Saw Mill for Sale Kentucky

Undisclosed, Campbellsville, KY 42718
Industrial for Sale
Catylist Listing ID: 30499591
Property Subtypes: Industrial-Business Park, Manufacturing, Warehouse/Distribution
Building Size (RSF): 716,455 SF
Gross Building Area: See Agent
Gross Land Area: 135.99 Acres
Sale Price: $60,000,000
Unit Price: $83.75 PSF
Office SF: 11,715 SF
Property Use Type: Business
Sale Terms: Undisclosed, Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/21/2019

Overview / Comments

A Kentucky-based manufacturer of superior-quality interior and exterior home building supplies including molding, solid hardwood doors, stair systems, and custom trim and millwork. This sale includes all real estate, all equipment, and all inventory.
135.99 total acres. 716,455 total SF under roof consisting of 11,715 SF of office space; 704,740 SF of lumber processing, shipping, door, trim, mouldings, all under roof.
The facility has a total of 40 buildings totaling 716,455 square feet plus another 2 open sheds totaling 6,730 square feet. A summary of all buildings is included on the attached documents. It includes building name, square footage (per plans), year constructed, actual age, and eave height. The building numbers correspond to those on the aerial map included earlier in the report. The new building is listed as No. 59 with an area of 10,500 square feet. The building was originally
constructed for use as a pre-dryer however the necessary equipment has not been installed and it is being used for storage. The building is not sprinkled, but is insulated. Those structures with square footages listed in the second column (FF&E/Shavings) are not included in the sale as they are considered to be personal property/FF&E. All buildings are sprinkled but the most recent.
The entire property has been updated with LED lighting in all buildings, and new energy saving control boxes were installed on all equipment. This has reportedly resulted in a savings of around $35,000 per month in utility bills. The total cost of this upgrade was $1,227,250 per invoices shared by the owner on the date of inspection. Additionally, a new roof was put on Building No. 5.
The functional utility of the improvements is adequate for the current use as
a sawmill/lumber processing facility, with the capacity for up to $140 Million in gross sales. However, given the economic downturn in the housing market since the mid 2000’s and facility’s drop off in sales from $100M to around $40M at current, some functional and economic obsolescence is warranted. Nonetheless, the improvements still contribute value and represent the highest and best use of the site.
The 40.47 acre vacant site consists of a lake that is piped to the 95.51 improved site to power with steam all electricity. The manufacturing facility uses the sawdust to power the Co-Generation plant that produces all the electricity for the plant and the unused electricity is sold to the local power company.
This facility has its own dry kiln, pump house, sawmill, dust building, special mill, arch department, banding/prime, truck wash, paint barn, shipping docks, shaver building, weight station, cooling tower, stacker, large truck shed, small truck shed, pre-dryer building, generator, leased storage, Co-Gen fuel storage, 2 special mills, offices, and many warehouses.

Additional Details

Nearest MSA: Campbellsville
County: Taylor
Submarket Type: Other
Zoning: INDUSTRIAL
Property Located Between: undisclosed
Highway Access: I-65
Rail Access: Yes
Airports: Taylor County Airport-AAS
Site Description: The subject has a total land area of 135.9878 acres in two non-contiguous tracts. On the north/west side of Old Columbia Avenue are 95.514 acres and all of the site and building improvements. The remaining 40.4738 acres is a vacant agricultural type tract with a lake, located on the south/east side of Old Columbia Avenue, with no frontage. The 95.514 acre tract is irregular in shape, with access from approximately 7 points along Old Columbia Avenue. There is no access from the KY-55 (New Columbia Road). The property fronts Old Columbia Road for approximately 2,200 feet and KY-55 for approximately 860 feet per aerial measurements. The tract is irregular in shape as shown by the previous aerial photograph. The topography of the site is generally level to slightly rolling, with the Old Columbia Road frontage being on grade and the site sloping up as moving west. The property is not located in the flood plain per the FEMA flood hazard. The 40.4738 acre tract is located on the east side of Old Columbia Avenue, with no frontage, and is accessed with a 40’ wide access easement which is approximately 1,600 feet long per aerial measurements. The property is irregular in shape, rolling in topography and has a lake in the center. Water is pumped from the lake under Old Columbia Road and to the cooling tower on the main site. The access road is asphalt for approximately 625 feet then transitions to gravel. The property was essentially carved out of the larger parent tract, which has since been sold off to an individual and then later to the city as a park. The lake encompasses approximately 3.5+/- acres of the site. Access to water and sanitary sewers would be available from KY-55.
Area Description: The city of Campbellsville is the county seat of Taylor County. Campbellsville is located in the southwestern part of the state, approximately 82.7 miles southwest of Lexington, Kentucky and 85.4 miles south of Louisville, Kentucky. Taylor County continues to exhibit slight upticks in total population, such as the 1.25% increase shown in the chart above. The Labor Market Area (LMA), which includes the counties of Casey, Boyle, Garrard, Rockcastle,Pulaski, Laurel, Marion, Mercer, Jessamine and Madison held steady in population also during the reporting years illustrated in the chart above. At a time when many Kentucky counties are projected to lose population, even a slight increase is notable. The single largest employment category in the county continues to be the Trade, Transportation, and Utilities sector with 31.2%. The Education and Health Services sector was a second largest with 14.6% of the total employment base. Manufacturing was again third with 9.8%. Major employment sectors for the Labor Market Area are similar with Manufacturing also posting the highest percentage rate of employment at 19.3% during the reporting time. Trade, Transportation and Utilities was a close second at 17.5% and Education and Health Services rounded out the top three in the LMA, at 14.6% for the reporting year of 2017. The local and regional employment base is diversified, which should help to insulate the area from occasional economic fluctuations.
Tenancy: Single Tenant
Total Number of Buildings: 40
Property Condition: Good
Roof Type: Arched
Parking Type: Surface
Sprinklers: Wet
Heat Type: Electricity, Steam, Other
Lighting: LED
Zoning Description: Industrial
Water Service: Municipal
Sewer Type: Municipal

Contact

Photograph of Listing Agent

Stephanie L Gilezan

EXP Realty LLC KCREA Member
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