159 Grassy Plain Street

Industrial for Sale
Catylist Listing ID: 30582399
Property Subtypes: Flex Space, Free-Standing, Industrial-Business Park, Manufacturing, Light Industrial, Net Leased, Office Showroom, Self Storage, Warehouse/Distribution, Other
Building Size (RSF): 35,512 SF
Gross Land Area: 3 Acres
Sale Price: $2,975,000
Unit Price: $83.77 PSF
Ceiling: 17 ft. / 16 ft. Clear
Docks/Doors: 1 Dock, 3 Doors
Office SF: 8,952 SF
Drive In Bays: 2 Bays
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Building Name: Magellan Aerospace
Usable Size (USF): 35,512 SF
Sale Terms: Cash to Seller
Cap Rate: 0.08%
Average Occupancy Rate: 100
Last Updated: 1/11/2021

Overview / Comments

Fully Leased Investment Sale with two brand new leases in place. Offered for sale at $2,975,000. with an NOI of $240,500 and a cap rate of approximately 8%. See the enclosed link under "Other Files" for the Offering Memorandum and investment analysis. Please complete the enclosed NDA agreement to unlock the Offering Memorandum.

The property is located adjacent to the Clark Business Park on Route 53 in Bethel CT. and conveniently only 10 minutes from I-84 at Exit 5. The property is in good condition - fully sprinklered - 4,000 amps of power with 85 parking spaces. Clean environmental inspections and reports are in place and available for review. This 35,160 s.f. manufacturing facility was built in 1984 and has 8,952 s.f. of office space. The building is situated on 3 Acres. The taxes are low at $36,995 for the 2020-2021 tax year. Property is serviced by public gas, municipal water, and municipal sewer. The property is zoned IP allowing a wide range of uses.

Call J. Michael Struna or Chris Cosio for additional details at 203-798-9345 or email Mike@AdvantageRealtyInc.com for an appointment.

Current Tenants

Tenant Business Name Handler Manufacturing
Tenant Business Name Milocer, Inc.

Additional Details

Nearest MSA: Bridgeport-Stamford-Norwalk
County: Fairfield
Taxing Authority: Town of Bethel
Tax ID/APN: 09 23 014-2
Market Type: Medium
Property Located Between: Routes 53 and 302
Side of Street: South
Road Type: Highway
Transportation: Highway
Highway Access: I-84 Exit 5 and 8
Airports: Westchester International and Bradley International
Site Description: Building situated on level 3 acres, between Routes 53 and 302 in Bethel.
Area Description: Property is located next to Bethel's thriving Clarke Business Park. Major manufacting and distribution area of Danbury is 5 minutes away.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 35,160 SF
Property Condition: Good
Year Built: 1984
Year Renovated: 1999
Roof Type: Flat
Construction/Siding: Block, Metal Siding, Steel Frame
Exterior Description: Masonry with Siding
Parking Ratio: 2.4 (per 1000 SF)
Parking Type: Surface
Parking Description: 85 Lined and Numbered Spaces border the building.
Total Parking Spaces: 85
Eave Height: 15
Overhead Cranes: Undisclosed
Sprinklers: Wet
Amps: 4,000
X-Phase: 3
Heat Type: Electricity, Natural Gas
Heat Source: Ceiling Units
Air Conditioning: Package Unit
Lighting: Fluorescent
Internet Access: Cable, DSL
Interior Description: Clean, well-lighted manufacturing/assembly areas and offices. Conference Room, Break Room, and 2 large bathrooms.
Zoning Description: IP (Industrial Park)
Lot Frontage: 100
Lot Depth: 418
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,129 57,037 104,720
Median Age: 39.15 36.66 38.08
Households: 2,488 20,403 37,597
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