Double Digit Cap Rate Industrial - $80,000 Noi
100% Leased to International Tenant: Polynt Group has 18 locations in North America and a presence on four continents. Polynt Lease includes rent escalations (see data vault for lease).
In-Place NOI of $80,000: Single tenant building offers stable monthly income.
Value-Add Opportunity: The offering includes a garage on site, currently leased generating additional income.
Strategic Location: Located just off Us-20 and Us-250.
RI Marketplace is pleased to present the 100% Leased Industrial Investment (the "Property") located at 42 Town Line Road 151, Norwalk, OH 44857. The Property is a 36,800 SF distribution facility that is occupied by Polynt Group on a triple net lease with no landlord responsibilities. The asset is generating approximately $80,000 NOI annually. Polynt Group's lease includes a 25% rent escalation in 2022 and a renewal option with a 20% rate increase offering ownership the opportunity to increase cash flow. In addition, the offering consists of an on-site garage that is currently leased to provide additional income for investors. The Property is conveniently located within close proximity to US Highway 20, US Highway 250, Cleveland Hopkins International Airport, and Central Soya Company Incorporation.
The economy of Norwalk employs 7.88K people. The largest industries in Norwalk are Manufacturing (1,647 people), Health Care & Social Assistance (1,241 people), and Retail Trade (909 people), and the highest paying industries are Transportation & Warehousing ($43,929), Transportation & Warehousing, & Utilities ($43,839), and Information ($43,125). Median household income in Norwalk is $45,565. In 2018, the place with the highest Median Household Income in Norwalk was Census Tract 9154 with a value of $58,429, followed by Census Tract 9165 and Census Tract 9155, with respective values of $57,380 and $55,464.
Keller Williams Greater Cleveland
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