1000-1012 Rankin Rd - Warehouse FOR SALE


Houston, TX 77073- Greenspoint/IAH Airport
$12,729,000 USD
424-220-7245
1000-1012 Rankin Rd, Houston, TX for Sale
$12,729,000 USD
Warehouse - FOR SALE
1/19
null | 6% Cap Rate

1000-1012 Rankin Rd
Houston, TX 77073
Greenspoint/IAH Airport


OVERVIEW

• DUAL NATIONAL TENANTS: Anchored by a strong national brand tenant with over 275 locations, and Hunting Energy Services, a global oil & gas service provider. Both tenants operate under Absolute NNN leases, with zero landlord responsibilities. • NEW CONSTRUCTION + STABLE TENANT MIX: The national-grade tenant occupies a brand-new 2023-built 38,000 SF facility, while Hunting occupies a ±33,222 SF facility built in 1998—offering both modern infrastructure and a stable, income-producing asset. • LONG-TERM LEASE COMMITMENT: The national-grade tenant signed a 15-year lease through October 2038, demonstrating long-term confidence in the location. Hunting Energy maintains a shorter-term lease expiring in 2028, providing flexibility or re-tenanting upside. • STRONG ANNUAL RENT GROWTH: The national-grade tenant features 2.5% annual rent bumps, while Hunting increases at 3.0% annually, ensuring steady NOI growth and hedge against inflation. • ATTRACTIVE LEASE ECONOMICS: Combined current annual rent exceeds $743,000, with the national tenant generating $11.46/SF and Hunting at $9.27/SF, both supported by Houston’s robust industrial demand. Land rent rates remain favorable at $2.22 $2.92/SF. • HIGHLY FUNCTIONAL INDUSTRIAL DESIGN: Situated on ±6.92 total acres, the site offers ample outdoor storage and operational space, with low coverage ratios (19.4% and 31.5%)—a key feature for users requiring material and fleet storage. • STRATEGIC HOUSTON LOCATION: Located on Rankin Road just off I-45, the property sits in one of Houston’s key industrial corridors with quick access to major highways, distribution networks, and the George Bush Intercontinental Airport

FOR SALE DETAILS

PRICE

$12,729,000 USD

PRICE/SF

$179 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

6.92

LAND SF

301,435

ZONING

-

APN/PARCEL ID

0921270000157,0921270000167

ASK ABOUT THIS PROPERTY

Isaac WulffMatthews Real Estate Investment ServicesMore Info
424-220-7245

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Isaac WulffMatthews Real Estate Investment ServicesMore Info
424-220-7245

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.