$7,250,000
$7,329,006
1.1%For more information regarding the value of a property, please contact us for a free consultation.
111,540 SqFt
SOLD DATE : 06/25/2021
Key Details
Sold Price $7,250,000
Property Type Commercial
Sub Type Investment
Listing Status Sold
Purchase Type For Sale
Square Footage 111,540 sqft
Price per Sqft $64
MLS Listing ID 2005038
Sold Date 06/25/21
HOA Y/N No
Total Fin. Sqft 111540
Year Built 1996
Annual Tax Amount $155,106
Property Description
Long term, absolute NNN lease warehouse manufacturing office property with approximately 10 years remaining on lease and scheduled lease bumps. Tenant has occupied the building since it was built and has been in business for over 60 years. Absolute net lease with no landlord responsibilities. Major long term upside as the lease rate is below market. I-380 visibility, high quality, high bay tilt up concrete construction built by Ryan Companies. Features 10 docks and 1 drive in OHD. Climate controlled warehouse. Excess site allows for future expansion, outside storage or a future building. Members of ownership are licensed Realtors in the state of Iowa.
Location
State IA
County Linn
Area Hiawatha/Robins
Zoning C-4
Interior
Interior Features InteriorFeatures
Heating Central, Gas
Flooring Metal
Fireplace No
Exterior
Garage Off Street
Utilities Available Electricity Available, Natural Gas Available
Water Access Desc Public
Roof Type Membrane
Parking Type Off Street
Building
Building Description Concrete,Stone Veneer,Tilt-Up, Kitchen Facilities,Loading Dock,Overhead Doors,Private Restrooms,Pole Sign,Single-Tenant
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Concrete,Stone Veneer,Tilt-Up
Others
Tax ID 113220100500000
Security Features Security System,Security Lights
Acceptable Financing Cash, 1031 Exchange
Listing Terms Cash, 1031 Exchange
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Bought with Cedar Rapids Area Association of REALTORS
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