Current Use by Public Records
- Warehouses
Property Details for 215 Acc Rd
- Year built
- 2024
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional Class A industrial property in Mount Vernon, Texas, offers a compelling investment opportunity. The 9,240-square-foot distribution warehouse is 100% occupied by Frito-Lay/PepsiCo under a 20-year triple-net (NNN) lease commencing January 1, 2025, and expiring January 1, 2045. The lease includes a corporate guarantee and annual rent bumps of 1.5%, with an additional 5% increase at two 5-year option points. The property features seven dock-high doors and sits on a 2.01-acre lot (87,556 sq ft). The current Net Operating Income (NOI) is $252,000, with a pro-forma NOI of $269,709, resulting in a 6.00% cap rate and a pro-forma cap rate of 6.42%. Built in 2024, this single-story building offers excellent access to Interstate 30, providing efficient connectivity to regional markets. This investment presents a stable income stream with a creditworthy tenant and significant long-term growth potential. The property is categorized as Core+ Net Lease and is privately owned.
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
- Mount Vernon
- County
- Franklin
- State
- Texas
- Longitude
- -95.2234
- Latitude
- 33.1628
