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- LoopNet Team
506 S Oakland Ave
Nappanee, IN 46550
Industrial Property For Sale
INVESTMENT HIGHLIGHTS
- 15-year absolute NNN lease terms being offered at a lower market rate with 2% increases - no landlord responsibility for operating or capital expenses
- Well maintained facility with no deferred maintenance
- Good power for manufacturing operations
- Stable and growing tenant established in 2009 with over $20 million in sales
- Availability of docks and drive-in door provides some flexibility for future users if ever needed
- The tenant has the capacity to grow in the building and room to expand if needed
PROPERTY FACTS
| Property Type | Industrial | No. Stories | 1 |
| Building Class | C | Year Built | 1977 |
| Lot Size | 7.83 AC | No. Dock-High Doors/Loading | 4 |
| Rentable Building Area | 108,675 SF | No. Drive In / Grade-Level Doors | 3 |
| Property Type | Industrial |
| Building Class | C |
| Lot Size | 7.83 AC |
| Rentable Building Area | 108,675 SF |
| No. Stories | 1 |
| Year Built | 1977 |
| No. Dock-High Doors/Loading | 4 |
| No. Drive In / Grade-Level Doors | 3 |
ABOUT 506 S OAKLAND AVE , NAPPANEE, IN 46550
Bradley Company is pleased to present the sale-leaseback investment offering of a 108,575 SF industrial building to be leased to CHaSE Manufacturing, a leading design, and manufacturing firm of custom wood products for the RV, manufactured housing and multi-family industries. The proposed lease will include absolute NNN rent for a 15-year period with 2% annual increases and two 5-year renewal options. The building is located in Nappanee, Indiana (Elkhart MSA) in a prime industrial park area for Elkhart County. Elkhart County is home to the RV and manufacturing industries and a leading industrial market in Indiana and the Midwest. The building is very well maintained with the tenant being responsible for all capital replacement, maintenance, and operating expenses. The tenant will be investing the sale-leaseback proceeds into equipment to support the growth of its business, while also consolidating one of its other locations into this facility. These factors help ensure the tenant will remain in the properties for an extended period of time beyond the proposed lease term.
PROPERTY TAXES
| Parcel Number | 20-14-31-476-009.000-029 | Improvements Assessment | $2,113,300 |
| Land Assessment | $234,500 | Total Assessment | $2,347,800 |
PROPERTY TAXES
ZONING
| Zoning Code | LI |
| LI |
