1514 S County Road 1309 - Manufacturing FOR SALE


Midland, TX 79707
$12,318,313 USD
214-534-7976
1514 S County Road 1309, Midland, TX for Sale
$12,318,313 USD
Manufacturing - FOR SALE
1/8
null | 8.5% Cap Rate

1514 S County Road 1309
Midland, TX 79707


HIGHLIGHTS

  • Occupied by Drilling Tools International – a leading provider of downhole tools to the land and offshore drilling markets
  • Long-Term Lease With 72 Months Remaining & (2) Renewal Options
  • Strategic Location between Midland & Odessa, TX

OVERVIEW

This Single Tenant Net Lease (STNL) industrial investment opportunity features a specialized facility leased to Drilling Tools International, Inc. (DTI), a premier provider of downhole drilling tools and services to the oil and natural gas industry. Located at 1514 S. County Road 1309, Midland, TX, in the heart of the Permian Basin, this property is strategically positioned to serve the most active oil-producing region in the United States. The specialized facility aligns with the tenant's operational needs, ensuring a mutually beneficial arrangement and a stable income stream for the investor. DTI, established in 1984 and headquartered in Houston, Texas, is publicly traded on the NASDAQ under the ticker symbol DTI. The company specializes in the manufacturing, rental, inspection, and refurbishment of essential tools for horizontal and directional drilling operations, both onshore and offshore. DTI operates from 16 service centers across North America and 11 international locations, providing comprehensive support to the global drilling and wellbore construction industry. The lease agreement commenced on April 18, 2019, with an expiration date of April 17, 2031, offering a remaining term of 72 months and 17 days as of April 1, 2025. The fixed monthly rent is $87,254.72, equating to an annual rent of $1,047,056.64. The NNN lease structure stipulates that the tenant is responsible for property taxes, insurance, management fees (including a 3% property management fee), and roof repairs, all billed monthly. The landlord's obligations are limited to maintaining the roof, structure, foundation, concrete floors, and exterior walls. The property encompasses 52,246 square feet of industrial space across 4 buildings, approximately 10% of which is office space, situated on a 10.99-acre lot. Built in 2012, 2013, & 2016 with durable metal construction, the facility boasts a 29.7’ to 31.8’ warehouse eave height, multiple bridge and jib cranes, eight grade-level drive-in doors, and multiple wash bays, making this an ideal property for most industrial operations.

FOR SALE DETAILS

PRICE

$12,318,313 USD

PRICE/SF

$236 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Regional HQ - Long Term STNL - Credit Tenant

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2012

UTILITIES

-

CLEAR CEILING HT

31.666666666666668 Ft

DOCKS

-

DRIVE INS

-

PARKING SPACES

23

LAND DETAILS

LAND ACRES

6

LAND SF

261,360

ZONING

-

APN/PARCEL ID

R000208-842

ASK ABOUT THIS PROPERTY

Justin DoddNRG Realty Group, LLCMore Info
214-534-7976

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Justin DoddNRG Realty Group, LLCMore Info
214-534-7976

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.