512 NE Main St - Distribution FOR SALE


$5,757,815 USD
515-221-6684
512 NE Main St, Grimes, IA for Sale
$5,757,815 USD
Distribution - FOR SALE
1/7
null | 8% Cap Rate


HIGHLIGHTS

  • 5 Years Remaining (60 Months)
  • Ideal Property For 1031 Exchange
  • NN Lease
  • 71,447 SF Distribution Facility
  • Landlord responsibilities limited to foundation, structure, and roof (all new roofs, main warehouse roof has a 20 year transferable warranty)
  • 6.6 Acres with opportunity to add 75,000 SF or larger building

OVERVIEW

Currently operating as an office and warehouse with high ceilings and wide entryways that facilitate seamless loading and unloading, making logistics a breeze. The property is conveniently located with easy access to HWY 141 and is just west of Grimes Plex, a new 50-acre turf multi-sport complex. The current tenant Crunchyroll, LLC, a division of Sony Group, has a lease through 2030.

FOR SALE DETAILS

PRICE

$5,757,815 USD

PRICE/SF

$81 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Distribution

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

3

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

6.61

LAND SF

287,932

ZONING

M3

APN/PARCEL ID

311-00305510000

ASK ABOUT THIS PROPERTY

515-221-6684

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515-221-6684

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