Financial Information

Current loan type:
N/A

Flexibility:
Willing to negotiate

Property is on a major I-575 exchange, and is ideally suited for future development. Parcel includes a 40,000 square foot building including 3500 square foot of office space on 7acres.

The current building on site would be well suited for rental as a manufacturing or distribution facility. The building has 16 dock loading facilities as well as conventional roll-up doors. Based upon a reasonable rental of $5-6 per foot (currently rents in the area are in the $5.50-6.00 range, without the benefit of the large lot), this would provide approximately $200-240K in annual income until developed.

PROPERTY COMPARABLES:

To find comparable sites one doesn’t have to look too far. A similar, but undeveloped, 4-acre parcel located across Airport Drive from this site is priced at $225K per acre. Similar parcels on Airport road, but across the freeway, and near the Airport (but farther from I-575) are priced at $250K per acre for raw land alone. Additionally, new shell construction in the Industrial Park is starting at $50/ft. When you factor in the value of the building already on site, the property’s value becomes apparent.

PRICE:

This parcel is available for sale now at much less than you could replace it for. The asking price of $2,400,000 reflects a per acre price of just $200K per acre, with only half the building’s replacement value. The bonus of already having the building on site will allow the investor to realize immediate monthly cash flow while determining future development plans.

FUTURE DEVELOPMENT POTENTIAL:

One only has to look at the phenomenal development at Riverstone (the next exit) to see the potential for this site. Outparcels and retail/commercial sites are going for up to $400K for road frontage outparcels (1/4 acre), with almost complete build-out already completed. As Riverstone is finally built out, the wave of development will move on to the next exit (Airport Drive).

Contact me for a detailed information package.