Industrial Space for Sale
Industrial
for Sale
| Catylist Listing ID: |
30852915 |
| Property Subtypes: |
Manufacturing, Light Industrial, Warehouse/Distribution
|
| Building Size (RSF): |
69,280 SF
|
| Sale Price: |
$6,500,000 |
| Unit Price: |
$93.82 PSF |
| Property Use Type: |
Net Leased Investment (NNN) |
| Sale Terms: |
Cash to Seller |
| Last Updated: |
9/19/2023 |
Overview / Comments
Industrial Building in I-2 Zoning for sale that consists of 69,280 sqft. The property is perfectly located 2 Miles from New Circle Rd, 3.8 Miles from Downtown Lexington, and 4 Miles from I-75. The Building is a multi tenant building (2 spaces) with Nippon Express renting 34,163 sqft with their lease expiring April 30th, 2024 with two five year options to extend. These extensions periods include rent escalations. First five year extension rents will be raised from the current annual rent of $191,316 to $210,444 if extended. If lease extended for second extension term annual rents will increase to $231,492. On the second extension term the tenant will also be required to pay an additional $0.35 per square foot for CAM fees.
The other 35,117 sqft is available space for lease. The vacant space comes with (3) 5 ton cranes and (1) 10 ton crane. It also has (2) functional loading docks (9x10) with dock levelers and (3) drive in doors (21x16). Around 1,000 sq.ft in office space and fully sprinkled.
The total building consists of 6 loading docks, 3 drive ins and a 26 ft clear height between the two spaces.
Electrical Capabilities: 400 amp 480 volt 3 phase circuit
|
Current Tenants
| Tenant Business Name |
Nippon Express USA |
| Website URL |
https://www.nipponexpress.com/us/en/ |
| Is Renting? |
Yes |
| SF of Space Occupied |
34,163 SF |
| Current Rent |
$191,316 PSF (Annual) |
| Options |
Two (2) additional periods of five (5) year options |
| Tenant Notes |
Nippon Express helps clients reduce costs and create internal efficiencies through our global logistics services, motor freight transport and forwarding, marine transport and freight forwarding, airfreight forwarding and other air cargo transport and forwarding services, household goods moving services, and railway forwarding. Nippon Express empowers firm to diversify their product offering through trade finance and procurement agency service, contract warehousing, facility design and construction, customs clearance, cargo insurance agency, freight packing and our global travel agency service. In addition, Nippon Express’ services include real estate property sales and rental services, security services, employee dispatching services, industrial waste disposal services and other sector services.
Clients choose Nippon Express for the best quality service at the lowest prices. Nippon Express has the geographic and sector expertise to help business reach core markets. The firm has cargo centers and logistics service operations across six continents; more than 1400 facilities in Japan plus a global network comprised of 383 subsidiaries and 62 associated companies delivering transport and logistics services.
Nippon Express covers abroad range of businesses, such as air and sea transport, warehousing, and moving services, connected across the globe with locations in 37 countries. Nippon Express’ leadership, vision and commitment to customers have made the company a leading provider of global logistics solutions and helping more businesses around the world become supply chain information-driven than any other company. |
Additional Details
| Nearest MSA: |
Lexington-Fayette |
| County: |
Fayette |
| Tax ID/APN: |
20080310 |
| Zoning: |
I-2 |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
1 |
| Sprinklers: |
Wet |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
7,622 |
76,796 |
158,171 |
| Median Age: |
35.32 |
33.6 |
35.11 |
| Households: |
3,113 |
29,944 |
64,123 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither Kentucky Commercial Real Estate Alliance nor
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