Listed by SVN / Landmark Commercial Real Estate LLC
$1,695,000
Single Tenant Industrial Investment
Details
Property Type Industrial
Sub Type Manufacturing, Warehouse
Square Footage 37,000
Cap Rate 8.63%
NOI $146,290
Occupancy 100%
Tenancy Single
Brand/Tenant Olon Industries
Lease Type NNN
Lease Term 3
Lease Expiration 09/30/2027
Remaining Term 1.2
Rent Bumps Yes
Lease Options (2) 1 year
Price per SqFt $46
Broker Co-Op Yes
Class B
Year Built 1935
Buildings 1
Stories 1
Acreage 2.680
Investment Type Stabilized
Lease Commencement 10/01/2024
Ceiling Height 17
Loading Docks 3
Manufacturing facility with sticky tenant
Marketing description
Single tenant investment opportunity. 37,000sf freestanding industrial building on 2.68 acres. Heavy power. 3 docks and 1 drive-in door. 12’ to 17’ clear. Brand new 10’x10’ storage shed in rear. EPA NFR letter on file.
The tenant, Olon Industries, manufactures woodworking components for furniture and cabinets, and has been in business for over 40 years. They have been tenants since 2007, and signed a new 3-year lease in September 2024 with (2) 1-year options. Tenant has invested heavily in the building infrastructure as it is a critical part of their North American operations. Under the triple net lease structure, the tenant pays for real estate taxes, insurance, and general maintenance; landlord is only responsible for the roof.
Listing Contacts
Listed by SVN / Landmark Commercial Real Estate LLC
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$146,290.00
$12,190.83/mo
Valuation Metrics
0
DSCR
8.63%
Cap Rate
8.63%
ROI
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