407 6Th St, Hearne, TX 77859

49,600 SF | Industrial Building | Hearne, TX 77859 | $2,230,000 ($45/SF) | 7% Cap Rate

Asking Price $2,230,000

Property Type
Industrial
Price / Square Foot
$45

Listing Contacts

Brett Davis
Alexander Harrold

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.
Functional Low-Coverage IOS Facility – This ±49,600 SF industrial facility is situated on ±10.78 acres of land (10.56% coverage) allowing for significant industrial outdoor storage (IOS) capabilities, one of the most sought-after asset classes in today’s market. Builders FirstSource utilizes this subject facility to carry out its strategic Truss Production operations.
Attractive Basis at Just $44 PSF – At the list price, an investor has the unique opportunity to acquire a functional 49,600 Sq. Ft. industrial facility leased to a multi-billion dollar publicly traded company at just $44 PSF, which is significantly below replacement cost.
Below Market Rent / Upcoming 20% Rent Increase – Builders FirstSource is currently paying well below market on their rental rate at just $3.15 PSF per year. 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 investor’s overall return/cap rate by 139 basis points (7.00% to 8.39% in 2027).
Income Tax-Free State / Close Proximity to Major MSAs – Texas benefits from being an Income Tax-Free State. Hearne, TX is just 25 miles from College Station & is located directly in the middle of Austin, Houston, & Dallas-Fort Worth.
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

Property Details

Class
B
Year Built
1980
Stories
1
Lot Size (sq. ft)
469,577 SF

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