Absolute NNN Industrial Investment For Sale

InvestmentWarehouse/Industrial 40,348 SF
Print Brochure Contact Listing Agent
1100 Old State Rd
Mattoon, IL 61938
Price: $1,200,000
Building Size: 40,348 SF
Lot Size (acre): 7.66 AC
Zoning: B - Second Gen Industrial
Tax PIN: 07-10-097-400, -098-200
Year Built: 1981 | 1990 | 1997
Cap Rate: 11.43%
NOI: $137,183.20

Property Description

Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale this multi-tenant Industrial asset. The property was constructed in stages starting in 1981 with additions in 1990 and 1997 to the warehouse. This 40,348 SF office warehouse sits on 7.66 Acres and has 6,300 SF of office and the remaining 34,048 SF warehouse space. The office space features numerous offices, breakroom, conference room, and restrooms. The warehouse space has peak clear heights of 24′ -28′, sprinkler system, 9 dock high doors, 3 drive in doors, and 800A/208v 3 phase power. The property features a large 2 acre fenced yard. The current tenant has been in the property for the last several decades and the current lease expires December 31, 2021. The lease is an Absolute NNN lease with zero landlord responsibilities. The property is leased by Anixter Inc., which was purchased by Wesco in 2020. Wesco has 18,000 employees, 800 branches, 150,000 customers worldwide, and $17 Billion in annual revenue.

Location Description

Subject property is located on the south end of Mattoon on Old State road/IL Rt. 7. The property features good interstate access (I-57) within 2.5 miles and Rt. 45 in under 1 mile. Mattoon is located in Coles County and is 12 miles west of Charleston via Rt. 16, 40 miles north of Effingham via I-57, 51 miles south of Champaign via I-57, 130 miles northeast of St. Louis via I-57/I-70, 140 miles southwest of Indianapolis, IN via I-70, and 185 miles south of Chicago via I-57.