[SOLD!] Warehouse and office space with easy interstate access

This distribution warehouse is an approximately 29,466 SF metal frame building. There is about 2,150 SF of conditioned showroom and office space, and approximately 27,316 SF of warehouse space. Inside the office space, there are four offices, a showroom, 3 bathrooms (one of which has a shower), and a break room. The HVAC in the office was replaced at the end of 2016.
The warehouse breaks down as follows:
  • 21,850 SF of enclosed, sprinkled, unconditioned space serviced by an 1,800 SF loading dock with three 16′ x 12′ bay doors and a drive-in bay door in the front
  • 5,466 SF of sprinkled, unconditioned space with all but the rear wall accessed by one of two 16 foot wide, overhead bay doors in the rear (one is not reflected in the attached floorplan).
  • The rear, covered space has a concrete floor that extends into an additional 5,165 SF rear storage area that could easily be enclosed (not included into the total square footage).
  • Not included in the total square footage, there are a few mezzanines with stairways built out inside of the main warehouse space that add a few thousand more square feet of usable space.

The ceiling height is 20-21 feet, and the building was built in 1983-1984. The property is zoned M-1.

The building sits on a 2.21 acre lot with an approximately 23,000 SF paved, fenced storage yard in front and an additional 5,000 SF uncovered, concrete pad in the rear that is secured by fencing. To the left of the fenced lot is a graveled lot, situated outside of the fencing, which currently serves as the parking for employees and visitors.
The front is paved and perfect for tractor trailer pickup and deliveries, as well as customer pickups. The current tenant receives at least 3 tractor trailers a day and has no problem with the trucks getting in and out, even with their extensive use of the outside lot for storage.
The current tenant is moving to a larger facility at the end of 2017, so it will be vacant and ready for an owner-occupant or a new tenant. We want to close on this sale in mid-November, giving the remaining month and half of income left in the year to the buyer.
The monthly income from all sources is $13,825.00:
  • The lease payment for the warehouse tenant is $12,000/month.
  • There is a long term, cellular tower land lease in place that generates $1,825.00/month that just renewed for their latest 5 year option. They have two more options at 5 years each left on their current lease with a rent bump of 15% with each option.
The racks that are in place can be left or removed by the owner, depending on the needs of the buyer.
Price: $1,450,000
Address:2800 Ackley Ave
Zip Code:23228
Year Built:1983
Square Feet:29,466
Lot Square Feet:2.21 acres

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