Eastern Star Warehouse Investment Opportunity
Industrial
for Sale
| Catylist Listing ID: |
30779966 |
| Property Subtypes: |
Free-Standing, Industrial-Business Park, Manufacturing, Light Industrial, Truck Terminal, Warehouse/Distribution
|
| Building Size (RSF): |
26,000 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
2.76 Acres
|
| Sale Price: |
$2,200,000 |
| Unit Price: |
$84.62 PSF |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
5.47% |
| Last Updated: |
1/26/2022 |
Overview / Comments
Excellent Tri-Cities Investment Opportunity! Ideally located 26,000 sq ft industrial facility with 8,500 sq ft of paved parking on 2.76 acres occupied by a solid single lease tenant. SPI, LLC, Charlotte, NC has occupied the property under lease since February 1, 2020 running thru January 31, 2025 with a 2.0% annual rent increase and one 3-year renewal option.
The 26,000 sq ft facility is comprised of 23,000 sq ft warehouse area with 16' clear ceiling height with 4 dock doors and one drive in door. The approximately 3,000 sq ft office area has 4 offices, 2 restrooms, and a break room on the main level with additional 4 offices and a full kitchen and dining area on the mezzanine level plus additional storage areas. Zoned M 1R Commercial, the property has public electric and water and private sewer.
This property is strategically located in the heart of the Tri-Cities with immediate I-26 access via Exit 10 Eastern Star Road and within 2 miles of I-81 and I-26 interchange. Situated in an established commercial and industrial area near other businesses including Averitt Transportation, DHS Express and regionally recognized Phil's Dream Pit BBQ. Contact agent for further details including financials.
|
Additional Details
| Nearest MSA: |
Kingsport-Bristol |
| County: |
Sullivan |
| Tax ID/APN: |
08212002510 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
1,514 |
15,045 |
39,476 |
| Median Age: |
45.17 |
43.41 |
42.39 |
| Households: |
583 |
6,108 |
16,156 |
|
© Copyright 2001-2020 Catylist. All Rights Reserved.
The information presented herein is provided as is, without warranty of any kind.
Neither Northeast Tennessee Association of REALTORS® nor
Catylist Real Estate Software, Inc. assume any liability for errors or omissions.
|
