Listed by SURMOUNT
$5,826,667
Basin Industries
Details
Property Type Industrial
Sub Type Manufacturing
Square Footage 75,795
Cap Rate 7.5%
NOI $437,000
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 1977
Year Renovated 2022
Acreage 34.550
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Ownership Fee Simple
About This Property
Marketing description
Surmount and Bang Realty is pleased to present the exclusive listing for a Basin Industries property located at 2671 Owingsville Road, Mount Sterling, KY 40353. The site consists of roughly 75,795 rentable square feet of building space on an estimated 34.55-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 $437,000 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.
- Close Proximity to Lexington & Richmond | This Basin Industries facility is located within close proximity to Lexington & Richmond, KY, which are home to the University of Kentucky and Eastern Kentucky University. Both institutions have over 54,000 students collectively enrolled.
- Located along Interstate-64 | The subject investment property benefits from being located along Interstate-64, which is a major thoroughfare and provides direct access to Louisville located approximately 100 miles away.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$437,000.00
$36,416.67/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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