3400 Claremont Ave. For Sale

Industrial for Sale
Catylist Listing ID: 30762815
Property Subtypes: Free-Standing, Industrial-Business Park, Manufacturing, Light Industrial, Warehouse/Distribution
Building Size (RSF): 6,500 SF
Gross Land Area: 0.65 Acres
Sale Price: $744,000
Unit Price: $114.46 PSF
Ceiling: 22 ft.
Docks/Doors: 1 Dock, 1 Door
Office SF: 1,000 SF
Drive In Bays: 1 Bay
Property Use Type: Net Leased Investment (NNN), Investment, Business
Usable Size (USF): 6,500 SF
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Last Updated: 5/15/2023

Overview / Comments

Located on the West side of Evansville near Mead Johnson, Berry Plastics and within 20 minutes to SABIC, Bristol Myers, AstraZeneca & B&W.

September 2021 Renovations:
NEW HVAC system to supply all office, conference and breakroom areas.
NEW Sherwin-Williams carpeting throughout offices.
NEW Sherwin-Williams paint on walls throughout offices and H/C restrooms.
NEW Sherwin-Williams paint on doors and trim throughout offices & restrooms.
NEW Conference room added, with other modifications to floor plan.


Current Tenants

Tenant Business Name MasTec, Inc.
Website URL https://www.mastec.com/
Industry Type Utilities
Is Renting? Yes
Employees Total 22,000
Year Founded 1929
SF of Space Occupied 6,500 SF
Current Rent $8 PSF (Annual)
Lease Expiration 10/2026
Escalations Every 5 Years
Options (1) 5 Year option with a 5% increase
Tenant Notes Publicly Traded Co. *MasTec, Inc. is a leading national infrastructure construction company operating mainly throughout the United States across a range of industries. The Company’s activities include the building, installation, maintenance and upgrade of energy, communication and utility infrastructure, including but not limited to: electrical utility transmission and distribution, wind farms, solar farms, other renewable energy, natural gas and petroleum pipeline infrastructure, wireless, wireline, satellite communication, industrial infrastructure and water and sewer systems. MasTec’s customers are in the following industries: utilities (including wind farms, solar farms and other renewable energy, natural gas gathering systems and pipeline infrastructure), communications (including wired and wireless telephony and satellite television) and government (including water, sewer and other utility and communications work on military bases).

Additional Details

Nearest MSA: Evansville
County: Vanderburgh
Taxing Authority: Vanderburgh County
Tax ID/APN: 82-05-26-018-207.012-025
Property Located Between: South Barker and South Tekoppel
Highway Access: Ray Becker Parkway to HWY 62, which takes you to I-69 or HWY 41
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 2004
Year Renovated: 2021
Roof Type: Gable
Construction/Siding: Steel Frame
Parking Type: Surface
Column Spacing: Clear Span
Overhead Cranes: Undisclosed
Sprinklers: None
X-Phase: 3
Zoning Description: Manufacturing
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,462 36,948 96,602
Median Age: 33.27 37.53 36.98
Households: 4,194 16,268 38,889


Photograph of Listing Agent

Melannie Hutchinson

Melmar Realty, LLC ICREX Member
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