2121 2Nd St Odessa, TX 79761

This exceptional investment opportunity presents a 44,000-square-foot industrial property in Odessa, Texas, currently leased to SunSource, a major player in industrial fluid power distribution with a long operational history and extensive North American presence. The property, situated on a 5.15-acre lot at 2121 E 2nd St, benefits from high visibility on a major thoroughfare with over 22,500 vehicles daily. The building is comprised of three structures, totaling 44,000 square feet, and has undergone significant renovations in recent years, including a new 11,900-square-foot warehouse addition in 2016, a complete roof replacement in 2019, and a new 3,200-square-foot hydraulic shop building in 2023. The property's low building coverage ratio (19.61%) offers potential for future expansion. The current lease is a triple-net (NNN) lease with a corporate guarantee, providing a passive income stream. The lease term is 10.1 years, with a remaining term of 2.6 years and two 5-year options, including rent bumps of 8.10% at the first option and 5.10% at the second. The asking price is $5,700,000, representing a compelling 8.05% cap rate and a price per square foot of $130. The property's strong tenant, strategic location, and recent improvements make it an attractive investment opportunity. Built in 1950, with renovations in 1976, 1980, 2001, 2009, 2016, and 2023, this Class B property offers a 100% occupancy rate and a net operating income (NOI) of $459,000. The property is ideally suited for a 1031 exchange.