Best Buy NNN Property For Sale — Midland, TX
2511 West Loop 250 North, Midland, TX 79705
This property is 100% leased to Best Buy Company, Inc. The tenant has a 20-year lease, which commenced in December 1994 and expires in January 2015, with two 5-year renewal options. Best Buy Co. Inc. (BBY) reported revenues exceeding $45 billion and a net income of over $1 billion as of February 2009. The company holds a credit rating of BBB- with a Stable outlook from Standard & Poor's. The property is strategically located on the prominent West Loop 250 retail corridor in Midland, Texas. The area boasts an average household income over $82,000 within a 1-mile radius and over $79,000 within a 3-mile radius.
- Address: 2511 West Loop 250 North, Midland, TX 79705
- Asking price $3.30M
- 9.02% cap rate
- NOI $297,660
- 5 years remaining
- NNN lease
- Year built: 1994
- Building size: 45,800 SF
- Lot size: 5.57 acres
- Lease expiration: Jan 1, 2015
- Guarantor: Corporate
Location
This Best Buy property is at 2511 West Loop 250 North in Midland, Texas.
Asset type: Retail