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Single-Tenant Industrial

Park City Drilling Technologies

3811 S County Rd 1235, Midland, TX 79706

Listing Price: $3,640,000

Cap Rate
8.15%
Lot Size
3.00 acres
Year Built
2019
Rentable SF
15,221

Investment Overview

Property is 15,221 Rentable SF, Features Include: 3-Phase/Heavy Power, 22’ Ceilings. Multiple Drive-In Bays and a Wash/Test System Plumbed to Holding Taks, Strategically Located within a New Industrial Park with Immediate Access to Interstate 20 and Loop 250 in Midland, TX.

Investment Highlights

  • 15,221 Rentable SF | Constructed in 2019 | Situated on Three Acres | 2,350 SF of Office Space | Private Offices, Conference Room, Dispatch Area | (3) 5-Ton Overhead Bridge Crane
  • Property Features Include: 3-Phase/Heavy Power, 22' Ceilings. Multiple Drive-In Bays and a Wash/Test System Plumbed to Holding Taks
  • Strategically Located within a New Industrial Park with Immediate Access to Interstate 20 and Loop 250
  • STNL Industrial Asset Leased to Park City Drilling Technologies (One of Four Locations)
  • 3.75 Years Remaining on Base Term | One, 5-Yr Option Period | 3% Annual Rent Increases Throughout Base & Option Periods | 8.52% Blended Cap Rate Over the Base Term, 9.20% Blended Cap Rate Over Total Term
  • NNN Lease with Minimal Landlord Responsibilities
  • This Mission Critical Location Serves as Park City Drilling's Home Base for Operations in the Permian Basin

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Single-Tenant Industrial

Park City Drilling Technologies

Listing Price: $3,640,000

Cap Rate
8.15%
Lot Size
3.00 acres
Year Built
2019
Rentable SF
15,221

Investment Highlights

  • 15,221 Rentable SF | Constructed in 2019 | Situated on Three Acres | 2,350 SF of Office Space | Private Offices, Conference Room, Dispatch Area | (3) 5-Ton Overhead Bridge Crane
  • Property Features Include: 3-Phase/Heavy Power, 22' Ceilings. Multiple Drive-In Bays and a Wash/Test System Plumbed to Holding Taks
  • Strategically Located within a New Industrial Park with Immediate Access to Interstate 20 and Loop 250
  • STNL Industrial Asset Leased to Park City Drilling Technologies (One of Four Locations)
  • 3.75 Years Remaining on Base Term | One, 5-Yr Option Period | 3% Annual Rent Increases Throughout Base & Option Periods | 8.52% Blended Cap Rate Over the Base Term, 9.20% Blended Cap Rate Over Total Term
  • NNN Lease with Minimal Landlord Responsibilities
  • This Mission Critical Location Serves as Park City Drilling's Home Base for Operations in the Permian Basin

Investment Overview

Property is 15,221 Rentable SF, Features Include: 3-Phase/Heavy Power, 22’ Ceilings. Multiple Drive-In Bays and a Wash/Test System Plumbed to Holding Taks, Strategically Located within a New Industrial Park with Immediate Access to Interstate 20 and Loop 250 in Midland, TX.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

Financing By

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