Opportunity Zone with Cash Flow

Industrial for Sale
Catylist Listing ID: 30452877
Property Subtypes: Flex Space, Manufacturing, Light Industrial, Net Leased, Warehouse/Distribution
Building Size (RSF): 144,673 SF
Gross Building Area: See Agent
Gross Land Area: 18.55 Acres
Sale Price: $8,000,000
Unit Price: $55.30 PSF
Docks/Doors: 8 Docks
Drive In Bays: 2 Bays
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/12/2020

Overview / Comments

Opportunity Zone with cash flow!!! A national tenant that has occupied building since 2001, 3 years left on the lease. Property is designated as high-density residential in Lynchburg's Comprehensive Plan, up to 30 units per acre. Adjacent to local community college, Liberty University and the major retail strip in Lynchburg. Excess land lends itself to an opportunity fund development site (phase1).

Trading at a 6.5% cap rate

Additional Details

Nearest MSA: Lynchburg
County: Lynchburg City
Taxing Authority: Lynchbrug
Tax ID/APN: 25703009
Property Located Between: Community College and Liberty University
Highway Access: near 29 South
Airports: Lynchburg Airport
Site Description: Parcel #25703009
Area Description: college town
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1974
Year Renovated: 2017
Parking Type: Surface
Sprinklers: Wet
Heat Type: Electricity, Natural Gas
Heat Source: Ceiling Units, Heat Pump
Air Conditioning: Engineered System
Internet Access: Cable
Zoning Description: I-2/ High-Density Residential
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 25703009

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,580 43,584 86,983
Median Age: 23.89 32.95 35.36
Households: 1,129 15,968 33,274

Contact

Photograph of Listing Agent

John O'CONNELL

O'Connell Realty and Investments LLC
CVCMLS Member
Photograph of Listing Agent

Grant Bates

Colliers International Virginia, LLC
CVCMLS Member
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