BICO Drilling Tools Midland, TX
Status Under Contract
Location 5103 W County Road 126, Midland, TX 79706
Captialilzation Rate 9.25%
Building Size 5,000 Square Feet
Lot Size 1.25 Acres
Lease Type NNN
Term Remaining 3.92 Years
Price $ 969000
- STNL Industrial Portfolio Sold Together or Separately
- Recently Constructed Facilities in Midland, Texas
- Annual Rent Increases
- Each Facility Includes Outdoor Storage
- The Permian Basin is the Highest Producing Oil Field in the United States
The subject property is a 5,000-square-foot facility sitting on 1.25 acres on West County Road 126 in Midland, Texas. Built in 2022, the building features metal construction with four drive-in doors and is crane ready.
The property is leased to BICO Drilling Tools, a company that designs and manufactures standard and customized equipment for the oil and gas market. There are approximately four years of lease term remaining on a Triple Net (NNN) lease and the lease enjoys three percent annual increases.
This property is part of a three-property portfolio of single-tenant, net-leased industrial properties with outdoor storage. The properties can be purchased together or separately.
Agent : Patrick Doherty
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512-338-7855
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patrick.doherty@marcusmillichap.com