280 S River Road Building Only

Industrial for Sale
Catylist Listing ID: 30759620
Property Subtypes: Flex Space, Free-Standing, Manufacturing, Light Industrial, Net Leased
Building Size (RSF): 24,960 SF
Gross Land Area: 2.20 Acres
Sale Price: $8,200,000
Unit Price: $328.53 PSF
Ceiling: 12 ft. / 8 ft. Clear
Docks/Doors: 2 Docks, 2 Doors
Property Use Type: Net Leased Investment (NNN), Investment, Business
Building Name: TRM
Usable Size (USF): 24,960 SF
Sale Terms: Other
Average Occupancy Rate: 100
Last Updated: 11/19/2021

Overview / Comments

Top of the line and state of the art newly constructed building in 2020. This investment has a 100% true triple net lease with an annual NOI of $334,800 giving the investor an opportunity to acquire a building using cash or a 1031 tax free exchange. Building is leased to a very strong company that deals with long term clients throughout the United States. The interior of the building boast of Class A office space, conference rooms, cafeterias, light manufacturing and assembly areas. This building has 1000 amp electrical service in the new addition and 600 amp in the original building with generator backup, very extensive HVAC system with UV lights in vents to kill viruses and many more interior features. Full one foot thick firewall top to bottom separating the building if needed with a security door. This property also has parking for 80 cars and strategically located shipping dock areas. Located in a prime convenient location in Bedford NH on Route 3 making this an attractive investment for now and in the future. One of Sullivan Construction's most beautifully constructed buildings known as the TRM building. Sale is building only, long term lease in place. Original building built in1989 with complete refurbishment completed in 2021 and new building addition completed fall of 2020.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $16,699 (Annual)
Tax Value Land $752,500
Tax Value Improvements $1,324,300
Assessed Value - Total($) $2,076,800 (Annual)
Potential Rental Income $334,800 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name TRM
Is Renting? Yes
SF of Space Occupied 24,960 SF
Lease Expiration 12/2027
Escalations CPI increase 1.5%
Options 2- 5 year options.

Additional Details

Nearest MSA: Manchester-Nashua
County: Hillsborough
Tax ID/APN: 24-98-12
Zoning: PZ
Property Located Between: Hawthorne Drive & Sunset Lane
Highway Access: Located on Route 3, Near Route 101/I-293, & Everett Turnpike.
Airports: Manchester-Boston Regional
Site Description: Corner, Curbing, Landscaped, Level, Neighbor Business
Area Description: Commercial Zoning, Near Country Club, Near Golf Course, Near Shopping
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Excellent
Year Built: 1989
Year Renovated: 2021
Roof Type: Flat
Construction/Siding: Other
Exterior Description: All New Brick Veneer, Glass, Metal, Stucco
Parking Type: Surface
Parking Description: On-site parking, 21+ spaces, unassigned, employee and visitor, paved lot.
Total Parking Spaces: 80
Column Spacing: Varies
Passenger Elevators: 1
Sprinklers: Wet, Dry
Amps: 1,000
X-Phase: Two-Phase
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Lighting: LED
Interior Description: Executive offices, open concept offices, multiple conference rooms, 2 full modern fully equipped kitchens, 2 kitchenettes, production room, manufacturing room. Completely modern.
Zoning Description: Commercial Zoning, Performance Zone.
Lot Frontage: 230 Feet
Lot Depth: 285 Feet
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Privately Owned
Legal Description: Mblu 24/ 98/ 12//

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,983 48,273 146,535
Median Age: 42.25 39.58 37.6
Households: 2,041 18,543 56,706

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