Sale/ Leaseback Opportunity

Industrial for Sale
Catylist Listing ID: 29964806
Property Subtypes: Free-Standing, Manufacturing, Net Leased
Building Size (RSF): 15,530 SF
Gross Building Area: 15,674 SF
Gross Land Area: 1.70 Acres
Sale Price: $1,300,000 - 1,371,000
Unit Price: $83.71 - 88.28 PSF
Ceiling: 20 ft.
Office SF: 5,168 SF
Property Use Type: Investment
Sale Terms: Sale/Leaseback
Cap Rate: 7.0%
Last Updated: 8/18/2017

Overview / Comments

The current owner of the property is The Lathan Company Inc. Information on the company can be found at www.lathancompany.com.

The current owner will sign a 10-12 year lease. They are currently paying $6.18/s.f. for the property and will continue to do so for a new owner/investor. The NOI at this rate is $96,000. Rent increases in the lease can be negotiated as well.

The property is located in front of the Mobile Commerce Park and surrounded by numerous industrial uses. Its conveniently located 1.4 miles from I-10.

Additional Details

Nearest MSA: Mobile
County: Mobile
Tax ID/APN: 3307370004046.005
Zoning: B5
Property Located Between: Southeastern Freight Lines and Southern Earth Sciences
Highway Access: 1.4 Miles from I-10
Site Description: 1.7 acres of which half is fenced.
Area Description: Located along an industrial and business corridor in Mobile, AL. Excellent visibility on for this property.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 2,584 SF
Property Condition: Good
Year Built: 2000
Roof Type: Flat
Construction/Siding: Brick, Concrete - Tilt up
Parking Type: Surface
Lot Frontage: 246
Lot Depth: 330
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,957 18,128 76,772
Median Age: 43.87 40.71 38.72
Households: 748 7,133 29,515

Contact

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