Austin Distribution

Industrial for Sale
Catylist Listing ID: 30682064
Property Subtypes: Manufacturing, Light Industrial, Warehouse/Distribution
Building Size (RSF): 270,000 SF
Gross Land Area: 10.89 Acres
Sale Price: $5,250,000
Unit Price: $19.44 PSF
Docks/Doors: 19 Docks, 19 Doors
Office SF: 5,000 SF
Drive In Bays: 1 Bay
Property Use Type: Investment, Vacant/Owner-User
Building Name: Austin Distribution
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/26/2021

Overview / Comments

This building was formerly known as the American Can Building.The building has been occupied for the last 10 years by a large food canning company and is USDA approved. They occupied approximately 236,000 square feet until June 30, 2019. There is an additional 24,000 square feet that is presently leased to Tri-Hawk Automotive and they have been there for two years. They are on a one year lease and started with 5 renewals they have 3 left. The building is in good condition and has been maintained. The entire electrical for the building was updated by Duke in 2017. There are 19 docks and 1 grade level door. The building has approximately 77,000 square feet with 30' ceilings and the remainder is 17' ceilings with the exception of the 24,000 square feet that Tri-Hawk occupies. It has 13' ceilings. The entire building fronts US. 31 and is less than 5 minutes from I-65 exit 34 and exit 36. Excellent location with great logistics to Louisville, Indianapolis, St. Louis, and Cincinnati. This space could be divided into a 61,000 square foot space or a 77,000 square foot high bay area or 175,000 square feet up to a total of 236,000 square feet.
Update: The high bay area consisting of 77,000 square feet has been leased to Morgan foods until 12/31/2021

This leaves 159,000 square feet left available for lease.​

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $34,480 (Annual)
Potential Rental Income $675,000 (Annual)
Gross Operating Income $235,000 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Tri-Hawk Automotive
Industry Type Manufacturing
Is Renting? Yes
SF of Space Occupied 24,000 SF
Current Rent $60,000 PSF (Annual)
Lease Expiration 12/0022
Tenant Business Name Morgan Foods
Industry Type Manufacturing
Is Renting? Yes
SF of Space Occupied 77,000 SF
Current Rent $192,500 PSF (Annual)
Lease Expiration 12/0021

Additional Details

Nearest MSA: Scottsburg
County: Scott
Taxing Authority: Scott County
Tax ID/APN: 72-03-36-200-013.000-002
Zoning: INDUSTRIAL
Property Located Between: US 31 & I-65 Exits 34 & 36
Highway Access: Frontage on US 31 and located between Exit 34 and Exit 36 on I-65
Airports: Louisville
Site Description: This building was formerly known as the American Can Building.The building has been occupied for the last 10 years by a large food canning company and is USDA approved. They occupied approximately 236,000 square feet until June 30, 2019. There is an additional 24,000 square feet that is presently leased to Tri-Hawk Automotive and they have been there for two years. They are on a one year lease and started with 5 renewals they have 3 left. The building is in good condition and has been maintained. The entire electrical for the building was updated by Duke in 2017. There are 19 docks and 1 grade level door. The building has approximately 77,000 square feet with 30' ceilings and the remainder is 17' ceilings with the exception of the 24,000 square feet that Tri-Hawk occupies. It has 13' ceilings. The entire building fronts US. 31 and is less than 5 minutes from I-65 exit 34 and exit 36. Excellent location with great logistics to Louisville, Indianapolis, St. Louis, and Cincinnati. This space could be divided into a 61,000 square foot space or a 77,000 square foot high bay area or 175,000 square feet up to a total of 236,000 square feet.
Area Description: The entire building fronts US. 31 and is less than 5 minutes from I-65 exit 34 and exit 36. Excellent location with great logistics to Louisville, Indianapolis, St. Louis, and Cincinnati.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Roof Type: Flat
Construction/Siding: Block, Metal Siding
Parking Type: Surface
Sprinklers: Wet, Dry
Amps: 800
Volts: 480
X-Phase: 3
Heat Type: Natural Gas
Heat Source: Other
Zoning Description: Industrial
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress
Land Ownership: owned

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,992 8,074 17,935
Median Age: 37.31 38.75 38.86
Households: 1,568 3,168 7,061

Contact

© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Indiana Commercial Board of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.