Investment Opportunity at 5416 & 5500 E Morgan Ave

Industrial for Sale
Catylist Listing ID: 30729594
Property Subtypes: Free-Standing, Mixed Use, Warehouse/Distribution, Other
Building Size (RSF): 60,177 SF
Gross Land Area: 8.78 Acres
Sale Price: $3,000,000
Unit Price: $49.85 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Sterling Boiler & Mechanical Inc.
Usable Size (USF): 60,177 SF
Sale Terms: Cash to Seller
Cap Rate: 7.93%
Last Updated: 9/17/2021

Overview / Comments

Cap Rate: 7.93%

Gross Operating Income: $295,440

Net Operating Income: $237,840

Secured fenced facility.

Heated buildings

Metal free span buildings with metal roofs.

1 small brick office and manufactured triple wide.

Main Building with office space 1st Large Shop: (Warehouse #1)

- kitchenet

- maintenance room

- 3 restroom

-9 20'overhead doors / one overhead door has been converted to a tool shed.

-Ceiling heights 23' (bottom truss)

-1 10-ton crane

-12 1-ton jib crane

2nd Large shop: (Warehouse #2)

- 12 overhead doors

- 25' ceiling height

- 2 10-ton cranes

- 2 5-ton cranes

- 2 1-ton jib crane

- 1 2-ton jib crane

- 30x40 welding room

- Large breakroom with showers, lockers, and restrooms.

Small shop:

- 1 large sliding door

- 2 overhead door

- 5 ton gantry crane

- 1 restroom

Additional Details

Nearest MSA: Evansville
County: Vanderburgh
Tax ID/APN: 82-06-13-017-158.020-027 ; 82-06-13-017-158.004-027
Zoning: M-1
Total Number of Buildings: 3
Zoning Description: Light industrial district ; M-1

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,672 58,999 138,660
Median Age: 40.05 38.61 38.39
Households: 3,609 25,987 57,992
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