16101602 County Road 153Midland, TX 79706

Property Details for 16101602 County Road 153

Year built

2020

Lot size

4.00 AC

Property size (Sq ft)

6,000 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

This exceptional investment opportunity presents two 3,000 square foot industrial buildings situated on a four-acre lot in Midland, Texas. Built in 2020, these single-story structures boast 18-foot ceilings and are currently leased to high-credit tenants under a triple-net (NNN) lease agreement commencing October 1, 2024, and expiring September 30, 2029. The property generates a substantial net operating income (NOI) of $123,000 annually, resulting in an attractive 9.9% capitalization rate. The asking price is $1,242,424.24, translating to $207.07 per square foot. Located in the heart of the Permian Basin, this property benefits from the region's robust energy sector and offers significant potential for long-term growth and return on investment. The property's zoning is not specified. This sale-leaseback opportunity provides a secure and profitable investment in a thriving market. The combined rentable space totals 6,000 square feet across two buildings.

Location Insight

City

Midland

County

Midland

State

Texas

Latitude

31.9183

Longitude

-102.025

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