Property Details for 301 Brooks St

Year built

1939

Lot size

1.11 lot acres

Property size

169,043 SF

Property type

Industrial properties

Property subtype

Manufacturing properties

Description

This exceptional investment opportunity presents a 15-year absolute net sale-leaseback of a five-building industrial portfolio totaling 169,043 square feet. The portfolio is primarily situated in the Jackson, Mississippi market, with one building located in Marine City, Michigan. The property features a diverse range of light manufacturing facilities, boasting ceiling heights ranging from 14 to 20 feet. The current tenant, Multicraft, a well-established manufacturer with a strong track record, occupies 100% of the space under a 15-year lease with 3% annual rent increases. The lease includes two five-year renewal options at fair market value. The portfolio generates a substantial net operating income (NOI) of $1,014,258, resulting in an attractive 8.82% capitalization rate. The asking price for this exceptional sale-leaseback opportunity is $11,500,000. The properties are situated on land parcels ranging from 1.11 to 10.17 acres and are zoned for light industrial, limited industrial, or special use, depending on the specific location. Built between 1939 and 2000, these buildings offer a blend of established infrastructure and potential for future expansion. The tenant has no credit rating, but the long-term lease and strong operational history mitigate this risk. This portfolio represents a compelling investment opportunity with significant long-term value and stable cash flow. The portfolio's location offers access to major transportation routes and a skilled workforce. This is a rare opportunity to acquire a high-quality, income-producing industrial portfolio with a long-term, creditworthy tenant.

Location Insight

City

Pelahatchie

County

Rankin

State

Mississippi

Longitude

-89.7999

Latitude

32.3171