2010 2Nd Ave Seymour, IN 47274
- Warehouses
- 720,150 SF
Current Use by Public Records
- Warehouses
Property Details for 2010 2Nd Ave
- Property size
- 720,150 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a 720,150-square-foot multi-tenant industrial park in Seymour, Indiana. Comprising sixteen single-story buildings, the portfolio boasts a remarkable 97.1% occupancy rate, generating a strong net operating income (NOI) of $2,819,191 and a 9.53% cap rate. The asking price is $29,575,000, translating to $41.07 per square foot. Key tenants include Valeo, a long-standing automotive lighting systems manufacturer occupying 489,000 square feet across ten buildings, and Packaging Corporation of America (PCA), occupying 100,000 square feet. Eight smaller tenants contribute an additional 103,100 square feet. Significant upside potential exists through lease renewals with Valeo, whose current leases on five buildings totaling 236,000 square feet are 24% below market rates. The property's strategic location in the Midwest, coupled with recent infrastructure improvements including a completed $30 million bypass providing direct access to Interstate 65, enhances its appeal and long-term value. The portfolio's strong tenant base, high occupancy, and substantial potential for rental increases make it an attractive core-plus investment. The property is located in Jackson County, Indiana, with addresses spanning 2010 2nd Ave, 624 B Ave E, 731 A Ave E, 757 A Ave E, 400 S Airport Rd, 2060 1st Ave, 845 A Ave E, and 759 A Ave E, all in Seymour, IN 47274.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Seymour
- County
- Jackson
- State
- Indiana
- Longitude
- -85.9071
- Latitude
- 38.9254
