700 Kilgore Dr, Henderson, TX 75652
56,739 SF | Industrial Building | Henderson, TX 75652 | $4,615,000 ($81/SF) | 6.50% Cap Rate
For Sale
Active
4 pictures
Asking Price $4,615,000
- Property Type
-
Industrial
- Price / Square Foot
- $81
Listing Contacts
Brett Davis
Alexander Harrold
- Property Info
Property Overview
Strong Corporate Guarantee (Fortune 250 Company) – Builders FirstSource (NYSE: BLDR) is the nation’s largest supplier of structural building products with over 570 locations throughout 43 states. As a Fortune 250 company, Builders FirstSource is a multi-billion dollar, publicly traded company with a market cap of ± $18B & an annual revenue of ± $17B in 2023.
Highly Functional Low-Coverage IOS Facility – This 56,739 Sq. Ft. industrial facility is situated on 14.58 acres of land (8.93% coverage) allowing for significant industrial outdoor storage (IOS) capabilities, which is one of the most sought-after asset classes in today’s market. Builders FirstSource utilizes this subject facility to carry out their strategic Truss Production & Corporate operations.
Below Market Rent / Upcoming 20% Rent Increase – Builders FirstSource is currently paying only $5.29 PSF per Year on their rental rate which is significantly below what comparable properties are leasing for in this area. The subject lease is structured with favorable CPI rent increases in the option periods and is on track to receive a 20% rent increase in the upcoming option period which will increase an investors overall return/cap rate by 130 basis points (6.50% to 7.80% in 2027).
Strategic Texas Location / Income Tax Free State – Located in the heart of East Texas, there are 5 major highways that intersect in Henderson to form “The Star” (Texas 64, US 259, Texas 43, US 79 N & S) making this an ideal location for industrial operations. Lastly, Texas benefits from being an Income Tax Free State.
Broker of Record
Patrick Graham
License No. 9005919 (TX)
(866) 889-0550
Matthews Real Estate Investment Services
8300 Douglas Ave.,
Ste. 750, Dallas, TX 75225
Brett Davis and Alex Harrold (In conjunction with Matthews Real Estate Investment Services, Inc., a cooperating foreign broker for this listing pursuant to Section 535.4(b) of the Texas Administrative Code)
Highly Functional Low-Coverage IOS Facility – This 56,739 Sq. Ft. industrial facility is situated on 14.58 acres of land (8.93% coverage) allowing for significant industrial outdoor storage (IOS) capabilities, which is one of the most sought-after asset classes in today’s market. Builders FirstSource utilizes this subject facility to carry out their strategic Truss Production & Corporate operations.
Below Market Rent / Upcoming 20% Rent Increase – Builders FirstSource is currently paying only $5.29 PSF per Year on their rental rate which is significantly below what comparable properties are leasing for in this area. The subject lease is structured with favorable CPI rent increases in the option periods and is on track to receive a 20% rent increase in the upcoming option period which will increase an investors overall return/cap rate by 130 basis points (6.50% to 7.80% in 2027).
Strategic Texas Location / Income Tax Free State – Located in the heart of East Texas, there are 5 major highways that intersect in Henderson to form “The Star” (Texas 64, US 259, Texas 43, US 79 N & S) making this an ideal location for industrial operations. Lastly, Texas benefits from being an Income Tax Free State.
Broker of Record
Patrick Graham
License No. 9005919 (TX)
(866) 889-0550
Matthews Real Estate Investment Services
8300 Douglas Ave.,
Ste. 750, Dallas, TX 75225
Brett Davis and Alex Harrold (In conjunction with Matthews Real Estate Investment Services, Inc., a cooperating foreign broker for this listing pursuant to Section 535.4(b) of the Texas Administrative Code)
Property Details
- Class
- B
- Year Built/Renovated
- 2001/2005
- Stories
- 1
- Property Subtype
- Distribution
- Lot Size (sq. ft)
- 635,105 SF
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