20 North Front Street, Bally, PA - Unit 4
Single Tenant NNN Warehouse Condo | 8.75% CAP | 13,484 SF
Marketing description
20 North Front Street - Unit 4 is a single-tenant industrial warehouse property located in Bally, Pennsylvania. The property features 13,484 square feet of rentable space with ceiling clearances ranging from 11 to 19 feet. The building is leased to Ira Green, Inc. a prominent U.S. manufacturer and distributor of military decorations, medals, insignia, and uniform accessories with annual revenue exceeding $20M. Founded in 1943 and headquartered in Providence, Rhode Island, this privately held company is one of the largest suppliers of accoutrements for the U.S. Department of Defense and military personnel worldwide. The company is backed by Main Street Capital Corporation (NYSE: MAIN), a principal investment firm and business development company that provides Ira Green, Inc. with long-term capital support. The tenant recently executed a 7-year lease extension brining their term to 8-years total.
Investment highlights
- Asking Price: $1,133,000 ($84.03/SF)
- Cap Rate: 8.75%
- Yr 1 Net Operating Income (NOI): $99,173
- Tenant(s): Single (1) - Ira Green, Inc.
- Remaining Lease Term (Years): Eight (8)
- Rentable SF: 13,484 SF
- Ceiling Clears: 11'-19'
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