707 Nelson LnWharton, TX 77488

Property Details for 707 Nelson Ln

Year built

1970

Lot size

13.62 AC

Property size (Sq ft)

16,462 SF

Property type

Commercial real estate

APN

32106

APU

32106

Description

This fee-simple industrial property, located at 707 Nelson Ln, Wharton, TX 77488, offers a compelling investment opportunity. The 18,462-square-foot warehouse complex sits on a spacious 13.62-acre lot and boasts three buildings constructed in 1970 and 2008. The property features six grade-level loading docks, an interior crane, and ample outdoor storage space, presenting significant potential for expansion or additional development. Currently 100% occupied by Ranger Energy Services (NYSE: RNGR), a leading provider of mobile rig well services, under a new five-year lease with substantial tenant improvements, this asset provides strong cash flow with a Net Operating Income (NOI) of $114,000 and an 8.77% cap rate. The asking price is $1,300,000, translating to $70.41 per square foot. Its strategic location southwest of Houston, easily accessible via I-69/US 59, in a market with only 2.1% vacancy, further enhances its investment appeal. The property is classified as Class C, with a NNN lease type. This is a single-tenant, fee-simple ownership opportunity. The low building coverage ratio of approximately 3% highlights the significant potential for future development on the expansive lot.

• Alternative Use

  Use

  Valuation

  Residential

  $4,640,066

  Hospitality

  $4,250,276

  Educational

  $3,536,180

  Medical

  $3,657,794

  Retail

  $5,500,724

Location Insight

City

Wharton

County

Wharton

State

Texas

Latitude

29.3166

Longitude

-96.1062

CBSA code

20900

CBSA name

EL CAMPO, TX MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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