8000 Sq Ft Industrial Building with Rail Spur

  SOLD October 2008 for $349,000

718 Farmers Market Road, Fort Pierce, Florida 34982


Building Size8,000 Square Feet
Land Size0.92 Acres
ZoningLight Industrial
Electric3 Phase
Year Built1950
ConstructionConcrete and block
RoofMetal
SewerSeptic
Parking16 Places
WaterWell
New Roof2 Fenced Yards
5 Electric MetersRail Siding
Value AddedGreat Location

8,000 sq ft Industrial Building on .92 +/- acres. 8 dock height bays. Showroom. 3 phase electric. Rail Road siding. 5 Electric meters for division into multi-tenant building. Built to support a 4,000 sq ft loft in addition to the first floor. 2 Fully fenced yards. Good road access. If rented at $4 per square foot with 1/4 down on a 5.2% 20 year mortgage the return will be 18.08% IRR  at $449,000. ($359,000 acqusation and $100,000 renovation to multi tenant) Market rent for this type of property is normaly $7 sq. ft. Reduced to $359,000

Straight line cap 7.13% for cash sale and renovation and 27% cash on cash cap rate.


The information contained herein is from sources deemed reliable, but is subject to errors, omissions, and withdrawal without notice.


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