1210 South Chestnut, Lufkin, TX

Office for Sale - $2,800,000 - 28,000 Sq. Ft.


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Agent Info

NameWes Hallmark, CCIM
CompanySVN | Hallmark & Associates

Property Info

CIMLS #973762
Location1210 South Chestnut
Lufkin TX 75901
Last UpdatedJuly 9th, 2018
TypeOffice
Price$2,800,000
Building28,000 Sq. Ft.
DemographicsView data

Contact


Property Description

This was a build to suit and lease in 2002. New 5 year lease renewal through 2022.

All tenants are stable with a strong history and all of the leases are guaranteed by the State of Texas, with an AAA credit rating.

Annual rent increases are available based on the Consumer Price Index changes, with no early termination clauses.

Texas Health and Human Services Commission (HHSC), oversees several state departments such as:

Texas Department of Aging and Disability Services, Texas Dept. of State Health Services and Texas Dept. of Family and Protective Services, along with itself.

HHSC provides many benefits and services throughout Texas including: Medicaid, Children's Health Insurance Program, Texas Women's Health Program, temporary assistance for needy families, SNAP food benefits and nutritional programs, family violence services, refugee services, and disaster assistance.

This is an excellent opportunity for potential investors looking for great cash flow, and the ability to create equity through mortgage reduction from tenant paid rents. This type of asset is appealing to banks and financial institutions, and debt quotes are available.

Location Description:

On 58 / S. Chestnut Street

Highlights:

>> The area is primarily newer commercial development

>> Annual rent increases through portion of CPI increases to offset expense increases

>> New 5 year lease renewal

>> Low maintenance, concreted parking lot

>> Building can be expanded to accommodate future tenant growth

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Location