KY Absolute Net-Leased Industrial - 17 Years Remaining
Absolute Net-Leased Industrial - 17 Years Remaining
Marketing description
4701 Allmond Avenue, Louisville, KY
» +/- 156,933 SF Building
» +/- 8.41 AC Land Area
» 10 Dock Doors and 1 Drive-In Doors
» New Section Built in 1996 with 29' Clear
» Adjacent to Louisville International Airport and UPS Worldport air hub
» Approximately 6 miles from Downtown Louisville, KY
» Existing Precision Metal Works Lease |Louisville Facility
» Initial 20-Year Absolute Net Lease, 17+ Years Remaining
» $5.15 per SF | Absolute Net Lease with 2.0% Annual Increases
» $808,556 Net Operating Income
111 Commerce Blvd, Frankfort, KY
» +/- 73,860 SF Building, Built in 1988-1997
» +/- 7.43 AC Land Area
» 2 Dock Doors and 4 Drive-In Doors
» 30' Avg. Clear [Up to 36' Clear]
» Located in Frankfort, KY — the Capital of Kentucky
» Approximately 20 miles from Downtown Lexington, KY and 56 miles from Downtown Louisville, KY
» Existing Precision Metal Works Lease |Frankfort Facility
» Initial 20-Year Absolute Net Lease, 17+ Years Remaining
» $6.03 per SF | Absolute Net Lease with 2.0% Annual Increases
» $445,416 Net Operating Income
Investment highlights
The Absolute Net-Lease Portfolio consists of two (2) industrial properties leased to Precision Metal Works.
Precision Metal Works occupies two Kentucky manufacturing facilities totaling 230,793 square feet. The 156,933-square-foot Louisville property at 4701 Allmond Avenue is adjacent to Louisville Muhammad Ali International Airport and in close proximity to the UPS Worldport global air hub. The 73,860-square-foot Frankfort facility at 111 Commerce Boulevard is located in Kentucky’s capital city with immediate access to Interstate 64 and major regional highways.
The tenant has previously executed a 20-year Absolute Net lease with 2.0% annual rent escalations. The portfolio has a remaining weighted average lease term (WALT) of 17.1 years.
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