Listed by SURMOUNT
$7,995,000
PSI Molded Plastics HQ
Details
Property Type Industrial
Sub Type Distribution, Flex
Square Footage 94,400
Cap Rate 7.41%
NOI $592,472
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Expiration 05/08/2032
Remaining Term 5.9
Rent Bumps Yes
Lease Options 4, 5-year
Price per SqFt $85
Year Built 1980
Year Renovated 2017, 2020
Buildings 1
Acreage 8.660
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 05/09/2013
Ground Lease No
Dock High Doors 7
Sale Condition N/A
Leading Manufacturer Of Injected Molded Products | Absolute NNN | 2% Annual Rent Bumps
Marketing description
Surmount is pleased to present a PSI Molded Plastics located at 5 Wickers Drive, Wolfeboro, NH 03894. The site consists of roughly 94,400 rentable square feet of building space on an estimated 8.66-acre parcel of land. This PSI Molded Plastics is subject to a 20-year Triple Net (NNN) lease, which commenced 5/9/2013. The current annual rent is $592,472 and has scheduled increases of 2.00% annually.
Investment highlights
- Rare Absolute Triple Net (NNN) Industrial Lease | Zero (0) Landlord Responsibilities | The lease of the subject property is a true absolute triple-net with zero landlord responsibilities, offering a prospective landlord with truly passive income which is rare for an industrial asset.
- Two Percent (2.00%) Rental Increases | Potential Hedge Against Inflation | The lease of the subject property features two percent rental increases annually, offering a future landlord with a potential hedge against inflation.
- Original Twenty (20)-Year Sale Leaseback | Approximately 6.5 Years of Lease Term Remaining | Four (4), Five (5)-Year Options | The subject property was an original sale leaseback organized by the current tenant, showing a strong commitment to the site. There are approximately 6.5 years of lease term remaining on the original twenty-year lease.
- Strong Corporate Guarantee | Three (3) Injection Molding Business Merged To Form PSI Molded Plastics in 2017 | GI Plastek Corp. Precision Southeast Inc. and its subsidiary Plastic Solutions Inc. merged to form PSI Molded Plastics in 2017. Gladstone Investment Corp, which owned the individual companies, is the owner of PSI Molded Plastics.
- Heavily Specialized & Capital Intensive Equipment | End-to-End Manufacturing Integration | Specialized Workforce | Quality & Certification Anchored To The Facility | The subject property's plastic injection molding presses (220-2100 tons) are not only expensive to purchase, but costly to relocate. Moving them requires disassembly, rigging, recalibration, and reinstallation which creates a major economic barrier to leaving. PSI's Wolfeboro does not just mold parts--their services include Engineering + product development. Multiple molding techniques (structural foam, gas assist, etc). Finishing, painting, EMI shielding, and Assembly, printing, & packaging. This full-service, vertically integrated model creates interdependencies across departments. Relocating would mean building significant infrastructure, not just moving machines.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$592,472.00
$49,372.67/mo
Valuation Metrics
0
DSCR
7.41%
Cap Rate
7.41%
ROI
Map
Zoning
PHRDD SpecialPine Hill Road Development District
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