Net Lease
VERSATECH AUTOMATION SERVICES & POWER RIG TOOL, INC
3618 N County Rd 1148, Midland, TX 79705
Listing Price: $2,443,000
Cap Rate
8.75%
Lot Size
5.26 acres
Year Built
2015
Rentable SF
12,000
Investment Overview
Two-Tenant Net Leased Industrial Opportunity in the Permian Basin
VERSATECH AUTOMATION SERVICES & POWER RIG TOOL, INC
Investment Highlights
- 100% Leased to VersaTech Automation Services & Power Rig Rental Tool, Inc.
- Both NNN Leases with Minimal Landlord Responsibility (Roof & Structure Only)
- 12,000 Combined Rentable SF | Situated on Large 5.26 Acre Parcel
- Early Lease Renewal from PRRT at 28% Rate Increase Shows Commitment to the Site | Now Running Through 1/31/2030
- Build-to-Suit for VersaTech in 2015 | Lease Contains 3% Annual Rent Increases | Multiple Connections for Housing Trailers on Site
- Ideally Located with Immediate Access to the Texas State Highway Loop 250
- Five Mile Demographics: 50,000 Population & $98,000 Average Household Income
Exclusively Listed By
Broker of Record
Financing By
Net Lease
VERSATECH AUTOMATION SERVICES & POWER RIG TOOL, INC
Listing Price: $2,443,000
Cap Rate
8.75%
Lot Size
5.26 acres
Year Built
2015
Rentable SF
12,000
Investment Highlights
- 100% Leased to VersaTech Automation Services & Power Rig Rental Tool, Inc.
- Both NNN Leases with Minimal Landlord Responsibility (Roof & Structure Only)
- 12,000 Combined Rentable SF | Situated on Large 5.26 Acre Parcel
- Early Lease Renewal from PRRT at 28% Rate Increase Shows Commitment to the Site | Now Running Through 1/31/2030
- Build-to-Suit for VersaTech in 2015 | Lease Contains 3% Annual Rent Increases | Multiple Connections for Housing Trailers on Site
- Ideally Located with Immediate Access to the Texas State Highway Loop 250
- Five Mile Demographics: 50,000 Population & $98,000 Average Household Income
Investment Overview
Two-Tenant Net Leased Industrial Opportunity in the Permian Basin
Exclusively Listed By
Broker of Record
Financing By
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