14th North Flex Space
Listing was updated at: 08/02/2019
Property Overview
Price/Rent PSF $ 1,200,000.00
Asset Type Industrial
Trade Type Sale
SQ. FT. Available 14,400
Date Available 08/02/2019
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Description

Location
Coming from the south on Hitt road turn east onto 14th N right before Lincoln Rd.

Sale
2728 East 14th North is a 14,400 square foot industrial flex space building that was built in 2016. The building was designed with 6,000 square feet of warehouse in the back for an owner-occupied shop and 6 individually metered spaces in the front to be leased out as investment income. The industrial subdivision is located next to the future site of Costco with an opening date of 2021.

Net Operating Income is $86,617/annual or 7.2% cap rate. All tenants are in short term leases due to the nature of their small businesses. Lease rates are $.60/month gross with Tenant paying for all utilities, landlord pays NNN. Each tenant entitled to 2 parking spots.

Currently, space is being utilized as the following configuration:
1 - 1,200 square foot spaces (North West side)
3 - 1,000 square foot spaces (North West side)
1 - 4,200 square foot space (North East side)
1 - 6,000 square foot space (6 units combined in the south of the building)

The building is designed with all utilities to each suite (see building plans) and can be converted back to smaller or larger spaces as tenants need change. The building has an active camera system around the entire building for tenant and owner security. Each space comes with a 14-foot garage door and man door.

Location