Listed by Marcus & Millichap - Cleveland
$8,050,000
1649 Broadway
Details
APN 0406001002100, 03266-0045
Property Type Industrial
Sub Type Flex, Manufacturing
Square Footage 118,172
Net Rentable (SqFt) 118,172
Cap Rate 8.17%
NOI $658,040
Occupancy 100%
Tenancy Single
Lease Expiration 09/30/2031
Rent Bumps Yes
Lease Options 2 x 5 year
Pro-Forma Cap Rate 8.17%
Price per SqFt $68
Class B
Year Built 1974
Buildings 1
Stories 1
Acreage 10.930
Zoning CM
Parking Spaces 2.30 per 1,000 sq ft
Investment Type Stabilized
Ground Lease No
Ceiling Height 21
Dock High Doors 6
Sale Condition N/A
Industrial | 8.17% CAP | 118,172 SqFt
Marketing description
1649 Broadway is a 118,172 square foot Industrial flex building. Office area is limited to approximately 8.5% of the total area. It is located in Hanover PA, near the Maryland state line and is in proximity to the York, Harrisburg, and the Upper Chesapeake Bay markets. The design and layout will allow the ownership to reconfigure to a multi tenant asset if required. The ceiling height and power also make the building attractive to manufacturing tenants in addition to distribution. In addition to rental income, the 702 kW solar panel system produces $25,000 and up to $50,000 of income, depending on weather and demand.
Investment highlights
- STNL Industrial Asset
- Well Established International Tenant
- Building Supports Multi-tenant Configuration
- Flex Office Area
- Income Producing Solar Panel Array
Listing Contacts
Listed by Marcus & Millichap - Cleveland
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$658,040.00
$54,836.67/mo
Valuation Metrics
0
DSCR
8.17%
Cap Rate
8.17%
ROI
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