Listed by NAI Beverly-Hanks
$5,500,000
195 Johnston Boulevard
Details
Property Type Retail, Industrial
Sub Type Storefront, Warehouse
Square Footage 83,706
Cap Rate 9.00%
Year Built 1949
Acreage 6.550
Zoning ind
Ground Lease No
About This Property for Sale
Marketing description
Outstanding opportunity for investors. Long term lease. 83,700 SF Building on 6.5 acres with a single business/lease of surplus building materials. Business is 20 years old. Cap rate of 9%.
Investment highlights
- Pop’s Discount Building Materials has operated from this location for 20 years.
- Currently, there is a 20-year lease, which is very advantageous to the landlord. Nineteen years remain on the lease.
- The business’s main focus is doors, but it also sells flooring, cabinets, kitchen items, and windows.
- The tenant is responsible for all deferred maintenance.
- The only landlord expense is the real estate taxes.
- The 83,706 SF building sits on a 6.55-acre parcel.
- Additional gross income is from a Verizon-contracted cell tower.
Listing Contacts
Listed by NAI Beverly-Hanks
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