Burton Avenue Industrial Properties
Industrial | 5.10% CAP
Marketing description
We are pleased to offer this value-add versatile +/- 31,881 SF industrial property on 1.32 acres with significant upside in rental rates and space optimization, and future redevelopment opportunities as this is located in an Opportunity Zone. The buildings have been thoughtfully improved over time and serve a diverse tenant mix - making the property ideal for both investors and owner-users seeking flexible space in a supply-constrained industrial market.
The property is priced at $6,250,000 with in-place NOI of $318,779. Property appraisals confirm that market rents in the submarket average approximately $10.50-12.00/SF NNN, with several referenced leases and comparable properties supporting an $11.00/SF NNN market benchmark. The appraisals’ sales comparables place local industrial values near $205/SF on average, with some recently improved buildings trading higher, up to $230/SF.
Investment highlights
Appraised at $6,500,000
100% occupied
Historical zero vacancy
Market rents: $11/SF NNN
Flexible interconnected warehouse bays; expansion capability
Food-production improvements in place
Submarket vacancy under 1%; sales comps averaging $249 PSF
Efficient operations with minimal landlord obligations
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