Double-Digit Cap Rate Investment

Land Description

Double Digit Cap Rate Industrial - $90,000 Noi

Investment Highlights:

Strong In-Place Cashflow: 100% leased to Green Bay Packaging Inc. through Feb 2023.

In-Place NOI of $90,000: Single tenant building offers stable monthly income.

Docks and Drive-In Doors: Building is in excellent condition with 7 drive-in doors and 3 loading docks.

Strategic Location: Conveniently located within close proximity to Cleveland and Toledo markets.

Offering Details:

RI Marketplace is pleased to present the 100% Leased Industrial Investment(the "Property") located at 2650 W. Hayes Ave, Fremont, OH 43420. The Property is a 31,440 SF distribution facility that is occupied by Green Bay Packaging Inc. with over $90,000 NOI generated annually. As a result of effective property maintenance from current ownership, the property is being offered in excellent condition with 7 drive-in doors and 3 loading docks. The property benefits from its immediate location on the Interstate with ±19,360 vehicles per day. In addition the Property is strategically located within close proximity to major metropolitan markets of Cleveland and Toledo.

Fremont is home to one of the world's largest food processing plant that is operated by the international brand, Heinz. The city is considered an industrial hub with a variety of manufacturers including the Chirsty Company, Clauss Cutlery Company, Quikut, B.A.P. Manufacturing, the Ginsu Cutlery Line, Herbrand Tools, and Michigan Sugar Company. The economy of Fremont employs 7.1k people. The largest industries in Fremont are Manufacturing (2,462 people), Health Care & Social Assistance (1,055 people), and Retail Trade (721 people), and the highest paying industries are Utilities ($55,179), Transportation & Warehousing, & Utilities ($50,625), and Transportation & Warehousing ($50,313). Median household income in Fremont is $35,535. In 2018, the place with the highest Median Household Income in Fremont was Census Tract 9614 with a value of $47,157, followed by Census Tract 9617 and Census Tract 9618, with respective values of $41,571 and $40,396.

Auctioneer:

Thomas Seaman

Keller Williams Greater Cleveland

License: Broker :