Industrial Warehouse Space

Industrial for Sale
Catylist Listing ID: 30385482
Property Subtypes: Industrial-Business Park, Light Industrial, Warehouse/Distribution, Other
Building Size (RSF): 41,489 SF
Gross Building Area: See Agent
Sale Price: $3,400,000
Unit Price: $81.95 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Undisclosed, Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/14/2019

Overview / Comments

Southeast Commercial is pleased to present a Single Tenant Net Lease Industrial Investment aggressively priced at a 10% cap rate with 8 years remaining on the primary term. Property is situated in Gulfport's Industrial Park on Seaway Road just west of Hwy 605. Tenant, Gulf Coast Laundry, operates a large commercial laundry business which services many of the casinos, hotels, and restaurants in the Gulf South Region. The building was constructed by the current owner in 1997 for the specific use as a commercial laundry facility, with an addition added in 2015. The previous operator sold the business to the current tenant, CCSL Biloxi, LLC, dba Gulf Coast Laundry, in 2015, and a new 10-year NNN lease was signed by tenant in 2016. Tenant is very stable with strong business ties in the region.

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Additional Details

Nearest MSA: Gulfport-Biloxi-Pascagoula
County: Harrison
Tax ID/APN: 0909H-01-003.004
Number of Stories: 2
Property Condition: Good
Year Built: 1998
Year Renovated: 2005
Zoning Description: I-2
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,274 35,038 89,951
Median Age: 36.98 35.5 36.2
Households: 1,237 13,811 35,417
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