Private Family Office Acquires Retail Asset Formerly CVS Pharmacy At 1710 West Gentry Parkway
1710 West Gentry Parkway
Building Size
9,504 SF
Asset Type
Retail
Closing
May 20, 2025
AI
The property asset involved in the transaction is a former CVS Pharmacy located at 1710 West Gentry Parkway in Tyler, Texas. This retail space encompasses a total square footage of 9,504. The property was previously occupied by CVS, which has since gone dark, but it is currently subleased by Dollar General.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 1710 West Gentry Parkway
- Market: Tyler
- Seller: Merle Easton
- Seller's Representative: Jesus Melo, Preston Schwartz, Kevin Puder & Chad Kurz - Matthews Real Estate Investment Services
- Buyer: Private family office
- Asset Acquisition: Part of a growing retail portfolio across Texas
The transaction was arranged by Matthews Real Estate Investment Services, highlighting their role in facilitating the sale of this property. The involvement of the private family office indicates strategic expansion within the retail sector in Texas.
Players
Tyler Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93