Double Digit Cap Rate in Brownfield

Industrial for Sale
Catylist Listing ID: 30545486
Property Subtypes: Manufacturing, Warehouse/Distribution
Building Size (RSF): 3,840 SF
Gross Building Area: See Agent
Sale Price: $250,000
Unit Price: $65.10 PSF
Office SF: 960 SF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 11.96%
Last Updated: 9/28/2020

Overview / Comments

Free standing office/warehouse for sale in Brownfield, Texas. Property is leased to an oil and gas service provider. Current tenant lease expires August 31, 2021. Cap rate is 11.96%. Property has three 10' overhead doors and a small 3,500 SF stackyard, two bathrooms, two offices, and front counter with lobby. Remodeled in 2017.

NOI - $29,900 - Income Producing Property
Oil & Gas Service Related Tenant
Building Remodeled in 2017
Small Fenced Stack Yard

Additional Details

Nearest MSA: Lubbock
County: Terry
Tax ID/APN: 1-COR-032-001-000
Site Description: Located at the corner of E. Stewart Street and Lubbock Road in Brownfield, Texas.
Tenancy: Single Tenant
Year Built: 1957
Year Renovated: 2017

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,598 10,141 10,141
Median Age: 31.22 35.35 35.35
Households: 1,564 3,329 3,329

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