Current Use by Public Records
- Industrial properties
Property Details for 500 Austin Ave
- Year built
- 1990
- Lot size
- 9.49 lot acres
- Property type
- Industrial properties
- Property subtype
- Distribution centers
Description
This ±65,000 square foot industrial distribution facility, located at 500 Austin Ave, Henderson, TX 75652, presents a compelling investment opportunity. Built in 1990 and renovated in 2015, the property sits on a 9.49-acre lot and boasts a 100% occupancy rate with a new five-year net lease to Builders FirstSource (NYSE: BLDR), a Fortune 250 company. The lease commenced April 1, 2024, and expires March 31, 2029, featuring favorable CPI rent increases. The asking price is $3,975,000, representing a $61.15 per square foot price and a 6.25% cap rate, with a current NOI of $248,400. The property's strategic location in East Texas, at the intersection of five major highways, provides excellent access for distribution operations. The low coverage ratio (15.73%) allows for significant outdoor storage capabilities. This offering provides a secure investment with a strong corporate guarantee and below-market rent. The property's location in Texas offers the added benefit of no state income tax. The lease includes options for a five-year extension with CPI increases capped at 20%. The property's APN is 49432.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Henderson
- County
- Rusk
- State
- Texas
- Longitude
- -94.8085
- Latitude
- 32.1773
