Listing Agency: FW Logistics

Listed By: Frank Van Bree · License #123456

Source: Crexi

Added: Apr 14 Changed: Oct 5 Last Checked: Oct 14 at 8:41PM

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Investment Insights

Based on property information with market context.

This manufacturing property is configured for refrigerated food production and related cold-storage functions. Its layout includes 174,623 SF of refrigerated processing space, along with dedicated areas for preparation and cooking, freezing, cooling, dry warehousing, maintenance, and utilities. The property supports fully cooked-to-frozen protein meal production, partial frying and freezing, and adaptation for fresh or frozen pet products.

The 328,801 SF property is located at 2300 Industrial Drive in Monterey, Tennessee. Functional areas include 25,839 SF for prep and cooking, 31,698 SF of freezer space, 14,185 SF of cooler space, 38,838 SF of dry warehouse space, and 37,059 SF dedicated to maintenance and utilities. The combination of processing, temperature-controlled storage, and support areas creates an integrated manufacturing configuration.

Key Highlights

• 174,623 SF of refrigerated processing space
• 25,839 SF prep and cook area
• 31,698 SF freezer and 14,185 SF cooler space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$2,621,072

Cap Rate

8.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$52,421,440 $52.4M

Cap Rate 7%

$37,443,886 $37.4M

Cap Rate 9%

$29,123,022 $29.1M

Market Conditions

NOI Build-Up for 328,801 SF

Gross rent

$3.23M $9.81/SF

− Vacancy

−$141.9K −$0.43/SF

EGI

$3.08M $9.38/SF

− OpEx

−$462.5K −$1.41/SF

NOI

$2.62M $7.97/SF

Area

Putnam County, TN

Vacancy

4.40%

Lease Rate

$9.81 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$52,421,440

Cap Rate 7%

$37,443,886

Cap Rate 9%

$29,123,022

Alternative Uses

Best Use

Warehouse

$37.44M

$32.76M – $43.68M (±1% cap)

NOI $2,621,072 @ 7.0% cap · market cap 8.74%

Second Best

Industrial

$30.84M

$26.98M – $35.98M (±1% cap)

NOI $2,158,530 @ 7.0% cap · market cap 7.20%

Theoretical Best

Office A

$135.70M

$118.74M – $158.32M (±1% cap)

NOI $9,499,140 @ 7.0% cap · market cap 31.66%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Perdue Farms Inc. Food Processing Plant Woodard & Curran Association Or Organization

Suggested Use

Top Pick Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

17

Businesses Nearby

Explore this area Business Placement

Demographics for 38574, TN

8,816

Population

3,827

Households

2.3

Avg Household Size

45

Median Age

12%

College-Educated

78%

High-School Grad

169.3 sq mi

ZIP Area

52

Density / Sq Mi

$52,043

Median Household Income

$34,167

Median Earnings

$800

Median Rent

$175,900

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this manufacturing properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Manufacturing property - Manufacturing property with refrigerated processing, cooking, freezing, warehouse, maintenance, and utility areas.

Where is this manufacturing property located?

The property is located at 2300 Industrial Drive Monterey, TN.

What is the asking price?

The asking price for this property is $30,000,000.

What are key features of this property?

This property features: 174,623 SF of refrigerated processing space; 25,839 SF prep and cook area; 31,698 SF freezer and 14,185 SF cooler space