101 Mockingbird Ln Victoria, TX 77904
- Warehouses
- 30,416 SF
- 3.11 lot acres
Current Use by Public Records
- Ferguson Selection Center / Appliance Store / Kitchen Supply Store
- CRT Flooring Concepts / Flooring Store / Carpet Cleaning Service
- Ferguson Plumbing Supply / Bathroom Supply Store / Plumbing Supply Store
Property Details for 101 Mockingbird Ln
- Year built
- 1974
- Lot size
- 3.11 lot acres
- Property size
- 30,416 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This fee-simple industrial property in Victoria, Texas, offers a compelling investment opportunity. The 30,416-square-foot distribution/warehouse/manufacturing facility sits on a 3.11-acre lot and features two buildings, including a main 26,116-square-foot structure and a secondary 4,300-square-foot building with 10 garage doors. Currently 100% occupied by a credit-rated tenant, Ferguson Enterprises, Inc., under a Net Net lease with 2.8 years remaining until the next lease option. The lease commenced June 29, 2016, and expires August 31, 2027, with two remaining 3-year lease options, each including a rent bump of 90% of the CPI. The property boasts four loading docks and significant recent renovations (2014/2022), exceeding $650,000 in improvements. The asking price is $3,244,500, representing a 6.00% cap rate and a pro-forma cap rate of 6.16%. The property's Net Operating Income (NOI) is $194,670, with a pro-forma NOI of $199,926. Built in 1974, this Class B property presents a stabilized investment with significant upside potential due to below-market rent and built-in rent increases. The property is located at 101 W Mockingbird Ln, Victoria, TX 77904. This is a 1031 exchange eligible property.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Victoria
- County
- Victoria
- State
- Texas
- Longitude
- -97.0062
- Latitude
- 28.8343
