2120 Aviation Way Carlsbad, NM 88220
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Investment-grade tenant, high NOI.
Property size:
15,944 SFProperty Features for 2120 Aviation Way
General Information
- Property type
- Distribution centers
- Square Feet
- 15,944 SF
- Class
- A
- Lot Size
- 217,800 SF
Building Details
- Year Built
- 2020
Listing Agency: CBRE Albuquerque Listing Agent: Jim Dountas
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
Location Intelligence
Current Use by Public Records
Distribution centers
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 center - Investment-grade tenant, high NOI.
Where is this distribution center 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.
