200 Enterprise Dr Newcomerstown, OH 43832-8954

Property Details for 200 Enterprise Dr

Year built

1999

Lot size

5.00 lot acres

Property size

2,160 SF

Property type

Manufacturing properties

APN

45-02540.001

APU

4502540001

Description

This exceptional investment opportunity presents a fee-simple ownership of a 62,310-square-foot warehouse located at 200 Enterprise Dr, Newcomerstown, OH 43832. The property, built in 1989 and situated on a five-acre lot, is currently 100% occupied under a long-term, absolute NNN lease with Paragon, commencing January 1, 2024, and expiring December 31, 2030 (6.1 years remaining). The asking price is $3,500,000, representing a compelling $56.17 per square foot and a 7.95% cap rate based on a Net Operating Income (NOI) of $278,100. The warehouse boasts a single-tenant occupancy, minimizing management complexities. The building features two spacious clear-span bays (100' x 200' and 100' x 400'), offering ample storage and operational space. The high ceilings, ranging from 18' to 21' at the center, provide significant vertical clearance. Three dock-high doors equipped with levelers, along with four 28' x 14' ground-level power doors, ensure efficient loading and unloading. A comprehensive sprinkler system and a robust 400 Amp 480/277 Volt 3-Phase power supply enhance safety and operational capabilities. Further enhancing the property's functionality is a substantial 15,000 square foot loading pad and an outside storage area. There are no lease options available. This is a prime opportunity for a passive income investment with a strong, long-term tenant.