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LUBEZONE (NYSE: ARES) | NEW NNN EXTENSION 1506 W 2nd St 20,976 SF Retail Building Odessa, TX 79763 $1,796,832 ($85.66/SF) 7.04% Cap Rate
Investment Highlights
- Corporate NNN Lease Featuring 10% Rental Increases Throughout the Initial Term and Options. Priced Below Replacement Cost.
- Direct Access to Interstate 20 and Highway 385, Two Key Trucking Corridors Linking Odessa to Midland, El Paso, and Dallas–Fort Worth.
- Odessa, Texas, has seen Consistent growth over the Years, driven by the Energy Sector, Manufacturing, and an Expanding Retail Industry.
- Highly Functional Facility - Features 6 Drive-In Service Bays. Recent Lease Extension through 2037, Signaling Long-Term Commitment to the Location.
- LubeZone’s Parent Company, Ares Management Corporation (NYSE: ARES), is a Global Alternative Investment Firm Managing over $525 Billion in Assets.
- Bonus Depreciation - Significant Tax Benefits: Subject Property Qualifies for Tax Savings via Accelerated Depreciation and Cost Segregation.
Executive Summary
LubeZone Truck Lube Center (NYSE: ARES) | Recently Extended NNN Lease Through 2037 | Priced Below Replacement Cost | Qualifies for Accelerated Depreciation | Strategically Located on I-20 Business Loop and Hwy 385 | Near Odessa Motor Freight Terminal & Union Pacific Rail Yard | Core Trucking Corridor for West Texas Logistics | Densely Populated Area | Located in the Permian Basin Energy Hub | Surrounded by National Industrial & Fuel Tenants
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
20,976 SF
Building Class
B
Year Built/Renovated
2000/2010
Price
$1,796,832
Price Per SF
$85.66
Cap Rate
7.04%
NOI
$126,497
Tenancy
Single
Building Height
1 Story
Building FAR
0.35
Lot Size
1.38 AC
Zoning
LI - Light Industrial
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- LubeZone
- Retailer
- 20,976 SF
- -
- Triple Net
- Mar 2037
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| LubeZone | Retailer | 20,976 SF | - | Triple Net | Mar 2037 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 28400-02150-00000 | Improvements Assessment | $978,208 |
| Land Assessment | $63,600 | Total Assessment | $1,041,808 |
Property Taxes
Parcel Number
28400-02150-00000
Land Assessment
$63,600
Improvements Assessment
$978,208
Total Assessment
$1,041,808
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LUBEZONE (NYSE: ARES) | NEW NNN EXTENSION | 1506 W 2nd St
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