Investment Opportunity on Schillinger Road

Industrial for Sale
Catylist Listing ID: 30404827
Property Subtypes: Net Leased, Warehouse/Distribution
Building Size (RSF): 93,400 SF
Gross Building Area: See Agent
Gross Land Area: 8.40 Acres
Sale Price: $5,369,000
Unit Price: $57.48 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Educators Resource Distribution Center
Sale Terms: Cash to Seller
Cap Rate: 6.5%
Average Occupancy Rate: 100
Last Updated: 4/15/2019

Overview / Comments

Quality industrial investment opportunity with existing long term tenant with a proven business record in Mobile County, AL

Rent increases 2% each year, average NOI $349,000

Only landlord maintenance responsibility is exterior skin exclusive of roof. All other expenses are tenant's responsibility

93,400± total SF, with 84,200± SF warehouse and 9,200± SF office

Fully sprinklered and metal Halide lights in the warehouse area

Built in 1984 with addition and renovations in the mid 1990s

Additional Details

Nearest MSA: Mobile
County: Mobile
Tax ID/APN: R022407360000004.001.

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 28,001 69,277
Median Age: 37.49 36.09
Households: 10,218 26,123

Contact

Photograph of Listing Agent

Jeremy B Milling

Milling Commercial Realty Gulf Coast CMLS Member
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