Armour-Eckrich Foods Net Leased Distribution Warehouse

Industrial for Sale
Catylist Listing ID: 30164506
Property Subtypes: Cold Storage, Food Processing, Free-Standing, Manufacturing, Net Leased, Warehouse/Distribution
Building Size (RSF): 10,082 SF
Gross Building Area: See Agent
Gross Land Area: 0.70 Acres
Sale Price: $625,000
Unit Price: $61.99 PSF
Ceiling: 16 ft. Clear
Docks/Doors: 1 Dock
Office SF: 1,600 SF
Drive In Bays: 2 Bays
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 7.52%
Average Occupancy Rate: 100
Last Updated: 12/22/2017

Overview / Comments

Green Bridge Real Estate is pleased to offer a Rare Distribution Warehouse Single Tenant Net Leased investment property located at 15751 Commerce Park Drive in Brook Park, Ohio 44142. The Investment is a Single Tenant, 100% NN leased (owner responsible for insurance) to Armour Eckrich Meats LLC (a subsidiary of Smithfield Foods). The original lease was executed in 1968 and was just renewed until May 31, 2022. The 10,082 Sq.Ft. building was built in 1968 on approx. .70 Acres consisting of 7,200 Sq.Ft. of Warehouse, 1,600 Sq.Ft. of Office and 1,300 Sq.Ft. of Cooler space with 16’ clear heights and 1 dock and 2 drive ins. This property is ideally located near I-71 and I-480. Only 10 minutes southwest of Cleveland. Smithfield Foods boasts $14.4 Billion in companywide sales with 52,000 employees. Offered at a 7.52% Capitalization Rate at the Asking Price of $625,000 or $62 per Sq.Ft. Ideal 1031 Tax Exchange property, please consult your tax professional for more details.

Additional Details

Nearest MSA: Cleveland-Elyria
County: Cuyahoga
Taxing Authority: Cuyahoga County
Tax ID/APN: 343-07-155
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1968
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,929 116,239 378,365
Median Age: 40.95 41.09 39.62
Households: 5,560 50,238 160,594
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