Property details
Single Tenant Lease, Northeast Region
Property Description
Single Tenant Lease
• 11% CAP Rate on Existing Income
• Short-Term Lease with 2 Years Left
The single tenant lease facility is used by a large auto manufacturer as a manufacturing facility for their trucking division which has a main assembly plant 7 miles away. The property is divided up into 3 major sections: 13,000 square feet office, 50,000 square feet of 16 foot clear height, and 90,000 square feet of 25 foot clear height. Per the lease agreement, the landlord is responsible for sound structure; all other costs associated with the building are responsibility of the single tenant.
Images
Highlights
- Status:
- Sold
- Price:
- $3,580,000
- PSF:
- $23
- Cap Rate:
- 11.22%
- Annual Rent:
- $401,664
- Rent Increases:
- Annual Increases
Property Information
- Building Size:
- 156,750 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Office
- Units/Spaces:
- 1
- Year Built:
- 1991
- Land Area:
- 13.28 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Inquire
- Lease Type:
- NN
- Lease Commencement:
- 10/19/2007
- Lease Expiration:
- 10/19/2007
- Years Remaining:
- -1 years
- Landlord Responsibilities:
- the landlord is responsible for sound structure
- Options:
- Inquire
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.