405 Main Ave Monahans, TX 79756
- Commercial real estate
- 17,640 SF
- 0.51 lot acres
Current Use by Public Records
- Whaley Jessica / Medical Clinic / Professional Services
- Family Dollar / Discount Supermarket / School Supply Store
- Mr. William Dodson / Physical Therapist
- Speed J C / Nursing Agency
- Paradigm Physical Therapy / Physical Therapist
Property Details for 405 Main Ave
- Lot size
- 0.51 lot acres
- Property size
- 17,640 SF
- Property type
- Commercial real estate
- APN
- 8333
- APU
- 8333
Description
This exceptional investment opportunity features a 19,267 square foot retail building in Monahans, Texas, occupied by two credit-rated tenants: Family Dollar and Dollar Tree. Both tenants operate under separate, co-terminus net leases with approximately 7.1 years remaining until expiration (December 30, 2031). The leases commenced December 31, 2020, and feature attractive monthly payment structures for taxes, insurance, and CAM charges. The property boasts 100% occupancy, generating a strong net operating income (NOI) of $184,193, resulting in a 7.75% cap rate. Situated on a 0.56-acre corner lot along Monahans' main thoroughfare, this property benefits from high visibility and convenient access. Built in 2020, the building is well-maintained and features a wall separating the two tenant spaces. The asking price is $2,376,685, translating to $123.36 per square foot. Monahans' location along I-20, just 35 miles from Odessa, and its position within the Permian Basin's robust oil economy, contribute to the property's strong investment potential. This fee-simple ownership offers a secure and profitable addition to any portfolio. The property's strategic location and strong tenant base make it an attractive investment opportunity with significant long-term growth potential.
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
- Monahans
- County
- Ward
- State
- Texas
- Longitude
- -102.892
- Latitude
- 31.5914
