Description
This industrial Flex Building built in 2003 on 3.24 acres fronting US Hwy 26 and NE Cherry Lane in the Madras Industrial Park, Eagle Ridge Business Park. Zone C-1. The building is100% occupied and has been since it was built 17 years ago. Site plan has 2 acres for expansion, 3 additional buildings contemplated, heavy demand for additional space. Located in the Opportunity Zone which is beneficial to those with 1031 exchanges and the Madras Enterprise Zone that can provide property tax abatement to certain traded sector employment options. Building has 6 roll up doors, 4 of which are 12' wide by 14' high. The property has a monument sign along US Hwy 26 complete with landscaping, excellent curb appeal. The building is fully sprinkled for fire.The current development uses just over 1 acre, with 2 acres for expansion. CAP rate is figured at $750,000 value in current building and $350,000 in additional land. Broker Rick Allen owns 50% of the building.
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0BEDS
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3.24ACRES
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0BATHS
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01/2 BATHS
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11,000SQFT
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$100$/SQFT
School Ratings & Info
Listing courtesy of Willow Canyon Group.Description
This industrial Flex Building built in 2003 on 3.24 acres fronting US Hwy 26 and NE Cherry Lane in the Madras Industrial Park, Eagle Ridge Business Park. Zone C-1. The building is100% occupied and has been since it was built 17 years ago. Site plan has 2 acres for expansion, 3 additional buildings contemplated, heavy demand for additional space. Located in the Opportunity Zone which is beneficial to those with 1031 exchanges and the Madras Enterprise Zone that can provide property tax abatement to certain traded sector employment options. Building has 6 roll up doors, 4 of which are 12' wide by 14' high. The property has a monument sign along US Hwy 26 complete with landscaping, excellent curb appeal. The building is fully sprinkled for fire.The current development uses just over 1 acre, with 2 acres for expansion. CAP rate is figured at $750,000 value in current building and $350,000 in additional land. Broker Rick Allen owns 50% of the building.
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