Property details
Single Tenant Industrial, Northeast Region
Property Description
Single Tennant Industrial construction completed in September 2007, an approximately 81,840 square foot distribution facility including approximately 800 square feet of office space. The building is constructed of pre-engineered metal.
Leased for ten years from September 2007 until September 2017 at an annual rent of $309,125. There is one five-year option to renew. The rent increases to $338,844 in the renewal term. The lease is net with Tenant responsible for taxes, insurance and maintenance.
Images
Highlights
- Status:
- Sold
- Price:
- $3,747,000
- PSF:
- $46
- Cap Rate:
- 8.25%
- Annual Rent:
- $309,125
- Rent Increases:
- The rent increases to $338,844 in the renewal term.
Property Information
- Building Size:
- 81,840 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Industrial
- Units/Spaces:
- 1
- Year Built:
- 2007
- Land Area:
- 6.31 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Inquire
- Lease Type:
- NNN
- Lease Commencement:
- 9/1/2007
- Lease Expiration:
- 9/1/2017
- Lease Term:
- 10 years
- Years Remaining:
- 9 years
- Landlord Responsibilities:
- Landlord is responsible for maintaining, repairing and replacing, as necessary, the structure of the building including the roof, roof membrane, drains, gutters, downspouts, foundation, footings, floor slab, columns, underground utility lines and conduits
- Options:
- one five-year option to renew
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.