Listed by Kidder Mathews
$9,700,000
SALE-LEASEBACK INDUSTRIAL OPPORTUNITY | 6.00% CAP
Details
Property Type Industrial
Sub Type Distribution, Manufacturing
Square Footage 40,081
Units 1
Cap Rate 6.00%
NOI $577,166
Occupancy 100%
Tenancy Single
Brand/Tenant BendPak
Lease Type NNN
Rent Bumps Yes
Lease Options 2 x 5-Year
Price per SqFt $242
Broker Co-Op Yes
Class A
Year Built 2019
Acreage 3.560
Investment Type Sale/Leaseback
Ground Lease No
Loading Docks 4
Dock High Doors 4
Sale Condition Sale for leaseback
Excess Yard Space | Rent Increases + Options
Marketing description
The asset is a mission-critical facility for BendPak, serving as a core logistics hub for the company's Western U.S. distribution network. The subject property was designed and built by BendPak in 2019 as an addition to their West Coast distribution. This investment demonstrates BendPak's long-term commitment to the asset and area.
Investment highlights
Investment Highlights
- Asking Price: $9.7M ($242/SF).
- Cap Rate: 6.00% with a Net Operating Income (NOI) of $577,166.
- Lease Structure: A 5-year Triple Net (NNN) lease will commence upon closing, featuring 3% annual rent escalations.
- Tenant Commitment: BendPak designed and built this facility in 2019, and it serves as a "mission-critical" core logistics hub for their Western U.S. distribution network.
Property Features
- Building Size: 40,081 SF situated on a 3.56-acre lot, including 33,616 SF of excess land.
- Modern Construction: 2019 concrete tilt-up with clear heights of 24'–26' and minimal columns.
- Loading Capabilities: Equipped with four (4) 10'x10' dock-high doors and two (2) 12'x12' grade-level doors.
- Power & Utility: 1,200A power supply (240/110V) and a dedicated forklift charging station.
- Office/Showroom: Includes a 710 SF (approx. 2%) office and showroom area.
Location & Market Overview
- Strategic Access: Located directly off Highway 126 in the Lemonwood Industrial Park, the highest quality business park in Santa Paula.
- Proximity: The site is 12 miles from HWY 118, 28 miles from I-5, and 22.5 miles from Port Hueneme.
- Strong Market Fundamentals: Ventura County maintains a low industrial vacancy rate (approx. 2.7%–5.4%). Future supply is strictly limited by the SOAR initiative, which restricts industrial development through 2050.
- Surrounding Growth: Minutes from the "Harvest at Limoneira" development, a 500-acre project bringing over 2,000 new residential units to the immediate area.
Listing Contacts
Listed by Kidder Mathews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$577,166.00
$48,097.17/mo
Valuation Metrics
0
DSCR
5.95%
Cap Rate
5.95%
ROI
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