Rare fully occupied investment opportunity offering approximately 7% cap rate currently with upside as high as 9% within four years due to escalations and lease renewals. High-quality roster of tenants who plan to stay long-term. Flexible zoning allows outside storage and property sits on 12.2 total acres with approximately 4 acres of unutilized excess land for future development potential to add additional units or for outside storage usage. Extensively upgraded building with new LED lighting, new exterior and interior metal cladding, new electrical wiring, and other work too extensive to list - $2.2 million spent on upgrades over last 8 years. Great building specs with 20 ft clear height in 80% of the building and 16 ft clear height in 20% of the building, and abundant dock-level and drive-in shipping doors. (id:31684)

Listing courtesy of: JOE ROSATI of LENNARD COMMERCIAL REALTY

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