320 E. Methvin St & 325 E. Tyler St, Longview, TX, 75601
TWO-BUILDING OFFICE INDUSTRIAL CAMPUS | 124,417 SF + 1.22 ACRE BONUS LOT | E-TEX REPOSITIONING
Marketing description
JBK RE & BROKERAGE, LLC is Excited to present 320 East Methvin Street & 325 East Tyler Street, Longview, TX 75601, a superior acquisition and repositioning opportunity consisting of ±124,417 SF of office/industrial improvements plus an additional ±1.22 acre paved lot. Formerly utilized as a corporate headquarters and industrial production campus, the property is now available for lease or sale, creating a rare opportunity for investors, owner-users, relocation groups, or industrial operators to acquire a functional infill campus significantly below replacement cost.
Building 1 (±59,450 SF) is available for immediate lease-up, featuring 18-foot clear heights, dock-high loading, full sprinkler coverage, and 1,000 to 1,200 amp 277/480V three-phase service. Building 2 (±64,967 SF) is partially income-producing multi function Office Space under existing subtenancy during master lease transition, supported by an Assignor Guarantor obligation through November 2028.
Acquisition basis approximately $75/SF against $150-$175/SF replacement cost. Pro forma stabilized rents of $6.00 to $8.00/SF NNN support $746K to $995K of NOI, implying $10.3M to $13.7M of value at a 7.25% cap rate. 5- to 7-year future value approximately $12M to $16M at exit.
Direct I-20 access, U.S. Routes 31/80/259 convergence, 2 miles to nearest Union Pacific rail yard, and proximate to East Texas Regional Airport. Area Major Industry is Lead by Eastman Chemical, Komatsu Mining, Trinity Industries, AAON, CHRISTUS Health, and Dollar General Distribution, Holt Cat, Gap Old Navy Distribution.
Investment highlights
- ±124,417 SF Two-Building Industrial Campus | Building 1 (±59,450 SF) + Building 2 (±64,967 SF)
- ±4.9 AC Across Two Parcels | Includes ±1.22 acre paved Excess Lot
- Acquisition Basis Approximately $75/SF vs $150-$175/SF Replacement Cost
- Brick and Masonry Construction | Building 1 (1955, Renovated 1988/2007) | Building 2 (1987)
- 18-Foot Clear Heights | 2 Dock-High Doors Plus 1 Covered Canopy Loading Position
- Heavy Power: 1,000-1,200 Amp (Building 1) + 1,600 Amp (Building 2) | 277/480V Three-Phase
- 100% Wet Sprinkler Coverage | HVAC Across Majority of Campus
- 73 On-Site Parking Spaces Plus ±52,872 SF Overflow Parking Lot Across Street
- Office Component: ±5,700 SF Build-Out Within Building 2 | Balance Configured for Industrial Use
- Proximate to Union Pacific Rail Yard (2 Miles) | Easy I-20 Access | U.S. Routes 31, 80, 259 Convergence
- Pro Forma Stabilized at $6.00-$8.00/SF NNN Market Rents
- Assignor Guarantor Obligation Through November 2028 Supports Interim Income During Repositioning
- 9 office tenants occupying approximately 50% of the office portion of the building
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