± 17,328 SF two-storey, office building (± 8,664 SF per floor)
± 1.05 acres (± 45,507 SF) with 231’ frontage to 8th Ave service road x 197’ deep
Ample on site parking on all sides of building
Surface Parcels 113866184 and 113866207
C3 – Commercial, Industrial Mixed Use District provides for a range of uses including agricultural, auto-oriented customers, and businesses requiring larger sites
VENDOR LEASEBACK OPTIONS
The Vendor will commit to a ten-year leaseback (plus two five-year options to renew) on the entire 17,328 SF building to be reduced by 4,880 SF (area outlined within floorplan on pg 3) to 12,448 SF at the end of year two. The net rental rate for the first two years shall be calculated at an 8% cap rate based on the value of the agreed-upon purchase price. After that, the rental rate shall be contracted at $14.00 net on the 12,448 SF. At their option, with one calendar year’s notice, the Vendor/Tenant will be given the option to vacate the entire premises after the 7th anniversary of sale/leaseback.
The Vendor/Tenant would also consider a ten-year leaseback with all of the above-mentioned terms on 12,448 SF, providing an opportunity for an owner-occupant or another tenant to co-occupy the remaining portion of the building from the commencement of the lease.