Multi tenant industrial

Industrial for Sale
Catylist Listing ID: 30321657
Property Subtypes: Flex Space, Industrial-Business Park, Manufacturing, Light Industrial, Office Showroom, Warehouse/Distribution
Building Size (RSF): 47,486 SF
Gross Land Area: 7.47 Acres
Sale Price: $1,500,000
Unit Price: $31.59 PSF
Docks/Doors: 2 Docks
Office SF: 2,000 SF
Drive In Bays: 2 Bays
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Building Name: Ferragamo Holdings , Inc
Usable Size (USF): 16,000 SF
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Last Updated: 9/18/2019

Overview / Comments

This property is made up of 5 units. 16,000 sf currently used by owner can be made available to end user or possible lease back .
2 units with drive in doors are 3600sf each. Both rented under market.
1 unit of approximately 12,000 sf and leased to a National Tenant for the next 4 years with options to renew.
1 unit of 12,000sf currently used by a non profit and could vacate if needed
Owners occupy 16000sf and will relocate if needed.
The Communication tower is a National tenant leased until 2027 with options.

Net income is $131,637 based on current rents and what seller would pay if they were to stay.. Could be leased for more. All units undervalued.

Attachments & Media

Additional Details

Nearest MSA: Providence-Warwick
County: Kent
Tax ID/APN: WK 291 51
Zoning: LT INDUSTRIAL
Property Located Between: Rt 117 Warwick Ave and Rt 1 Post Rd
Highway Access: 7 minutes to interstate
Airports: 10 minutes south
Site Description: flat terrain, corner
Area Description: Industrial Park
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1970
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface
Freight Elevators: 1
Sprinklers: Wet
X-Phase: 3
Heat Type: Electricity, Natural Gas
Heat Source: Central, Ceiling Units
Air Conditioning: Engineered System
Lighting: Fluorescent, High Pressure Sodium
Internet Access: Cable
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,713 140,590 345,967
Median Age: 42.65 37.57 37.17
Households: 6,519 53,824 132,354

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