Current Use by Public Records
- Warehouses
Property Details for 2120 Aviation Way
- Year built
- 2020
- Lot size
- 5.00 lot acres
- Property type
- Warehouses
- Property subtype
- Office Spaces
Description
This exceptional Class A industrial flex building, totaling 15,944 square feet, sits on a 5-acre lot in Carlsbad, New Mexico. Built in 2020 as a build-to-suit for Coterra Energy (NYSE: CTRA), a credit-rated independent oil and gas producer, the property boasts a 10.8-year remaining lease term with a 100% occupancy rate. The strong financial performance of Coterra Energy, with $5.91B in revenue and $1.63B in net income for FY 2023, ensures a stable and secure investment. The property's strategic location in Eddy County, within the prolific Delaware Basin, a key area for Coterra's operations, further enhances its value. The building's mission-critical function for Coterra, evidenced by their significant investment in the region, provides long-term stability. With a net operating income (NOI) of $462,376 and an attractive 7.50% cap rate, this net lease investment presents a compelling opportunity for discerning investors. The property is zoned 220 and features a single tenant with a long-term lease. The address is 2120 Aviation Wy, Carlsbad, NM 88220. This is a rare opportunity to acquire a high-quality asset with a premier energy company tenant in a prime location.
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
- Carlsbad
- County
- Eddy
- State
- New Mexico
- Longitude
- -104.258
- Latitude
- 32.331
