34,856 SF NNN Leased Investment - Real Estate Only

Industrial for Sale
Catylist Listing ID: 30798326
Property Subtypes: Free-Standing, Manufacturing, Light Industrial, Net Leased, Warehouse/Distribution
Building Size (RSF): 34,856 SF
Gross Building Area: 35,320 SF
Gross Land Area: 3.08 Acres
Sale Price: $5,395,000
Unit Price: $154.78 PSF
Docks/Doors: 2 Docks
Office SF: 4,400 SF
Drive In Bays: 2 Bays
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Sale Terms: Sale/Leaseback
Cap Rate: 4.85%
Average Occupancy Rate: 100
Last Updated: 12/1/2022

Overview / Comments

Well located Sale-Leaseback Investment Opportunity for a Investor.
Real Estate Only. Current Occupant to stay in place.

34,856 SF Manufacturing Facility on 3.08 Acres in a highly desirable industrial location. Expansion of the building for an additional tenant, or current tenant use, is a possibility.

Seller to sign a new 5 year NNN lease with Two, 5-year options and 3% annual increases.

Year 1 base rent will be $261,420 ($7.50/SF NNN) providing a 4.85% Cap Rate.

The 34,856 SF building includes 4,400+/-SF office area with reception area, multiple private offices, meeting areas and restrooms. Manufacturing/warehouse area includes 3 phase power, grade-level and dock-level doors, insulated ceiling and walls, storage mezzanine and fire sprinklers.

Great location in the US 301 corridor with convenient access to I-75 via SR 70 and University Parkway.

* Do Not Contact Building Occupant *

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Taxing Authority: Manatee County
Tax ID/APN: 1846901179
Zoning: LM - LIGHT MANUFACTURING (MANATEE COUNTY)
Tenancy: Single Tenant
Total Number of Buildings: 1
Year Built: 2002
Parking Type: Surface
Parking Description: Asphalt paved parking
Total Parking Spaces: 53
Eave Height: 20
Sprinklers: Wet
X-Phase: 3
Zoning Description: LM - Light Manufacturing (Manatee County)
Lot Frontage: 452
Lot Depth: 300
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: LOTS 1, 2 & 3 BLK A 301 PARK OF COMMERCE NORTH, PI#18469.0117/9

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,942 83,840 185,828
Median Age: 32.58 44.64 44.77
Households: 1,744 35,470 80,064
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