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Listing IDDESU2030004
Sold For$4,800,000
SqFt 68,000
Acres 4.850
StatusCLOSED
CountySussex
Year Built1980
Property TypeCommercial Sale
Property Sub TypeIndustrial
+/- 68,000 SF industrial manufacturing sale / partial leaseback opportunity - located in the heart of Milford in Kent County, the First State Manufacturing facility is available as an industrial investment opportunity. This sale offering includes a leaseback from First State Manufacturing of +/- 34,000 SF on a triple net basis. The lease term shall be an 8 year term with base rent of $6.50 PSF increasing 3% annually. A slightly below market rent allows a buyer to realize additional income/upside in the event tenant were to leave at the end of their 8 year term. The remaining 34,000 SF will be delivered vacant and consists of office/production space and fully conditioned warehouse. Ideal opportunity for a user seeking space and additional income OR for a pure investment and the opportunity to achieve long term stable cashflow. The 68,000 SF building is comprised of Class A office space and fully conditioned warehouse space. Conveniently located between Rt 113 and Rt 1, the wood/steel building has a poured concrete slab foundation and a flat rubber membrane roof. The building was completed renovated in 2011 and is fully sprinkled and has solar panels to increase efficiency. Drive in and dock high loading capabilities are both available. Based on the minimal inventory available, we expect to see strong demand for the vacant warehouse/manufacturing space.
Listing courtesy of SVN |Miller Commercial Real Estate 410-543-2440

© 2023 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Listing courtesy of SVN |Miller Commercial Real Estate. Data last updated on Thursday, February 2nd, 2023 07:45:58 PM.

Contact - Listing ID DESU2030004

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John Luca

88 Lantana Dr.
Hockessin, DE 19707
Phone: 3029996966
Phone Alt: 3027405872

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Contact Information

Photo of John Luca Team Real Estate
John Luca Team
Berkshire Hathaway HomeServices Fox & Roach Realtors
88 Lantana Dr.
Hockessin DE 19707
Direct: 302-999-6966
Broker: 302-999-9999
Fax: Cell: 302-740-5872
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