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    2120 Aviation Way Carlsbad, NM 88220

    For Sale
    $6,165,000

    Investment-grade tenant, high NOI.

    Property size:
    15,944 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional Class A industrial flex building, totaling 15,944 square feet, sits on a 5-acre lot in Carlsbad, New Mexico. Built in 2020 as a build-to-suit for Coterra Energy (NYSE: CTRA), a credit-rated independent oil and gas producer, the property boasts a 10.8-year remaining lease term with a 100% occupancy rate. The strong financial performance of Coterra Energy, with $5.91B in revenue and $1.63B in net income for FY 2023, ensures a stable and secure investment. The property's strategic location in Eddy County, within the prolific Delaware Basin, a key area for Coterra's operations, further enhances its value. The building's mission-critical function for Coterra, evidenced by their significant investment in the region, provides long-term stability. With a net operating income (NOI) of $462,376 and an attractive 7.50% cap rate, this net lease investment presents a compelling opportunity for discerning investors. The property is zoned 220 and features a single tenant with a long-term lease. The address is 2120 Aviation Wy, Carlsbad, NM 88220. This is a rare opportunity to acquire a high-quality asset with a premier energy company tenant in a prime location.

    Property Features for 2120 Aviation Way

    General Information

    Property type
    Distribution properties
    Square Feet
    15,944 SF
    Class
    A
    Lot Size
    217,800 SF

    Building Details

    Year Built
    2020

    HighLights

    • Investment‑grade tenant: Coterra Energy (NYSE: CTRA), with a BBB credit rating, reported $5.91B in revenue and $1.63B in net income in FY2023.
    • Mission‑critical location: 2020 build‑to‑suit, 15‑year lease in Carlsbad, NM, centrally located within Coterra's Delaware Basin operations.
    • Strategic placement: Carlsbad, NM location in the prolific Delaware Basin, a top US oil and gas producing area.
    • Premier energy company: Coterra is a leading energy producer with a strong balance sheet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Map

    City
    Carlsbad
    County
    Eddy
    State
    New Mexico
    Longitude
    -104.258095
    Latitude
    32.3310261

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    FAQs

    What type of property is this?
    Distribution property - Investment-grade tenant, high NOI.
    Where is this distribution property located?
    The property is located at 2120 Aviation Way Carlsbad, NM.
    What is the asking price?
    The asking price for this property is $6,165,000.
    What are key features of this property?
    This property features: Investment-grade tenant: Coterra Energy (NYSE: CTRA), with a BBB credit rating, reported $5.91B in revenue and $1.63B in net income in FY2023.; Mission-critical location: 2020 build-to-suit, 15-year lease in Carlsbad, NM, centrally located within Coterra's Delaware Basin operations.; Strategic placement: Carlsbad, NM location in the prolific Delaware Basin, a top US oil and gas producing area.
    Request Owner's contact information
    2120 Aviation Way Carlsbad, NM 88220
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    Carlsbad, NM 88220
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2120 Aviation Way Carlsbad, NM 88220
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