Two Commercial Buildings on 5.2 Acres

Listing Number: 7301-717503

Description

This is a great opportunity to own 2 commercial buildings on 5.2 Acres of commercial property. The first building is a Gun Range/ Retail Gun Store. Located off a major thorough fare, this building was built to the highest standards. The Gun Range is made of thick concrete block and has a state-of-the-art filtration system, this 30k sq ft building was completed in 2008 and has room to add an additional 8 shooting lanes for a total of 16 lanes. This building would cost over $9mm to construct in today’s market (not including the land). The adjacent building located on the same property is a 36k sq ft open warehouse with several 14ft high doors for easy access and over 20ft high ceilings. This building was completed in 2009 and would cost over $7.2mm to construct without the land. Both properties are currently occupied and new leases can be obtained at the current market value of $1.2mm annually. That’s a 7.5 cap rate!

Listing Details

• Price: $13,000,000
• Down Payment: $13,000,000
• Sellers Discretionary Earnings: $760,000
• Total Sales: $1,200,000
• Location: Okeechobee County, Florida


• Inventory: $0
• FF&E: $0
• Employees:
• Year Established: 2007
• Reason for Selling: Other Interests
• Category: Real Property Rltd