2008 Cypress St - Warehouse FOR SALE


Paris, KY 40361
$6,950,000 USD
859-433-8911
2008 Cypress St, Paris, KY for Sale
$6,950,000 USD
Warehouse - FOR SALE
1/16
null | Request Cap Rate

2008 Cypress St
Paris, KY 40361


HIGHLIGHTS

  • 291,695 SF Single Tenant Industrial Investment Opportunity
  • Low basis at 23.83/sf
  • Below Market Rents
  • Historical Occupancy dating back to 2007
  • Recent Consolidation from California operations
  • Expressed interest to take more space in the facility

OVERVIEW

SVN Stone Commercial Real Estate is pleased to bring to market this single-tenant industrial investment opportunity in the Lexington, KY MSA. 2008 Cypress Street is a 291,695 SF facility situated on approximately 21.31 acres in the Lexington, KY submarket of Paris, KY. This heavy manufacturing facility was originally constructed in 1966 and most recently renovated in 2024. The property has been occupied by Western Pacific Storage Solutions (WPSS) since 2007. WPSS specializes in manufacturing industrial racking solutions and other related products that help companies worldwide streamline operations and achieve cost savings. Over the past year, WPSS consolidated all its manufacturing operations at this location, making it a mission-critical facility. As a further commitment to this space, WPSS executed a 10-year modified net lease agreement that incorporates an expansion within the facility. WPSS now occupies 275,165 SF of the building and 17.82 acres of the parcel, with plans to expand further in the future. The initial lease term began on August 1, 2022, and extends through July 31, 2032. The property includes approximately 7% office space, with the remaining 93% dedicated to manufacturing and warehouse operations. The manufacturing portion of the facility is equipped with key features essential to WPSS’s operations, including 3High-efficiency lighting, Wet sprinkler system, Reinforced concrete slab, Seven dock-height doors, One drive-in door, Heavy power capabilities, Clear heights ranging from 14’ to 20’ Located in the heart of Paris, KY, this property offers convenient access to major highways and transportation routes. Its proximity to local amenities, including restaurants, shopping centers, and hotels, makes it an attractive location for employees and staff. For further financial or lease information, or to schedule a tour of the facility, please contact: John Bunch, SIOR at john.bunch@svn.com // 859.433.8911.

FOR SALE DETAILS

PRICE

$6,950,000 USD

PRICE/SF

$24 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

UTILITIES

Lighting, Gas, Water, Sewer, Heating

CLEAR CEILING HT

20 Ft

DOCKS

7

DRIVE INS

1

PARKING SPACES

300

LAND DETAILS

LAND ACRES

20.56

LAND SF

895,594

ZONING

I-2

APN/PARCEL ID

026-00-00-041.00

ASK ABOUT THIS PROPERTY

John BunchSVN | Stone Commercial Real EstateMore Info
859-433-8911

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John BunchSVN | Stone Commercial Real EstateMore Info
859-433-8911

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