824 Mary Helen Dr Chipley, FL 32428

1,980 SF 12.92 ac lot Built 2005

Entity Owned 5-yr Hold Absentee Owner Free & Clear

Property ID

US18-4516469

$18,407/Mo 40,736 SF available

824 Mary Helen Dr, Chipley, FL 32428
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This exceptional investment opportunity presents a 33,983-square-foot warehouse situated on a spacious 12.92-acre lot in Chipley, Florida's industrial park. The property boasts a 32,000-square-foot warehouse featuring a 25-foot ceiling height, two ground-level roll-up doors, one loading dock with a four-foot truck well, concrete load-stressed floors, metal roofing, and a complete fire suppression system. A 1,983-square-foot office space, constructed in 2007, complements the warehouse. Currently leased to WestPointe Home, a division of Ichan Industries, the lease offers below-market rates with approximately two years remaining and no tenant options. The property benefits from 220/240V, 3-phase power, and city water/sewer. Strategically located three miles from Interstate 10, this warehouse enjoys excellent access to Tallahassee, Pensacola, Montgomery, and Panama City metropolitan areas. Adjacent vacant land offers potential for future expansion. The warehouse was built in 2005, and the current Net Operating Income (NOI) yields a 7.61% capitalization rate. This presents a compelling investment opportunity with strong potential for future returns.