 1986. Today it is the largest retailer of party goods in the United States, Canada and Mexico, operating over 900+ (2015) company-owned and franchise outlets under the Party City, Halloween City, and Factory Card & Party Outlet brands and employing more than 10,000 employees. In 2017 Party City had a market cap of $1.5 B with revenues of $2.37 B. The subject property is in the North-East quadrant of Longview, the fastest growing quadrant of the city. CoStar reports that there is 1,335,352 SF of retail within a one mile radius and that the current vacancy rate is 2.8% with a five year average asking rental rate of $20.98 PSF. Being just off State High Way 259 and East Loop 281 it is in an extremely high traffic area. Both UT Tyler-Longview University and Longview High School are less than one mile from the property. While Longview's population is just under 90,000 what is considered the metro-plex of shoppers and workers is over 200,000. The areas desirability is seen by the recent construction of Khol's, Lowes, Home Depot, Wal Mart, Sam’s, Target, Walgreens, Pet Smart, Old Navy, Ross Dress For Less; all are almost within walking distance.
  • Single Tenant Net Leased
  • 10 Year Lease Starting 2/1/2019
  • Minimal Landlord Responsibilities
  • Dynamic Location
  • New Roof in 2018
12/28/2018 3:58:34 PM 1/30/2019 2:41:06 PM

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