NNN Industrial Investment - MRC Global, Inc.
Industrial | 9.02% CAP | 24,000 SqFt
Marketing description
Trifecta Real Estate offers for sale 4505 Gilbertsville Hwy, a 24,000-sq.-ft. industrial facility on 9.03 acres in Calvert City, KY, leased on an absolute NNN basis to MRC Global (US) Inc., a subsidiary of DNOW Inc. (NYSE: DNOW). DNOW is a leading distributor of pipe, valves, and fittings for the North American energy and industrial sectors. The property is listed at $1,850,000 (9.02% cap rate) with $166,822 in Year 1 net operating income. The lease runs through April 30, 2028.
Built in 1991, the facility includes an office wing and sits on a gated 9.03-acre site with 449 feet of KY-282 frontage and 390 feet on Dr. Smith Lane. The fenced laydown yard, used for outdoor pipe and tubular storage, is rare for the area, where most parcels are 1 to 3 acres. Under the absolute NNN lease, the tenant handles all maintenance, including roof, structure, HVAC, and parking lot.
The tenant is part of DNOW Inc. (NYSE: DNOW), a Houston-based distributor with 300+ locations and 5,300 employees. DNOW acquired MRC Global in 2025, reporting $2.82B revenue and $209M EBITDA that year. 2026 revenue guidance is $5.4B. MRC has occupied the site since 2013, renewing twice, with one 5-year renewal option remaining. The site's long use for distribution and MRC's renewal record support strong renewal probability.
The facility is near Kentucky's major petrochemical cluster, with customers like Westlake Chemical, Carbide Industries, Air Liquide, Wacker Polysilicon, Arkema, and Ashland within five miles. The area offers river barge, CSX rail, and Interstate 24 access, supporting over 75 years of industrial activity.
Investment highlights
- Absolute NNN lease with MRC Global (US) Inc., a subsidiary of NYSE-traded DNOW Inc., one of the largest distributors of pipe, valves, and industrial products to the North American energy and industrial sectors
- 9.02% going-in cap rate on $166,822 of Year 1 net operating income; lease runs through April 30, 2028 with 2% annual rent escalations
- 13 years of continuous tenancy (since 2013) with two executed lease renewals (2018 and 2023); one 5-year renewal option remains under mutual agreement at market rate
- Rare 9.03-acre fully fenced and gated site with fenced industrial laydown yard used for outdoor storage of pipe and tubular goods — a scarce feature in the Calvert City corridor where most parcels are 1 to 3 acres
- Strategically positioned within Kentucky's largest petrochemical cluster; within five miles are major chemical producers including Westlake Chemical, Carbide Industries, Air Liquide, Wacker Polysilicon, Arkema, and Ashland
- 35 years of continuous use of the site for pipe-valve-fitting distribution operations; MRC has operated from this specific address for 13 years and from this site for 35 years
- Strong tenant credit profile: DNOW reported $2.82 billion revenue and $209 million adjusted EBITDA in 2025; management guidance of $5.4 billion revenue for 2026 following November 2025 all-stock acquisition of MRC Global
- Prime industrial location with Tennessee River barge access, CSX rail, and Interstate 24 connectivity; 449 feet of frontage on KY-282 and 390 feet on Dr. Smith Lane
- Tenant responsible for all maintenance under absolute NNN structure including roof, structure, HVAC, and parking lot
- 24,000 SF steel structure industrial building with office wing, built 1991, with (2) dock high doors and (1) grade level ramp
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