13932 Old Texaco Rd Conroe, TX 77302-4610

This exceptional investment opportunity presents a 30,190 square foot industrial property in Conroe, Texas, encompassing two buildings on a 5.96-acre lot. The property features 20'-22' ceiling heights and boasts a strong tenant, Eagle Downhole Solutions, a leading oil and gas technology developer and manufacturer, under a triple-net (NNN) leaseback agreement. The sale-leaseback includes a three-year term with a base rent of $11 per square foot, escalating 3% annually. The property, built in 2007 and renovated in 2013, offers immediate cash flow with a current NOI of $332,091 and a pro-forma NOI of $342,053, resulting in an 8.00% cap rate and a pro-forma cap rate of 8.24%. Located at 13932 Old Texaco Rd, Conroe, TX 77302, this Class B industrial asset benefits from its strategic location in a high-growth submarket, easily accessible via major highways including I-45, I-69, and State Highway 99. The property's strong tenant, favorable lease terms, and prime location make it an attractive investment opportunity. The asking price is $4,150,000, translating to $137.46 per square foot. The property is offered fee simple with 100% occupancy, commencing May 9, 2024. The APN is 0321-01-02410.