3811 County Rd Midland, TX 79706
- Warehouses
- 15,221 SF
- 3.00 lot acres
Current Use by Public Records
- Warehouses
Property Details for 3811 County Rd
- Year built
- 2019
- Lot size
- 3.00 lot acres
- Property size
- 15,221 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a fee-simple, 15,221-square-foot warehouse in Midland, Texas. The property, built in 2019 and situated on three acres, boasts a fresh 10-year net lease (NNN) with Park City Drilling, commencing May 31, 2022, and expiring November 29, 2034. The lease includes a 7.5% rent bump in year six, ensuring consistent income growth. The property features 22-foot ceilings, multiple drive-in bays, a wash/test system plumbed to holding tanks, 3-phase heavy power, and a (3) 5-ton overhead bridge crane. The building also includes approximately 2,350 square feet of office space with private offices, a conference room, and a dispatch area. This mission-critical location serves as Park City Drilling's primary Permian Basin operation base, demonstrating a strong commitment to the site. The property's strategic location within a new industrial park provides immediate access to Interstate 20 and Loop 250. With a current NOI of $275,000 and an 8.00% cap rate, this offering presents a compelling return on investment. The asking price is $3,436,000, translating to $225.74 per square foot. The property is 100% occupied. This is a single-tenant, net lease investment with minimal landlord responsibilities (roof and structure).
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Midland
- County
- Midland
- State
- Texas
- Longitude
- -102.143
- Latitude
- 31.9374
