1490 Fort Harrison Rd, Terre Haute, IN 47804
53,000 SF | 100% Leased | Industrial Building | Terre Haute, IN 47804 | $2,600,000 ($49/SF) | 9.97% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,600,000
- Property Type
-
Industrial
- Price / Square Foot
- $49
Listing Contacts
Peter Doughty
Verified Profile
Josh Caruana
Verified Profile
- Property Info
Property Overview
The Doughty Industrial Group of Marcus & Millichap is pleased to present the sale offering of 1490 Fort Harrison Road, Terre Haute,
Indiana, a single-tenant, net leased industrial investment offering. The property sits minutes away from the U.S. Route 41 and Indiana
State Road 63 interchange. In addition to major interstate access, the property resides directly off Fort Harrison Road which is home to
many national retailers and economic drivers.
The subject property is 53,000 square feet that was built in 1991 and consists of mostly warehouse build-out. The property was leased to a local distribution company under a triple-net agreement for an initial term of 5 years, with 4 years remaining on the lease. The current lease contains 3% annual rental increases and minimal landlord responsibility.
The purchase of this offering presents an investor with a passive single-tenant industrial opportunity. At the current list price of $2,600,000
the investment generates an in-place NOI of $259,302 which equates to an 9.97% capitalization rate.
Indiana, a single-tenant, net leased industrial investment offering. The property sits minutes away from the U.S. Route 41 and Indiana
State Road 63 interchange. In addition to major interstate access, the property resides directly off Fort Harrison Road which is home to
many national retailers and economic drivers.
The subject property is 53,000 square feet that was built in 1991 and consists of mostly warehouse build-out. The property was leased to a local distribution company under a triple-net agreement for an initial term of 5 years, with 4 years remaining on the lease. The current lease contains 3% annual rental increases and minimal landlord responsibility.
The purchase of this offering presents an investor with a passive single-tenant industrial opportunity. At the current list price of $2,600,000
the investment generates an in-place NOI of $259,302 which equates to an 9.97% capitalization rate.
Property Details
- Year Built
- 1991
- Stories
- 1
- Lot Size (sq. ft)
- 116,305 SF
Highlights
- Single-tenant industrial investment opportunity
- Passive investment | NNN lease structure
- Lack of industrial space for lease within the local market
- Immediate access to Interstate 70, U.S. Route 41 & Indiana State Road 63
- Highly functional industrial building with minimal office build-out
- Business friendly state | Low tax bill of $6,925
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