69,000 Sq Ft Industrial Warehouse Flex Space in Montgomery Co. on 5.1 Acres. Numerous tenants and great opportunity for extra Owner- User space. Online Bidding only.
Bidding starts at $500,000. The "Buy it Now" price is $700,000.
Monthly rents average $6,600 for an annual gross rents of $79,200. About 75% of the space is currently leased to long term tenants. The remaining space could be built out for new tenants or occupied by an owner-user. Tons of up-side if you own this property. Brand new warehouse construction across the street. This section of Trotwood is being revitalized.
Built in 1970, there were originally four 12,000 SF buildings however over time the alleyways between each building became additions eventually connecting all of the buildings for a total of 69,003 SF. Each original 12,000 SF building was equally partitioned into four 3,000 SF suites with approximately 1,000 SF of office space and 2,000 SF of flex space in the rear. The warehouse space has a man door and an overhead door. Ceiling height in an average suite warehouse is approximately 13 feet. Each suite is metered separately for all utilities. There are generous amounts of offices in each suite as well as a mens and womens bathroom. Ample parking in front and rear of the building. Most but not all of the property has a sprinkling system which has been inspected each year.
There is a new survey on the property. The current owner recently sold the property to the West. Taxes for the subject property Should go down as the $23,204 includes the property that was sold.
Address 5885 goes to the largest tenant, Westwood Finishing. They occupy about 20,000 SF and pay $3,725 per month. They are a paint and coatings company that have been a tenant for years. There is heavy electric to their unit. Part of their space is a very large open warehouse on the rear of the building with large overhead doors.
An out of state investor was interested in purchasing the subject property in 2022. They had a Phase I and II performed on the property. See attached Phase II regarding low levels of certain chemicals that were found in the soil samples. A back unit has a 25 foot deep concrete pit that was used for water and oil separation in the manufacturing of circuit boards, which was the reason for the Phase II.
Easy in and out to Wolf Creek Pike which is just East of Olive Road in Trotwood. I-70 is just a short 12 minute drive from the property. Current rents are below market value and could be adjusted accordingly. The property is zoned I for Light Industrial Warehouse. The Auditor value is approximately $600,000. The current owner is in his 90's and wishes to liquidate some of his portfolio. Don't miss this opportunity to gain a great investment property with lots of square feet for a minimal price! Online Bidding Only, Register today!
Lot Size: 5.115 Acres
Annual Taxes: $ 23,204
LEAD AUCTIONEERBarry Baker
Sells with a stated reserve of $500,000. The buy it now price is $700,000. 10% down by cash or check which will become your non refundable deposit. The real estate is sold As Is with no contingencies. All inspections must be done prior to Auction. Close within 30 days. A 10% buyer's premium will be added to the high bid to obtain the final contract selling price. Short tax proration. Buyer pays all closing costs. General warranty deed given at closing with no liens or back taxes.
Deposit and Closing:
Nova Title Agency, 440-600-5550, smannarino@NovaTitleAgency.com
Realtor showings and cooperation are encouraged. For full compensation instructions, see Realtor Registration form. Please call Auctioneer to schedule all showings.