2208 W Cannon St
Pecos, TX 79772
Tractor Supply · Retail Property For Sale

The Property is subject to a 15-year, corporate guarantee triple net lease. The lease has five percent rent increases every five years, and tenant has four, five-year renewal options all with increases. The landlord is responsible for the roof and structure; however, the property is new construction (built in 2018). Pecos, Texas is situated in the Permian Basin, which is one of the oldest and most widely recognized oil and gas producing regions in the United States. The Permian Basin covers approximately 86,000 square miles and encompasses 52 counties in New Mexico and Texas. Pecos is specifically located in the Delaware Sub Basin, which is the western portion of the Permian Basin, and has attracted the bulk of industry horizontal activity. Horizontal drilling with extended-reach laterals and larger pad developments are being used to unlock the vast resource that still remains in this historic Permian oil and natural gas field. These horizontal wells that are being used in the Delaware Basin cost between $6 million to $8 million per well, depending on lateral length, and they are drilling 400 per month in the Pecos area. The Property is strategically positioned in this booming oil and gas market and provides the appropriate equipment and attire for thousands of field workers in the Delaware Basin.