Sale/Leaseback opportunity on 100% occupied, well-located manufacturing/industrial facility. Company desires to sell at $3,500,000 (2014 appraised value), then lease back at $2.75/SF for a minimum of 10-20 years. Proposed lease will be a net bond lease where tenant is responsible for taxes, maintenance, insurance and general upkeep. Resulting cap rate is >11%.
Property originally constructed in 1970, but added to several times, doubling size to its current 157,500SF on ~10 acres. Up to 33' ceiling heights, 10 dock and 5 drive-in doors, 3% office. Construction is pre-engineered steel on concrete slab. 480 volt, 2,000 amp, 3-phase service. Several overhead cranes up to 40 ton capacity. Metal halite lighting and wet sprinkler system. Suspended gas heat in Manufacturing and warehouse areas; central HVAC in offices.
Property lies along a 4-6 lane major traffic artery (Preston Hwy-KY 61), 2 miles from I-65 at Fern Valley Road and Louisville Intl. Airport. Rail access at south boundary of site. Approximately 75 parking spaces in front service lot and unused space at rear of site could be used for parking. - Parking description: Typical asphalt surface lot - Area description: Predominantly industrial uses in immediate area with minor retail uses along Preston Highway. - Number of buildings: 1 - Building condition: Average - Tenancy: Single Tenant
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