Net Leased Industrial Chipley

This Chipley, Florida Industrial Commercial property offers a central point of accessibility, efficiency, and opportunity. With direct access to key transportation corridors and close proximity to major markets in the central panhandle area. The property at 824 Mary Helen Drive is a logistically well positioned hub for manufacturing, storage and distribution.Located in in Washington County on 12.92 acres of land with 2 buildings, a 32,000 SF warehouse building and a 1,983 SF office space that is currently net leased to WestPointe Home, a division of Ichan Industries. The below market rate lease term runs for approx. 3 more years with no tenant options. The warehouse has 25-foot ceiling heights, 2 ground-level roll up doors, 1 loading door with 4' truck well, concrete load-stressed floors, metal roofing, and full fire suppression. The property also has 220/240V, 3 phase power and City water/sewer, in an prime area for growth. Additionally, there is adjacent unimproved and vacant land of approximately 7.2 acres to potentially construct other buildings on-site. Strategically located within the Chipley Industrial Park, and an approximate 3 mile distance to Interstate 10, this building provide optimal positioning to service Tallahassee, Pensacola, Montgomery, and Panama City MSA's. Constructed in 2005, the Chipley Warehouse includes a 1,983 SF office building built in 2007 and is in very good condition. CAP rate on current NOI is 7.07%.