300 Union St, Marengo, IN 47140
1,300,000 SF | 100% Leased | Industrial Building | Marengo, IN 47140 | $26,000,000 ($20/SF)
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $26,000,000
- Property Type
-
Industrial
- Price / Square Foot
- $20
Listing Contacts
Jeremy Ward
Verified Profile
- Property Info
Property Overview
Opportunity Knocks !! Marengo Warehouse and Distribution center includes 270 ac +/- in which 58 ac has been developed underground into 13 individual warehouses which average 100,000 sqft each. Four of the warehouses are freezer units that are used for frozen foods. Some of the storage facilities are dehumidified as well. There are several other income streams for this property including a home and phone tower lease. Some of the benefits of having the storage underground are no heating or cooling bills since this stays between 55 and 58 degrees year round. No maintenance on roofs and exterior etc. This business operates both 3PL and Gross lease. Several government and state contracts are included in this sale of the property and business. Please reach out for more details and videos of the facility. This is a solid business that has been operating for 30 years with so much room for expansion as well as mineral rights for the remaining limestone quarry. Located in the heart of the Midwest just minutes from I-64 and less than 45 minutes from Louisville, Kentucky and close to several larger cities (St. Louis, Cincinnati, Indianapolis, Evansville, Lexington, Nashville, Chicago, Detroit). The property has a 50 car rail spur on site but would need to be improved prior to being used
Property Details
- Class
- C
- Year Built
- 1986
- Stories
- 1
- Property Subtype
- Distribution
- Lot Size (sq. ft)
- 11,717,640 SF
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