616 S 2nd St
THIS OFFERING is for the opportunity to purchase an affordable single-tenant net leased industrial property with a new 5-year lease intentionally signed at a below market rent commencing 8/1/19. The existing tenant, All Metal Solutions, a local custom metal fabrication shop, has occupied the building since 5/26/16. The lease was intentionally structured to create a simple, transparent sale opportunity that limits risk to an investor while providing both for a likely simple, quick sale offering at an offered price being at or below fair market value. The advertised NOI calculation includes both a 5% vacancy factor and 2% capital replacement reserve subtracted from the gross annual income. Asking price equates to an 8 cap.
Listing courtesy of Almon Commercial-Residential Real Estate