Listed by Sands Investment Group
$1,885,715
Utility Line Construction Services - Lake City, FL
Details
Property Type Industrial
Sub Type Distribution, Manufacturing
Square Footage 7,750
Cap Rate 7%
NOI $132,000
Occupancy 100%
Tenancy Single
Brand/Tenant Utility Line Construction Services
Lease Type NNN
Lease Term 3
Lease Expiration 11/30/2027
Remaining Term 1.5
Rent Bumps Yes
Lease Options 1 x 3 Year Options
Price per SqFt $243
Year Built 2007
Acreage 0.520
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 12/01/2024
Ground Lease No
Utility Line Construction Services (Asplundh Subsidiary) | 7,750 SF Flex Facility | Tax Free State
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 7,750 SF Utility Line Construction Services facility located at 165 NW Amenity Court in Lake City, FL. This property is leased to Utility Line Construction Services (ULCS), a subsidiary of Asplundh, which generates an estimated annual revenue of approximately $5.7 billion to $6.2 billion. The flex space serves as a central hub, dispatch center, and training facility for ULCS operations, providing investors with a stable tenant backed by a large, established organization and offering a strong investment opportunity.
Investment highlights
- Leased by utility line construction services, a subsidiary of Asplundh, with an estimated annual revenue of roughly $5.7 billion to $6.2 billion.
- Flex space used as a central hub, dispatch center, and training facility for ULCS.
- Significant investment by the tenant into the buildout and customization of the property.
- 10% increases at each 3-year option.
- Formed in 2000 from small beginnings, ULCS now boasts more than 2,300 non-union employees in 15 states safely performing utility transmission and distribution infrastructure work throughout the Mid-Atlantic, the Delmarva Peninsula, the Southeast, and the South regions of the United States.
- ULCS is part of Asplundh Infrastructure Group. As an Asplundh company, ULCS is backed by a nearly 100-year-old, financially solid, privately held company with over 36,000 employees providing utilities with vegetation management services and transmission and distribution infrastructure services.
- The "government" and "public utility" revenue for companies like ULCS is currently surging due to the Florida Grid Resiliency Program. The State of Florida has allocated billions toward "hardening" the grid - moving lines underground and replacing wood poles with concrete/steel. Because ULCS has a massive non-union workforce (over 2,300 employees), they are often selected by North Florida municipalities because it can scale up quickly for large-scale "hardening" projects that smaller local contractors cannot handle.
Listing Contacts
Listed by Sands Investment Group
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$132,000.00
$11,000.00/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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