Description
This is a fully leased Industrial Outdoor Storage (IOS) parcel, leased to a tow operator. The 5 year NNN lease states that tenant pays property taxes. Landlord pays liability insurance ($675/yr). The 5-year NNN lease started April 2024 and has a Renewal option at landlords set rent for 5 years.Expenses: Tenant pays taxes, insurance, maintenance, utilities, snow removal, etc.This is a turnkey passive income play with built-in rent growth, perfect for 1031 buyers or investors who want simple mailbox money.In-place Cap Rate 8.6% cap rate.
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0BEDS
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0.85ACRES
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0BATHS
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01/2 BATHS
Description
This is a fully leased Industrial Outdoor Storage (IOS) parcel, leased to a tow operator. The 5 year NNN lease states that tenant pays property taxes. Landlord pays liability insurance ($675/yr). The 5-year NNN lease started April 2024 and has a Renewal option at landlords set rent for 5 years.Expenses: Tenant pays taxes, insurance, maintenance, utilities, snow removal, etc.This is a turnkey passive income play with built-in rent growth, perfect for 1031 buyers or investors who want simple mailbox money.In-place Cap Rate 8.6% cap rate.
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