Listed by SURMOUNT
$7,475,000
Basin Industries
Details
Property Type Industrial
Sub Type Manufacturing
Square Footage 78,361
Cap Rate 7.5%
NOI $560,625
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 20
Remaining Term 20
Rent Bumps Yes
Lease Options 4, 5-Year Options
Year Built 1980
Year Renovated 2008
Acreage 7.530
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Ownership Fee Simple
About This Property
Marketing description
Surmount is pleased to present the exclusive listing for a Basin Industries property located at 240 South Meridian Road, Mitchell, IN 47446. The site consists of roughly 78,000 rentable square feet of building space on an estimated 7.53-acre parcel of land. Basin Industries is subject to a 20-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $560,625 and has scheduled increases of 2.00% annually.
Investment highlights
- Strong Corporate Guarantee | This property features a corporate guarantee from Basin Industries, which operates 5+ facilities across Illinois, Kentucky, Indiana, New Jersey, & South Carolina, and is continuing to expand its footprint across the United States.
- Brand New, 20-Year Sale-Leaseback | This site benefits from a new 20-year triple-net sale-leaseback from Basin Industries, which presents a rare opportunity to acquire an owner-operated industrial facility through a structured sale-leaseback transaction.
- Attractive Rental Increases | The lease includes attractive 2.00% annual rental increases, offering predictable income growth and a hedge against inflation over the term of the lease.
- Mission Critical Facility | This Basin Industries location is a mission critical facility and is a key focal point of the underlying operating business while being strategically located along the broader company’s supply chain.
- Proximity to Bloomington Metropolitan Area | The subject property benefits from being located approximately 30 miles from Bloomington, Indiana which is home to Indiana University and the over 89,000 collectively enrolled students.
- Proximity to State Road 37 | The site benefits from convenient access to a major north-south transportation corridor supporting regional distribution and logistics to nearby Louisville and Indianapolis.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$560,625.00
$46,718.75/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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