Current Use by Public Records
- Industrial properties
Property Details for 1716 Toledo Cir
- Year built
- 2004
- Lot size
- 7.29 lot acres
- Property type
- Industrial properties
- Property subtype
- Manufacturing properties
Description
Exceptional investment opportunity: a 62,112-square-foot manufacturing facility in Longview, Texas, currently leased to Modine Manufacturing Company (NYSE: MOD), a credit-rated tenant with a long history of success. This industrial property sits on a 7.29-acre lot and boasts a 7.50% cap rate. The building, constructed in 2004 and significantly renovated in 2019 and 2024, features heavy power, multiple cranes, one dock-high door, and twenty-six grade-level doors. Ample outdoor space provides parking and potential for expansion. The current lease, a net lease with annual rent bumps, runs through February 28, 2030, with two five-year renewal options at 95% of fair market value. The property benefits from a below-market rent of $5.20 per square foot, compared to CoStar's projected market rent of approximately $6.49 per square foot. Recent improvements include a new roof (2024) and extensive renovations in 2019 encompassing electrical, plumbing, and HVAC systems. Modine's planned 2025 renovations further demonstrate their commitment to the location. The property's strategic location in Longview, Texas, adjacent to I-20, offers excellent access to major transportation routes and the Port of Houston. Longview's business-friendly environment, including no state income tax, adds to the property's appeal. This is a rare opportunity to acquire a high-quality, income-producing asset with a strong tenant and significant upside potential. The asking price is $4,306,000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Longview
- County
- Gregg
- State
- Texas
- Longitude
- -94.7662
- Latitude
- 32.4748
