7401 County 1210 Rd, Midland, TX 79706
48,500 SF | 100% Leased | Industrial Building | Midland, TX 79706 | $5,999,000 ($124/SF) | 12% Cap Rate
For Sale
Active
Asking Price $5,999,000
- Property Type
-
Industrial
- Price / Square Foot
- $124
Listing Contacts
- Property Info
Property Overview
Located at 7401 SCR 1210 in Midland, Texas, this investment property was built in 2022 on a 40-acre lot, offering a total building size of 48,500 square feet. It comprises 3,500 square feet of office space and 45,000 square feet of industrial space. The property features seven 10-ton OG cranes and several overhead doors, including three at 24'X35', two at 12'X16', and one at 16'X16', with an eave height of 42'. Currently, the property is leased under a Triple Net Lease agreement with a tenant committed to a 7-year term starting from June 1, 2022, to May 30, 2029, with two renewal options, each for 3 years. Financially, the property generates a Net Operating Income (NOI) of $720,000, offering a Cap Rate of 12.02%, with a list price of $5,990,000. With its solid lease terms, impressive features, and attractive financials, this property represents a compelling investment opportunity in Midland's thriving industrial market.
Listing Overview:
Location: 7401 SCR 1210, Midland, Texas
Year Built: 2022
Lot Size: 40 +- Acres
Total Building Size: 48,500 SqFt
Office Space: 3,500 SqFt
Shop Space: 45,000 SqFt
Features:
OG Cranes: (7) 10 Ton
Overhead Doors:
(3) 24'X35'
(2) 12'X16'
(1) 16'X16'
Eave Height: 42'
Lease Details:
Tenant Lease Term: 7 Years
Lease Start Date: 6/1/2022
Lease End Date: 5/30/2029
Renewal Options: (2) 3 Year Ren.
Lease Type: Triple Net Lease (NNN)
Financials:
Net Operating Income (NOI): $720,000
Cap Rate: 12.02%
List Price: $5,990,000
Listing Overview:
Location: 7401 SCR 1210, Midland, Texas
Year Built: 2022
Lot Size: 40 +- Acres
Total Building Size: 48,500 SqFt
Office Space: 3,500 SqFt
Shop Space: 45,000 SqFt
Features:
OG Cranes: (7) 10 Ton
Overhead Doors:
(3) 24'X35'
(2) 12'X16'
(1) 16'X16'
Eave Height: 42'
Lease Details:
Tenant Lease Term: 7 Years
Lease Start Date: 6/1/2022
Lease End Date: 5/30/2029
Renewal Options: (2) 3 Year Ren.
Lease Type: Triple Net Lease (NNN)
Financials:
Net Operating Income (NOI): $720,000
Cap Rate: 12.02%
List Price: $5,990,000
Property Details
- Year Built
- 2022
- Stories
- 2
Highlights
- 40 +- Acres
- 48,500 SqFt
- Year Built: 2022
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