Sold
Closed
248 Justin Drive
Cottonwood AZ, 86326
$2,000,000
$113.35 per sqft
Sold
Closed
17,645 sqft
Commercial
Built in 1999
6.5% CAP! Excellent investment opportunity! Just east of Cottonwood Airport in the Mingus Industrial Park this 17,645 sq ft industrial building is being offered for sale with a long-term Tenant in place. The building has three 12' tall X 10' wide overhead doors, one grade level dock, one dock high dock with a hydraulic lift system, CMU construction, 5445 sq ft of the building is cold storage, fully fire sprinklered, 18' of clear height, 3-phase power, a 40KW backup generator in case there is ever interruption in the electrical grid, almost the entire parcel is paved other than a retention pond out front, 4 evaporative coolers, and 4 HVAC Units. The building is Leased by Wild Tonic(r) an iconic beverage company known for its premium Sparkling Jun and Hard Jun varietals. With over 20 different products and recognition from Forbes, Food Network, POPSUGAR, USA TODAY 10 bests, and many others, this is an opportunity you won't want to miss. Wild Tonic(r) products are proudly displayed on the shelves of many grocers including Sprouts, Natural Grocers, and AJS Fine Foods. The Tenant is in the first year of its current five-year lease term. With three more five-year options to go. The Lease agreement is a solid NNN Lease with annual escalators each calendar year. With an NOI of $219,827.28 during the first year of acquiring the asset this is a solid 6.5% CAP RATE. It's hard to find a better property to satisfy your 1031 Exchange. If you're looking for your first income property or if you have a large portfolio and are looking for more mailbox money this, is it.
536351
MLSⓇ ID
June 9, 2024
Listed
November 22, 2024
Updated
Map
248 Justin Drive
Cottonwood AZ, 86326
Interior Features
Floor Description
Concrete
Fireplace
No
Cooling
Yes
Cooling Description
Evaporative Cooling, Central Air
Heating
Yes
Heating Description
Electric, See Remarks
Exterior/Building Features
Lot Size
0.74 Acres
Exterior Features
Fenced Backyard
Other Property Details
Area Name
10 - Cottonwood
Taxes
$7,766
Tax Frequency
Annually
Garage
No
Parking
10 - 19 Cars
View
No
County
Yavapai
Pool
No
Zoning
I-2
Listing History
Date | Event | Price |
---|---|---|
9/12/2024 | Sold | $2,000,000 |
9/2/2024 | Pending | — |
Courtesy of Prescott Commercial Real Estate, Matt Fish
Listing Contact:
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Nathanael Russell shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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Data last updated 3:10 PM UTC, 11/22/2024