NNN Warehouse Investment

Industrial for Sale
Catylist Listing ID: 29838974
Property Subtypes: Warehouse/Distribution
Building Size (RSF): 14,020 SF
Gross Building Area: 14,783 SF
Gross Land Area: 1.04 Acres
Sale Price: $1,200,000
Unit Price: $85.59 PSF
Ceiling: 16 ft.
Docks/Doors: 7 Doors
Office SF: 1,200 SF
Drive In Bays: 2 Bays
Property Use Type: Net Leased Investment (NNN)
Building Name: Fort Myers: NNN Investment Industrial Warehouse
Sale Terms: Cash to Seller
Cap Rate: 0.09%
Last Updated: 2/1/2017

Overview / Comments

Absolute NNN Warehouse Investment. Six (6) year (09.01.2015 to 08.31.2021) lease to Credit Tenant. 3% increase annually. Established (over 25 years) Florida North American Van Lines Franchisee. Sale included two additional parcels for future expansion.

Tenant has made the following upgrades to the building since moving in September of 2015. Exterior of building painted, updated office space (paint, ceilings, etc.), 4 mini split A/C's in office area, currently in the process of permitting for two (2) well docks, new water line from meter to building, cut down trees and etc around building.

• Absolute NNN Warehouse Investment
• Strong Credit Tenant - Family Business over 50 years
• Full Six Year Lease
• 3% increase annually
• One (1) six year renewal option
• Great Location in City of Fort Myers
• Tenant has made several update to building since 09.01.2015

Financials

Finance Data Year 2016
Potential Rental Income $112,160 (Annual)
Net Operating Income $112,160 (Annual)
Gross Operating Income $112,160 (Annual)
Down Payment $0

Additional Details

Nearest MSA: Cape Coral-Fort Myers
County: Lee
Taxing Authority: 44
Tax ID/APN: 5520900-5520900 & 244-44-24-P3-0230C.0330
Zoning: IL
Market Type: Large
Property Located Between: Franklin & Evans
Road Type: Paved
Highway Access: 4.5 Miles from I-75
Airports: Page Field 3.4 Miles
Area Description: Located in the City of Fort Myers. 4.5 Miles to I75
Tenancy: Single Tenant
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Year Built: 1979
Year Renovated: 2016
Parking Type: Surface
Parking Description: Surface
Overhead Cranes: Undisclosed
Legal Description: Blanks HB Resub BLK B PB 6 PG 10 Lots 1 thru 8 & Blanks HB Resub BLK C PB 10 Lots 33 thru 37

Attachments & Media



Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,521 68,898 168,309
Median Age: 40.7 39.73 43.38
Households: 4,357 28,556 71,412
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