3600 S County Road 1276 - Distribution FOR SALE


Midland, TX 79706
$4,525,000 USD
845-245-7122
3600 S County Road 1276, Midland, TX for Sale
$4,525,000 USD
Distribution - FOR SALE
1/10
null | 6.72% Cap Rate

3600 S County Road 1276
Midland, TX 79706


HIGHLIGHTS

  • 3 Years Remaining | Options To Extend | Below Market Rent
  • NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
  • Adjacent To Midland International Air & Space Port | Between Midland & Odessa | Strong Industrial Market
  • Strong Demographics In 10-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, FedEx Ship Center investment property located in Midland, Texas. The tenant, Federal Express Corporation, has approximately 3 years remaining on its lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features flat rent throughout the remainder of the term and FMV increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. The property was renovated in 2016 by installing a new roof and converting an undeveloped 0.82 acre lot to an additional fenced and graveled parking area.

FOR SALE DETAILS

PRICE

$4,525,000 USD

PRICE/SF

$254 USD /SF

CAP RATE

6.72%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

FedEx

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Distribution

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1982

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

78

LAND DETAILS

LAND ACRES

2.37

LAND SF

103,237

ZONING

Commercial

APN/PARCEL ID

R000026-587

ASK ABOUT THIS PROPERTY

William DonlonSRS National Net LeaseMore Info
845-245-7122

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William DonlonSRS National Net LeaseMore Info
845-245-7122

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