291036

 

 

 

Multi-Tenant Investment Opportunity
3014 – 3020 E. Progress Drive
West Bend, WI 53095

Asking Price: $1,700,000
Asking Lease Rate:
$$5.00/SF NNN Warehouse
$8.50/SF NNN Office

Executive Summary
This multi-tenant investment property is being offered as a fee simple investment opportunity. The property consists of (8) eight industrial condominiums being combined and sold as a (partially long-term) sale-leaseback, with 3 of the units vacating upon the sale. Please discuss the leaseback terms of the 2 tenants with the Listing Broker.

Investment Highlights:
In Place Cap Rate: 
5.2%
Pro Forma ROI: 12.87% (10% vacancy factor, 7.5% reserves and management fees)
Pro Forma Cap Rate: 8.35% (4.75% interest, 25 year amortization, 75% LTV)

Property Highlights
Building Size: 22,417 SF
Total Available: 5,974 SF
Max. Contiguous: 5,974 SF
Min. Divisible: 2,987 SF
Lot Size: (2) Two Acres
# Units: (8) Eight, fully demised and condominiumized
Construction: Masonry and Metal
HVAC: Central air – office, modines and partial air – warehouse
Year Built: 1993 – 1996
Clear Height: 16’4” – 19′
Power: TBV
ADA Compliant: Yes
Sprinkler: No
Roof: Metal – Pitched (resealed Fall 2013)
Zoning: Industrial (M-3)
Parking: Ample – Asphalt Lot – 50+ spaces
Loading: Large 12’x14′ drive-in door in most units, exterior loading dock with leveler
Internet: High speed – fiber served
Mezzzanine: Second level storage
Property Taxes: $23,991 (8 units combined)

Notes:
• 3.65 acre parcel of vacant land (contiguous) for sale separately (asking $275,000)
• Parking easement available on adjacent property could provide parking for an additional (24) twenty four vehicles (not included in purchase price).

Property Features
  • ADA Accessible
Location