"Exciting Investment Property! Cap Rate 7.6 and room to build!" Featuring 5.19 Acres and offering 2.54 acres Leased with approximately 21,590 sqft Industrial building being used for light industrial plus approximately 1930 sqft office building. Included is 2.65 acres undeveloped land ready to be built on. Zoned U-MU1,. The Rent brings in $15,544 a month NNN they pay 78% tax and all insurance for building and land with a 3% increase annually. The lease is in place until April 2029 with ability to extend. The owner has had a PRT meeting with the city and has been approved to have drainage run in the front ditch along Expressway and use the community pond, which gives the ability to develop the entire property without creating stormwater containment ponds. This was confirmed by IMEG but should always have verified. HMH Engineering excavated 4 test pits on the property undeveloped and went 10 feet deep in January of 2026. Upon excavation, what was found was crushed asphalt and concrete with native soils, a Phase I report was completed and available. *This property also has a Burlington Railroad spur on it and through it. The road running through it makes it perfect for building and accessibility to the vacant acres.
Listing Details
- UseBuildingLand
- Year Built1994
- Lot Size5.1900
- ZoningU-MU1 or Urban Mixed
- UseBuildingLand
- Year Built1994
- Lot Size5.1900
- ZoningU-MU1 or Urban Mixed
