Industrial Investment Property

Industrial for Sale
Catylist Listing ID: 30390760
Property Subtypes: Flex Space, Manufacturing, Mixed Use, Light Industrial, Warehouse/Distribution
Building Size (RSF): 385,028 SF
Gross Land Area: 66.20 Acres
Sale Price: $27,500,000
Unit Price: $71.42 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Usable Size (USF): 385,028 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/17/2020

Overview / Comments

Please visit https://round.me/tour/48125/view/120585 for an aerial tour of the property. Tenants take care of their own snow removal and ground work. 100,000 square foot addition in 2000. Up to 30 acres available for future development. 2.5 miles to the Jeep Plant.

Buildings 1 & 3 - Faurecia
Original lease commencement – 7/2006.
Originally 66,500 square feet.
Addition 11/2015 (87,000 square feet).
Presently occupies a total of 153,500 square feet.
Leased thru 10/2025.
Present rent – $1,028,940.00 NNN.
Options – three 5 year with 10% increases over the previous rental rate.
Discussions to expand further.

Buildings 1 & 4 - Melnor Graphics
Former NT Graphics.
Original owner of the property.
Occupies 181,528 square feet.
Leased thru 12/31/2032.
Present rent - $598,200.00 NNN.

Building 2 - Performance Packaging
Original lease commencement – 2008.
Occupies 50,000 square feet.
Built in 2008.
Leased thru 6/30/2029.
Present rent - 07/01/2019 thru 06/30/2024 – $175,000.00
07/01/2024 thru 06/30/2029 – $207,687.48

Financials

Finance Data Year 2016
Real Estate Taxes - Annual($) $195,721 (Annual)

Additional Details

Nearest MSA: Toledo
County: Lucas
Taxing Authority: Lucas County
Tax ID/APN: 22-05121
Zoning: IL
Property Located Between: Laskey Road and Alexis Road
Tenancy: Multiple Tenants
Total Number of Buildings: 4
Number of Stories: 1
Property Condition: Excellent
Year Built: 1941
Year Renovated: 2015
Roof Type: Other
Construction/Siding: Other
Exterior Description: Brick, block and metal
Parking Type: Surface
Total Parking Spaces: 150
Overhead Cranes: Undisclosed
Heat Type: Natural Gas
Zoning Description: IL
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,477 90,662 227,763
Median Age: 36.14 35.05 36.26
Households: 4,067 36,004 92,146
The information presented herein is provided as is, without warranty of any kind. Neither Commercial Property Information Exchange (CPIX) nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.