Investment Property For Sale

Industrial for Sale
Sale Pending/Contingent
Catylist Listing ID: 29983475
Property Subtypes: Light Industrial, Net Leased
Status: Pending/Contingent
Building Size (RSF): 9,000 SF
Gross Land Area: 2.50 Acres
Sale Price: $995,000
Unit Price: $110.56 PSF
Docks/Doors: 5 Doors
Office SF: 3,000 SF
Drive In Bays: 5 Bays
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 11.6%
Average Occupancy Rate: 100
Last Updated: 8/2/2017

Overview / Comments

9,000 SF Office/Warehouse on 2.5 acres. 3000 SF office with a training/conference room, 6,000 SF shop, Crane ready, 5) 14X16 ft overhead doors, 3 phase 480v/400amp electric, insulated shop with 8' liner panel, 6 in slab, security fence with 1 cantilever gate, 1 rolling gate, 2 swinging gates. We have recently enlarged the office and increased the rent and extended the lease to 7 years. Disclosure: Listing Broker owns an interest in this property.

Located on S. County Road 1210 (S. Midkiff Rd) 2 miles south of Interstate 20, 2 miles west of Hwy 349 (Rankin Hwy) in Midland County. Outside city limits.

Financials

Finance Data Year 2017
Net Operating Income $115,200 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Midland
County: Midland
Zoning: NA
Highway Access: 2 miles south of Interstate 20 and 2 miles west of State Hwy 349 (Rankin Hwy)
Airports: 5 minutes to Midland International Airport
Tenancy: Single Tenant
Total Number of Buildings: 1
Property Condition: Excellent
Year Built: 2015
Roof Type: Gable
Construction/Siding: Metal Siding, Steel Frame
Eave Height: 22
Amps: 400
Volts: 480
X-Phase: 3 phase
Heat Type: Electricity
Water Service: Well
Sewer Type: Septic
Easements: Pipelines
Easements Description: There is a low pressure gas pipeline easement running across the front of the property parallel to the road in front.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,388 9,977 45,463
Median Age: 27.99 31.38 30.34
Households: 434 3,186 15,427

Contact

Photograph of Listing Agent

Paul Ary

CRE Associates Real Estate, LP
STCAR CIE Member
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