Pending

248 Justin Drive

Cottonwood AZ, 86326

$3,381,958


$191.67 per sqft

Pending

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

September 3, 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

9/2/2024

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 3:18 AM UTC, 9/3/2024

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