5890 Industrial Pkwy Theodore, AL 36582

Property Details for 5890 Industrial Pkwy

Year built

1977

Lot size

5.00 lot acres

Property size

89,770 SF

Property type

Industrial properties

Property subtype

Manufacturing properties

Description

This exceptional investment opportunity presents a 89,770 square foot Class C industrial manufacturing facility located at 5890 I-10 Industrial Pkwy S, Theodore, Alabama 36582. The property sits on a five-acre lot and boasts a 45-foot ceiling height, ideal for heavy-duty operations. The building, constructed in 1977 and extensively renovated in 2024, features 40,000 square feet of climate-controlled space, six craneways, eleven hooks, and a 25-ton maximum lifting capacity. A 30-ton lifting capacity is also available. The property is currently leased to GEXPRO Services under a new 10-year NNN lease commencing April 2025, with two five-year renewal options and a 10% rent increase in year six. The lease provides significant long-term stability and a strong income stream, with a current NOI of $681,000 and a 7.52% cap rate. The asking price is $9,050,000, translating to $100.81 per square foot. GEXPRO Services, a tenant and guarantor, is part of the publicly traded Distribution Solutions Group, adding further security to this investment. The property's strategic location in Theodore, Alabama, offers excellent access to major transportation arteries, including Interstate 10 and the 90 Freeway, providing easy connectivity to the Southeastern US. Theodore's proximity to Mobile, Alabama's third-largest city, and its thriving manufacturing, maritime, logistics, aerospace, and steel industries, further enhances the property's value and potential for future growth.