9500 Service RdBig Spring, TX 79720

Property Details for 9500 Service Rd

Year built

2004

Lot size

3.77 AC

Property size (Sq ft)

10,180 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

This exceptional investment opportunity presents a 10,180-square-foot industrial warehouse located at 9500 S I-20 Service Rd, Big Spring, Texas, 79720. The property, situated on 3.77 to 9.77 acres of land, comprises two buildings constructed in 2004 and 2010, with renovations completed in 2016. The main building features a 5,000 square foot main office and shop with a 2,400 square foot covered wash area/storage. A second building offers 1,050 square feet of shop/office space and an attached 4,130 square foot covered equipment storage area. The property boasts a total of 10 offices, 3 bathrooms, 1 conference room, and 2 kitchens. Additional features include two shops, a small tank farm, ample covered storage, and a fenced yard. The warehouse benefits from three dock-high doors and 18-foot ceilings. Currently leased under a triple-net (NNN) lease with a credit-rated tenant, the lease commenced August 31, 2022, and expires August 30, 2025, with a remaining term of two years. The lease includes one three-year renewal option at market rate, not less than the last rate paid. The asking price is $815,000, representing a price per square foot of $80.06 and a cap rate of 11.04%. The property is zoned C and offers excellent visibility and accessibility from I-20 Service Road. The current net operating income (NOI) is $90,000. This property is a fee simple ownership and is currently 100% occupied.

Location Insight

City

Big Spring

County

Howard

State

Texas

Latitude

32.2872

Longitude

-101.328

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