6206 County Road 1270 Midland, TX 79706

Property Details for 6206 County Road 1270

Year built

2022

Lot size

14.57 lot acres

Property size

14,580 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

This fee-simple industrial warehouse, located at 6206 S County Rd 1270 in Midland, Texas, presents a compelling investment opportunity. The 14,580-square-foot facility sits on a 14.57-acre lot within the Hawk View Industrial Park, a master-planned development serving oil and gas infrastructure service companies. Conveniently situated near Interstate 20, this property boasts 16 dock-high doors and a 24-foot ceiling height. It's currently 100% leased to Innovex International, Inc., a Houston-based international company with a strong credit profile backed by two private equity firms. The lease, commencing September 1, 2024, and expiring December 31, 2031, offers a remaining term of seven years with a 7% rent bump at year five and a further 8.5% increase during a potential five-year renewal. The property's Net Operating Income (NOI) is $478,800, yielding an 8.50% capitalization rate. The asking price is $5,633,000. This represents a significant investment in a high-growth Texas MSA, benefiting from an income tax-free state environment and the tenant's expansion within the park, increasing their footprint by 55%. The property's strategic location and strong tenant occupancy provide substantial income security and potential for future appreciation. Built in 2022, this well-maintained facility offers a landlord-favorable lease structure and a prime location within a thriving industrial sector. The lease options include one (1) and five (5) year extensions.

Location Insight

City

Midland

County

Midland

State

Texas

Longitude

-102.192

Latitude

31.8873