Listed by Moriah Real Estate Company, LLC
$2,496,000
2401 East County Road 155 | Investment Sale
Details
Property Type Industrial
Sub Type Warehouse
Square Footage 11,200
Cap Rate 10.00%
NOI $249,600
Occupancy 100%
Tenancy Single
Brand/Tenant Iron Horse Chemicals
Lease Type NNN
Lease Term 7
Lease Expiration 08/30/2030
Remaining Term 4.3
Rent Bumps Yes
Year Built 2023
Buildings 1
Stories 1
Acreage 3.961
Investment Type Stabilized
Lease Commencement 08/31/2023
Occupancy Date 08/31/2023
Net-Leased Industrial Asset | 11,200 SF Facility on 4 Acres
Marketing description
This 11,200 SF industrial property sits on a 4.00-acre caliche base yard with full perimeter fencing and two gated entrances, providing ample yard space for operations and equipment. The site is equipped with 3-Phase 480V power, fiber internet, a water well, and septic system. The building features (8) overhead doors with (4) drive-through bays, mezzanine storage in the shop, and a covered wash bay with a sump system. Office improvements include (4) offices, a conference room, a built-out lab room, kitchenette, (2) restrooms, and additional storage space.
About Iron Horse Chemicals
Iron Horse Chemicals is a complete service provider when it comes to treating oil and gas production. They manage all aspects in the field from reservoir to sales, which includes, but is not limited to asset integrity, flow assurance and production optimization. Iron Horse signed a 7-Year Lease Term ending: August 31, 2030.
Located in an industrial development off FM 715, approximately 4 miles south of Interstate 20 and less than 3 miles from Garden City Highway. The site sits on a private county road that is scheduled to be paved by the end of the year.
Investment highlights
- Sale Price/CAP Rate $2,496,000/10.00%
- Current NOI $249,600
- Building Size/Lot Size: 11,200 SF/3.961 Acres
- Tenant Information
- Lease Term Length: 9/1/2023 - 8/31/2030
- Rent Escalation Date: 9/1/2027
- After Escalation NOI: $312,000
- Long-Term Tenant: Iron Horse Chemicals
- Build-to-Suit Tenant | Year Built: 2023
- Tenant Rent Escalation: September 1, 2027
Listing Contacts
Listed by Moriah Real Estate Company, LLC
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$249,600.00
$20,800.00/mo
Valuation Metrics
0
DSCR
10%
Cap Rate
10%
ROI
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