STNL | IOS - Distribution | Strong Guarantee
8,833 SF | Industrial Building | Evansville, IN 47712 | $2,800,000 ($317/SF) | 8.67% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,800,000
- Property Type
-
Industrial
- Price / Square Foot
- $317
Listing Contacts
Wade Cox
Verified Profile
Peter Everett
Verified Profile
- Property Info
Property Overview
Industry Real Estate Partners is pleased to offer the opportunity to acquire the fee simple interest (land & building) in this net lease distribution and storage facility leased to Brickworks Supply, LLC in Evansville, IN. The Evansville, Indiana market boasts a vacancy of 2% with steady rent growth year over year.
The tenant has 9 years remaining on the primary 10 year term with two 5-year options with 3% annual lease escalations throughout the life of the lease and options. This net lease deal is ideal for investors wanting a passive income stream with minimal landlord responsibilities. Further, outdoor storage sites have a strong barrier to entry and limited supply, allowing the investor to acquire an industrial property with a coveted use.
Strong tenant guarantee with 2023 revenue over $450M and parent company with a market capitalization over $2.5 billion. The US subsidiary has 8 manufacturing plants and 26 company operated distribution outlets.
The tenant has 9 years remaining on the primary 10 year term with two 5-year options with 3% annual lease escalations throughout the life of the lease and options. This net lease deal is ideal for investors wanting a passive income stream with minimal landlord responsibilities. Further, outdoor storage sites have a strong barrier to entry and limited supply, allowing the investor to acquire an industrial property with a coveted use.
Strong tenant guarantee with 2023 revenue over $450M and parent company with a market capitalization over $2.5 billion. The US subsidiary has 8 manufacturing plants and 26 company operated distribution outlets.
Property Details
- Class
- B
- Year Built
- 1981
- Stories
- 1
- Property Subtype
- Distribution, Truck Terminal, Warehouse
- Lot Size (sq. ft)
- 213,444 SF
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