Description

State Farm Sale Leaseback Investment offers a single-tenant office investment at 2814 Terrell Road in Greenville, TX 75402, within the Greenville / Hunt County submarket. The seller will remain as tenant under a new lease beginning at closing, giving the buyer an income-producing position from the outset.

The freestanding 2,737 SF building was built in 1984 and sits on 0.44 acres with Commercial zoning. Assigned parking and on-site parking serve the office. State Farm agent Penni Perkins has served the Greenville community for more than 30 years in the insurance industry, bringing an established local operating presence to the sale leaseback. The new lease has a five-year initial term, two additional five-year renewal options and annual rent increases of 2.0%.

The office occupies a visible position on Terrell Road among established national and regional retailers. Greenville and Hunt County have direct access to I-30, connecting the area with Dallas-Fort Worth and East Texas. For a buyer focused on the tenant’s operating setting, the commercial corridor and surrounding businesses give the agency a recognizable location for customers while keeping the investment tied to a specific Greenville address.

At an asking price of $599,000, or $218.85 PSF, the investment offers $41,055 in NOI and a 6.85% cap rate. The NNN lease structure assigns the landlord responsibility for the roof, structure and HVAC, while the tenant is responsible for real estate taxes, property insurance, utilities and specified upkeep under the lease. Those terms define both the income and the ownership obligations for a buyer reviewing the sale leaseback.