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17582355
17582356

703 NW Mustang Dr, Andrews, TX 79714

AO
AZ SA025914000
KW Commercial Phoenix/Glendale-Peoria
Listed by KW Commercial Phoenix/Glendale-Peoria
$1,325,000
348 days on market
Updated 58 days ago

Andrews Texas Warehouse

Details
Property Type Industrial
Sub Type Warehouse
Square Footage 10,000
Net Rentable (SqFt) 10,000
Cap Rate 10.48%
NOI $138,880
Occupancy 100%
Tenancy Single
Brand/Tenant Innovex, Pride Energy
Lease Type NNN
Lease Term 7
Lease Expiration 12/31/2028
Remaining Term 2.6
Rent Bumps Yes
Pro-Forma Cap Rate 10.48%
Pro-Forma NOI $138,880
Price per SqFt $133
Broker Co-Op Yes
Year Built 1965; 2019
Year Renovated 2019
Buildings 3
Stories 1
Acreage 2.000
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/01/2022
Occupancy Date 01/01/2022
Ceiling Height 16'
Dock High Doors 8
Ownership Fee Simple
Sale Condition 1031 exchange

Billion dollar NYSE Tenant - Just renewed

Marketing description

Fantastic NNN leased building to a major player in the Oil & Gas industry. Since this is located in the popular Permian Basin, having such a solid tenant as Innovex speaks well to the long term success of this business. They even have some converted trailers for some of their employees from out-of-state. Tremendous cap rate at 10.48% for such a credit tenant.

This property totals 10,000 SF on 2 Acres. There is 2,000 SF of office space including three private offices, a break room, conference room, and a waiting area with built in secretarial desk. The 8,000 SF warehouse has 6 drive-in bays, (2) 500-pound jib cranes, locker room, shop fans, and shop heaters. There are utility connections for (2) 7-room camp trailers with separate septic. The property also has laundry facilities and a fuel dock. The yard is compacted rock, fully fenced, and fully lit with pole lights. There are two electric gates on Mustang Dr and another at the rear of the property for access to Sunset St. This makes it convenient for trucks to drive through the property. The property is in a great location for any type of service.

Investment highlights

  • NYSE Traded $1B Tenant
  • 10,000 sf total on a 2-acre lot
  • 2,000 sf office/8,000 sf warehouse
  • 3% Rent Bumps through Dec. 2028
  • 8 Grade-Level Doors
  • 6 Drive-In Bays w/14’ Electric
  • Overhead Doors
  • Yard Lighting and Fuel Dock
  • (2) 500 lb Jib Cranes

Listing Contacts

AO
AZ SA025914000
KW Commercial Phoenix/Glendale-Peoria
Listed by KW Commercial Phoenix/Glendale-Peoria

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$138,880.00
$11,573.33/mo

Valuation Metrics

0
DSCR
10.48%
Cap Rate
10.48%
ROI

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