Industrial Warehouse Space
Industrial
for Sale
| Catylist Listing ID: |
30385482 |
| Property Subtypes: |
Industrial-Business Park, Light Industrial, Warehouse/Distribution, Other
|
| Building Size (RSF): |
41,489 SF
|
| Gross Building Area: |
See Agent |
| Sale Price: |
$3,400,000 |
| Unit Price: |
$81.95 PSF |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Sale Terms: |
Undisclosed, Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
11/14/2019 |
Overview / Comments
Southeast Commercial is pleased to present a Single Tenant Net Lease Industrial Investment aggressively priced at a 10% cap rate with 8 years remaining on the primary term. Property is situated in Gulfport's Industrial Park on Seaway Road just west of Hwy 605. Tenant, Gulf Coast Laundry, operates a large commercial laundry business which services many of the casinos, hotels, and restaurants in the Gulf South Region. The building was constructed by the current owner in 1997 for the specific use as a commercial laundry facility, with an addition added in 2015. The previous operator sold the business to the current tenant, CCSL Biloxi, LLC, dba Gulf Coast Laundry, in 2015, and a new 10-year NNN lease was signed by tenant in 2016. Tenant is very stable with strong business ties in the region.
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Additional Details
| Nearest MSA: |
Gulfport-Biloxi-Pascagoula |
| County: |
Harrison |
| Tax ID/APN: |
0909H-01-003.004 |
| Number of Stories: |
2 |
| Property Condition: |
Good |
| Year Built: |
1998 |
| Year Renovated: |
2005 |
| Zoning Description: |
I-2 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
4,274 |
35,038 |
89,951 |
| Median Age: |
36.98 |
35.5 |
36.2 |
| Households: |
1,237 |
13,811 |
35,417 |
|
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