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415-417 W 3rd St
60,000 SF Industrial Building Williamsport, PA 17701 $4,200,000 ($70/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Zero Landlord responsibility with absolute NNN Leases.
- 7.4% YoY Market Rent Increases, Cumulative 25.5% Increases In the Past 3 Years.
- Located within close proximity to major industrial cities such as Wilkes-Barre, Harrisburg, and Philadelphia, PA.
- Brand New 10 Year Lease; 3% Annual Increases; Three (3) Five (5) Year Options.
- Proximity to I-180 - Highly Accessible.
EXECUTIVE SUMMARY
The subject property is the corporate headquarters of Supply Source Inc., the largest contract office furniture supplier to the Commonwealth of Pennsylvania, and rapidly expanding. Supply Source has shown their commitment to the site by recently signing a new 10 year lease including 3% annual increases and three (3) five (5) year options to extend, as well as, through a number of large improvements, including an 8,000 SF premium office buildout. With a recently extended absolute NNN lease and options, this single tenant offering provides investors with predictable cash flow and ease of ownership.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $4,200,000 | Lot Size | 0.91 AC |
| Price Per SF | $70 | Rentable Building Area | 60,000 SF |
| Sale Type | Investment NNN | No. Stories | 3 |
| Cap Rate | 8% | Year Built | 1968 |
| Sale Condition | Sale Leaseback | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 0.23/1,000 SF |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 2 |
| Building Class | C |
| Price | $4,200,000 |
| Price Per SF | $70 |
| Sale Type | Investment NNN |
| Cap Rate | 8% |
| Sale Condition | Sale Leaseback |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.91 AC |
| Rentable Building Area | 60,000 SF |
| No. Stories | 3 |
| Year Built | 1968 |
| Tenancy | Single |
| Parking Ratio | 0.23/1,000 SF |
| No. Dock-High Doors/Loading | 2 |
AMENITIES
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Wholesaler
- 60,000 SF
- $5.33
- Triple Net
- -
Since its founding in 1984 by the current President & CEO, Ray Thompson, SupplySource has embraced the adage "the only constant is change" and has continuously adapted to benefit its customers. SupplySource is a Certified Small Diverse Business (SDB) and a Certified Minority-Owned Business (MBE). The team, consisting of over 40 professionals, is dedicated to the company's mission and upholds its core values. The company specializes in the construction and installation of office furniture products and related equipment, including cubicle walls and meeting space furnishings. Additionally, SupplySource offers warehousing, remanufacturing, and resale of used furniture and equipment, along with delivery and installation services. Headquartered in Williamsport, SupplySource operates several locations throughout Pennsylvania.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Wholesaler | 60,000 SF | $5.33 | Triple Net | - |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,407,720 | |
| Land Assessment | $314,230 | Total Assessment | $1,721,950 |
PROPERTY TAXES
ZONING
| Zoning Code | INDR |
| INDR |
CONTACTS
-
Craig Dunkle -
Mher Vartanian -
Nick DiPrimio -
Scope Commercial Real Estate Services, LLC
Presented by
415-417 W 3rd St
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