Historical Industrial Sale Listing - FedEx Distribution Center

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FedEx Distribution Center

5313 Majestic Parkway, Bedford Heights, OH 44146

N/A

84,560 SF | Industrial

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Industrial Property - Off Market

Price:
N/A
Building Size:
84,560 SF
Property Type:
Industrial
Property Sub-type:
Distribution Warehouse
Property Use Type:
Investment
Commission Split:
1.25%
Cap Rate:
8.37%
Occupancy:
100%
Tenancy:
Single
Year Built:
1998
Lot Size:
9.88 AC
Listing ID
14156909
Last Updated
over 1 year ago

Utilities

Highlights

  • Fortune 500 Corporate Tenant on a 10 year NN lease.
  • 2 five year extensions with rent increases based on fair makret rents at time of renewal.
  • Future ability to expand on land.
  • Sandard and poor rating of BBB.
  • Close and easy access to I-77, I-71, I-271, and I-480 which is central to interstae commerce to the mid-atlantic states.
  • Ten miles from Cleveland, Ohio.

Description

The Bedford Heights FedEx Distirubtion Center is priced at $5,100,000. It is positioned within the market at a 8.37% cap rate with a 2.1% cash return and a total return of 9.7%. Financing for this property is $2,677,000 down and an assumable loan in the amount of $2,423,000, 6.88% fixed interest rate, and a 15 year amortization. The loan must be assumed and will be fully paid off Oct. 13, 2013.

Bedford Heights is located just outside of Cleveland, Ohio. It is centrally located next to an extensive interstate system including I-71, I-77, I-271, and I-480. These interstates service the mid-atlantic states and are essential to their thriving commerce. This Federal Express location has the ability to expand and handle the growing commerce for the mid-atlantic states.

Map of 5313 Majestic Parkway, Bedford Heights, OH 44146 (Cuyahoga County)

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Created 3/21/2005