Industrial Property with NNN
For Sale
Contact for pricing
240 South Meridian Road, Mitchell, IN 47446
Freestanding industrial facility on acreage, leased on a 20-year NNN basis with scheduled annual rent increases.
Property Size78,361 SF
Lot Size7.53 Acres
Price / SF$95.39
Days on Market51
Property Features for 240 South Meridian Road
General Information
Standard status
Active
Size
78,361 SF
Lot size
7.53 Acres
Property subtype
Industrial
Occupancy
100%
Additional Details
Business Included
Yes
Building Details
Year Built
1980
Tenancy
Single
Listing Agency:
SURMOUNT
(332) 345-4222
Listed By:
Edward Otocka · License #NY 10401298466
Source:
Crexi
Added: Jun 16
Changed: Jul 10
Last Checked: Aug 5 at 12:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SURMOUNT
Investment Insights
Based on property information with market context.
This property is a Basin Industries industrial facility comprising approximately 78,000 rentable square feet within a 7.53-acre parcel. The transaction is structured as an exclusive sale listing with a long-term tenant commitment, and the building is currently under a Triple Net (NNN) lease.
The 20-year NNN lease is set to commence upon close of escrow. The annual rent is $560,625, with scheduled rent increases of 2.00% annually over the lease term.
For buyers seeking a stable, leased industrial asset, this offering provides a turnkey structure through the NNN lease terms and a remaining lease duration of 20 years beginning at closing. The property’s industrial configuration and dedicated lease setup are designed for investors or owners who want exposure to income-producing commercial real estate without operating expense responsibility, consistent with the NNN structure described in the offering materials.
The 20-year NNN lease is set to commence upon close of escrow. The annual rent is $560,625, with scheduled rent increases of 2.00% annually over the lease term.
For buyers seeking a stable, leased industrial asset, this offering provides a turnkey structure through the NNN lease terms and a remaining lease duration of 20 years beginning at closing. The property’s industrial configuration and dedicated lease setup are designed for investors or owners who want exposure to income-producing commercial real estate without operating expense responsibility, consistent with the NNN structure described in the offering materials.
Key Highlights
- Freestanding industrial facility built in 1980 on an estimated 7.53‑acre parcel
- Approximately 78,000 rentable SF of building space
- 20‑year Triple Net (NNN) lease with commencement upon close of escrow
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 47446, IN
9,425
Population
3,998
Households
2.4
Avg Household Size
44
Median Age
17%
College-Educated
89%
High-School Grad
125.4 sq mi
ZIP Area
75
Density / Sq Mi
$53,182
Median Household Income
$33,680
Median Earnings
$765
Median Rent
$141,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Freestanding industrial facility on acreage, leased on a 20-year NNN basis with scheduled annual rent increases.
Where is this nnn property located?
The property is located at 240 South Meridian Road Mitchell, IN.
What is the asking price?
The asking price for this property is $7,475,000.
What are key features of this property?
This property features: Freestanding industrial facility built in 1980 on an estimated 7.53‑acre parcel; Approximately 78,000 rentable SF of building space; 20‑year Triple Net (NNN) lease with commencement upon close of escrow
