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DOM: 321 Updated: 07.01.24 Posted: 04.21.23 Status: Sold 03.07.24

Summary

Price $1,550,000 $1,595,000
Built/Renov 2014/2023
Tenant Fortress Downhole Tools
Cap Rate 8.02% 7.80%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 11,670
Lease Start 06-01-2023
#Units 5
Price/SF $132.82 $136.68
Expiration 05-31-2029
Tenant Type Industrial
NOI $124,371
R. Term 4.1
Ownership Fee Simple
Rent/SF $10.66
Increases 5.0%/3/yrs
Pop 5Mi 52,798
Lot/AC 1.74
Options 1/6yrs/5%
AHHI 5Mi $112,388

Lease Highlights

  • New 2023 renovation
  • Fortress Downhole Tools recently signed a brand-new 6-year lease with 1 (6 year) option to extend
  • Lease features 5% rental increases every 3 years throughout the initial term and at each option period
  • Absolute NNN featuring zero landlord responsibilities
  • Corporate guarantee by Fortress Downhole Tools, LLC

Location Description

Fortress Downhole Tools is located at the hard corner intersection of Sugarland Drive and St. Etienne Road, just off Hwy 90, with access to over 40,000 vehicles per day. The property’s significant street frontage along Sugarland Dr. creates excellent visibility for the site. The building is going through $338,000 worth of expansion and renovation that features a state-of-the-art design with...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Fortress Downhole Tools, LLC dba Fortress Downhole Tools is a supplier of tools and equipment for Completion and Well Abandonment Operations. The company serves oil and gas clients domestically...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,219 22,746 55,029
2023 Total Population : 2,163 21,881 53,334
2023 Employed Civilian Pop : 1,024 11,541 28,403
2023 Total Businesses : 96 1,058 2,440
2023 Average Household Income : $ 116,477 $ 107,017 $ 106,864
2023 Total Consumer Spending : $ 74 M $ 728 M $ 1829 M
2023 Median Age : 37 37 37
2023 Total Households : 751 7,943 19,869
2023 Pop Age 25+: Bachelor's Degree : 357 4,090 10,036
2023 Average Home Value : $ 316,974 $ 269,207 $ 263,577
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Bercegeay Road US Hwy 90 2021 435 0.33 mi
Sugarfield Road US Hwy 90 2021 593 0.35 mi
Hardware Road E Fairfield Dr 2021 519 0.46 mi
Baker Street Hanchey St 2021 114 0.47 mi
Hanchey Street Le Blanc Rd 2021 288 0.54 mi
Baker Street Malcombe St 2021 141 0.55 mi
St Etienne Road Young St 2021 1,405 0.56 mi
Southwood Drive Southwood Blvd 2021 1,286 0.57 mi
Malcombe Street Cajun St 2021 456 0.60 mi
Geology Circle Young St 2021 51 0.61 mi

Listing Broker

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