904 Perla Rd Pasadena, TX 77502-4810

This fee-simple industrial warehouse, located at 904 Perla Rd, Pasadena, TX 77502, offers a compelling investment opportunity. The 16,923-square-foot Class B building sits on a 2.32-acre lot and boasts a 100% occupancy rate with a new five-year lease to Imprimus, a packaging conglomerate, commencing November 2024. The lease includes a 4% annual rent escalation and one five-year extension option, ensuring consistent cash flow. The property features an 18-foot clear height ceiling, one drive-in loading dock, and ample industrial outdoor storage (IOS) space, reflecting a building coverage ratio of only 17%. Its strategic location provides easy access to major transportation arteries, including I-45, Beltway 8, and Hobby Airport, within one of the largest industrial submarkets in the U.S., benefiting from the proximity to the Port of Houston. The property's strong financials are highlighted by a current NOI of $184,801 and a pro-forma NOI of $192,193, translating to a 7.00% cap rate and a pro-forma cap rate of 7.28%. The asking price is $2,640,000, representing a price per square foot of $156. This single-tenant, triple-net (NNN) lease structure minimizes management responsibilities and maximizes return on investment. The building is of metal construction and includes three-phase power. This asset presents a rare opportunity to acquire a cash-flowing industrial property in a high-demand location with a secure, long-term lease.