11120 Tx-191 Midland, TX 79707
- Retail properties
- 17,588 SF
- 1.58 lot acres
Current Use by Public Records
- Retail properties
Property Details for 11120 Tx-191
- Year built
- 2024
- Lot size
- 1.58 lot acres
- Property size
- 17,588 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 17,588-square-foot Class A auto shop in Midland, Texas, currently leased to Caliber Collision, the nation's largest collision repair provider. The property boasts a 15.1-year absolute triple-net (NNN) lease, offering zero landlord responsibilities. Built in 2024, this strategically located asset sits on a 1.58-acre lot within an industrial hub, close to numerous auto dealerships and service centers, including major brands like Mercedes, BMW, and Toyota. The lease features a significant 10% rent increase every five years, ensuring consistent income growth. The property benefits from a strong corporate guarantee from Caliber Collision, a company backed by Hellman & Friedman, a private equity firm managing over $25 billion in assets. With a 6.35% cap rate and a substantial net operating income (NOI) of $365,897, this property offers a compelling return on investment. The location is further enhanced by its proximity to Midland International Air & Space Port and a high average household income exceeding $144,000 within a 5-mile radius. The property also qualifies for tax savings through accelerated depreciation and cost segregation. This is a rare opportunity to acquire a high-performing, long-term net lease property in a thriving Texas market. The asking price is $5,762,157, with a price per square foot of $327.62. The lease expires on December 31, 2039.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Midland
- County
- Midland
- State
- Texas
- Longitude
- -102.251
- Latitude
- 31.9742
