1380 Township Road 743 - Warehouse FOR SALE


Ashland, OH 44805
$4,222,000 USD
216-381-8200
1380 Township Road 743, Ashland, OH for Sale
$4,222,000 USD
Warehouse - FOR SALE
1/4
null | 8.78% Cap Rate

1380 Township Road 743
Ashland, OH 44805


HIGHLIGHTS

  • NNN Lease - Tenant 100% Responsible for Building and Improvements
  • Strong Tenant - Corporate Lease with Additional Personal Guaranty
  • Mission Critical Facility - Design, Fabrication, and Warehouse Under One Roof
  • Tenant Longevity - Conery Manufacturing has Operated in this Facility Since 1979
  • Regional Location - Located Next to I-71, Half-way Between Cleveland and Columbus
  • Recently-Extended Lease - Tenant Recently Extended for 5 Years

OVERVIEW

For sale to qualified investors is the 100% fee-simple interest in the Conery Manufacturing, Inc. and Septic Products, Inc. facility located in Ashland, Ohio. Conery Manufacturing leases both buildings on the site on an absolute triple-net basis with no landlord obligations. The leases are corporately signed by Conery Manufacturing, Inc., with an additional personal guaranty by the founder of the company. Conery Manufacturing Inc. is a company engaging in the manufacture of float switches with a 43-year tenure at the site. Septic Products, Inc., a sister company related to Conery Manufacturing, is an original equipment manufacturer of high-water alarms, float switches, and electrical control panels. The passive nature of this lease combined with the strong guarantors make this an ideal 1031 replacement property or acquisition for an investor desiring a passive real estate investment. The site features three design and manufacturing facilities with recent renovations, including a new 7,200 SF building with concrete pavement and loading dock access. Additionally, the property is strategically located next to Interstate 71 for convenient shipping and receiving. Notable manufacturers and retail tenants in the area include Ball Bounce and Sport, Inc., Fresenius Kidney Care, Snyder’s Lance, Barbasol, McGraw Hill, Bookmasters, Conery Manufacturing, McDonald’s, Chase Bank, Rite Aid, Burger King, Taco Bell, Wendy’s, PNC Bank, Walmart, Home Depot, Ashland University, and many others.

FOR SALE DETAILS

PRICE

$4,222,000 USD

PRICE/SF

$210 USD /SF

CAP RATE

8.78%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Conery Manufacturing

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2002

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

27

LAND DETAILS

LAND ACRES

1.07

LAND SF

46,827

ZONING

-

APN/PARCEL ID

I25-015-0-0008-06,I25-015-0-0008-08

ASK ABOUT THIS PROPERTY

Kyle HartungGoodman Real Estate Services GroupMore Info
216-381-8200

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Kyle HartungGoodman Real Estate Services GroupMore Info
216-381-8200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.