Industrial Investment - Sale Leaseback | 174 Cash St
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Industrial Investment - Sale Leaseback 174 Cash St
34,421 SF Industrial Building South Portland, ME 04106 $4,600,000 ($134/SF) 7.10% Cap Rate
Investment Highlights
- Fully Leased Asset: Sea Bags, LLC will be entering into a long-term, NNN lease with new ownership. Suggested lease rate of $9.50/SF.
- Functional Building Features: While currently 100% leased to a single tenant, the building was previously operated as a multi-tenanted building and l
- Strong Market Fundamentals: The industrial sector in Greater Portland has seen a tightening in vacancy rates over the last 5 years. Vacancy rates are
- Prime Location: Located in a sought-after industrial park in South Portland, with easy access to both I-295 and I-95.
- Long-Term Stability: Ten-year lease term to commence immediately upon the sale of the asset.
Executive Summary
The Boulos Company is pleased to present this 100% single-tenant occupied manufacturing facility in South Portland, Maine. The property is currently owner-occupied by Sea Bags, LLC, a recognizable brand producing bags and accessories from recycled sail cloth with over 50 retail locations nationwide. Sea Bags will be entering into a ten-year lease upon the sale of this asset, securing investors a net-leased industrial asset at an attractive yield.
Property Facts
| Price | $4,600,000 | Lot Size | 2.07 AC |
| Price Per SF | $134 | Rentable Building Area | 34,421 SF |
| Sale Type | Investment NNN | No. Stories | 1 |
| Cap Rate | 7.10% | Year Built | 1944 |
| Sale Conditions | Sale Leaseback | Tenancy | Single |
| Property Type | Industrial | Clear Ceiling Height | 15 FT 1 IN |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 10 |
| Building Class | B |
| Price | $4,600,000 |
| Price Per SF | $134 |
| Sale Type | Investment NNN |
| Cap Rate | 7.10% |
| Sale Conditions | Sale Leaseback |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 2.07 AC |
| Rentable Building Area | 34,421 SF |
| No. Stories | 1 |
| Year Built | 1944 |
| Tenancy | Single |
| Clear Ceiling Height | 15 FT 1 IN |
| No. Drive In / Grade-Level Doors | 10 |
Utilities
- Lighting - Fluorescent
- Gas - Natural
- Water
- Sewer
- Heating - Gas
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Sea Bags, LLC
- -
- -
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Sea Bags, LLC | - | - | - | - |
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PROPERTY TAXES
| Parcel Number | SPOR-000040-000000-000080 | Improvements Assessment | $1,330,600 |
| Land Assessment | $327,200 | Total Assessment | $1,657,800 |
PROPERTY TAXES
Parcel Number
SPOR-000040-000000-000080
Land Assessment
$327,200
Improvements Assessment
$1,330,600
Total Assessment
$1,657,800
zoning
| Zoning Code | INR (Non-Residential Industrial) |
| INR (Non-Residential Industrial) |
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Jonathan Rizzo -
Tony McDonald -
The Boulos Company
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Industrial Investment - Sale Leaseback | 174 Cash St
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