412 Railroad Ave - Industrial FOR SALE


Federalsburg, MD 21632
$4,250,000 USD
302-360-0300
412 Railroad Ave, Federalsburg, MD for Sale
$4,250,000 USD
Industrial - FOR SALE
1/4
null | 7.52% Cap Rate

412 Railroad Ave
Federalsburg, MD 21632


OVERVIEW

Very clean well--maintained Industrial Property. Excellent for a 1031 exchange. 100,336 sq. ft. complex on 7.93 acres (Parcel 595 Tracts 1 and 2. Not included in the initial offer is Tract 3, 4.66 ac. undeveloped lot, could be available). There are multiple buildings on the site, the earliest of which was constructed in 1956 as a poultry processing plant with additions built in 1988, 1994, 2001, 2002, and 2008. The construction is concrete block and steel framing with some timber framing; recent additions are pre-engineered steel buildings. The older buildings received standing seam metal roofs in 2020. Buildings are heated and ventilated with some areas air-conditioned and cold warehouse areas are equipped with refrigeration equipment. Heavy, up-to-date electrical services throughout. All other systems Ceiling heights vary from 9 to 35 feet.The primary tenant M&M Refrigeration, LLC, a wholly owned subsidiary of Johnson Controls International, designs,manufactures, and installs custom industrial refrigeration equipment worldwide. There is a small portion (refrigerated dock space) leased by Jack and Jill, an ice cream distributor. The M&M JCI lease runs through 2033 and has two five-year options. It is a triple net lease with an annual rent adjustment of the CPI or 2% whichever is higher. The current annual rent is $298,120.08 Jack and Jill has been leasing its space for almost 40 years, currently month-to-month, but a signed lease could be acquired. Jack and Jill's current annual rent is $21,600.00. To summarize, the property generates $319,720.08 triple net. The property is offered for sale at $4,250,000, which yields a cap rate of 7.52%. Tract 3, 4.66 acres of undeveloped industrial land is not included in the offering and this time, but could be available. Upon receipt of a verified signed NDA, the following items will be made available: Alta survey showing all boundaries, improvements, easements, encroachments; Lease and amendment with lease exhibit; Maryland Dept. of the Environment letter of no findings; Phase 1 environmental study; and Phase 2 environmental study. Please feel free to call me 302-841-9320 with any questions and to arrange a site visit if you like.

FOR SALE DETAILS

PRICE

$4,250,000 USD

PRICE/SF

$57 USD /SF

CAP RATE

7.52%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Johnson Controls International Mfg. Facility

PROPERTY TYPE

Industrial

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

UTILITIES

Lighting, Gas, Water, Sewer, Heating

CLEAR CEILING HT

32 Ft

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

7.93

LAND SF

345,431

ZONING

ID1

APN/PARCEL ID

05-026903

ASK ABOUT THIS PROPERTY

Robert WheatleyKeller WilliamsMore Info
302-360-0300

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Robert WheatleyKeller WilliamsMore Info
302-360-0300

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