16101602 County Road 153 Midland, TX 79706
- Warehouses
- 6,000 SF
- 4.00 lot acres
Current Use by Public Records
- Warehouses
Property Details for 16101602 County Road 153
- Year built
- 2020
- Lot size
- 4.00 lot acres
- Property size
- 6,000 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents two 3,000 square foot industrial buildings situated on a four-acre lot in Midland, Texas. Built in 2020, these single-story structures boast 18-foot ceilings and are currently leased to high-credit tenants under a triple-net (NNN) lease agreement commencing October 1, 2024, and expiring September 30, 2029. The property generates a substantial net operating income (NOI) of $123,000 annually, resulting in an attractive 9.9% capitalization rate. The asking price is $1,242,424.24, translating to $207.07 per square foot. Located in the heart of the Permian Basin, this property benefits from the region's robust energy sector and offers significant potential for long-term growth and return on investment. The property's zoning is not specified. This sale-leaseback opportunity provides a secure and profitable investment in a thriving market. The combined rentable space totals 6,000 square feet across two buildings.
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
- -102.025
- Latitude
- 31.9183
