Leased Investment for Sale on 2 Acres

Industrial for Sale
Catylist Listing ID: 30210460
Property Subtypes: Manufacturing, Light Industrial, Warehouse/Distribution
Building Size (RSF): 1,800 SF
Gross Building Area: See Agent
Gross Land Area: 2.08 Acres
Sale Price: $1,400,000
Unit Price: $777.78 PSF
Ceiling: 12 ft. Clear
Docks/Doors: 1 Door
Property Use Type: Investment
Building Name: Cannabis project
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Last Updated: 4/23/2018

Overview / Comments

Leased investment property in the heart of the Desert Hot
Springs Cannabis area. The tenant has an approved CUP for development of a
60,000 sq ft. facility on the 2+ acres of land. The current lease is an initial term
of 5 years with 3-five year extensions. It is a seasoned lease and has been in
place for 2 years. Tenant is now ready to start construction on his project. The
net income is $73,080 currently with 3% annual increases. Over 2 Acre Fenced property with 1800 sq. ft. Metal building currently. Approx. 2.08 acres fenced property with 1,800 sq. ft. metal building and 2,400 sq. ft. leased building.

Attachments & Media

Additional Details

Nearest MSA: Riverside-San Bernardino-Ontario
County: Riverside
Tax ID/APN: 663280001
Zoning: IL
Highway Access: 10 Freeway
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1988
Parking Type: Surface
Total Parking Spaces: 10

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,436 36,615 43,564
Median Age: 31.64 33.81 33.98
Households: 2,017 12,376 14,789

Contact

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