Zenith Fuel Systems - Industrial Net Lease

Industrial for Sale
Catylist Listing ID: 30638040
Property Subtypes: Free-Standing, Industrial-Business Park, Manufacturing, Light Industrial, Net Leased
Building Size (RSF): 108,898 SF
Gross Building Area: See Agent
Gross Land Area: 12.70 Acres
Sale Price: $2,900,000
Unit Price: $26.63 PSF
Ceiling: 16 ft. Clear
Docks/Doors: 6 Doors
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 7.5%
Last Updated: 10/14/2020

Overview / Comments

The TCI Group-Jerry Petzoldt Agency is pleased to offer for sale to qualified investors industrial property occupied by Zenith Fuel Systems at 14570 Industrial Park Rd in Bristol, Virginia. The site consists of 108,898 sq ft manufacturing facility on an estimated 12.7 acres. Zenith Fuel Systems has been the tenant at the facility for the last 30+ years since it was built in 1984. A new 5-year lease commencing September 1, 2020 through August 31, 2025 signals a continuing strong tenant commitment at this site. This property is the essential element of production and tenant could not continue or replicate their operations without the facility.

A well-maintained facility with roof warranty running through June 2035, clear heights of 16 feet, 6 loading areas, 3000-amp 480/277 volt power, modern HVAC and plumbing systems and full sprinkler system. The property is situated on Industrial Park Drive in a well established industrial and manufacturing park with close proximity to major north-south I-81 interstate. Other manufacturing and industrial companies in the direct area include Universal Fibers, Spig Industries and Home Pride. Property is directly across from power plant operated by Wolf Hills Energy, an affiliate of Constellation Power Source. See links for further city, county and economic development information.

Zenith Fuel Systems, founded in 1911 has been synonymous with quality, technology and leadership. The Zenith carburetors, kits and fuel systems components have been the first choice of almost every engine manufacturer for more than 95 years. Today, the company headquarters and a modern manufacturing facility is located in Bristol, Virginia, still offering original manufacturing equipment and replacement carburetors and kits. See link for further details.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $13,992 (Annual)

Current Tenants

Tenant Business Name Zenith Fuel Systems LLC
Website URL http://www.zenithfuelsystems.com/
Industry Type Manufacturing
Is Renting? Yes

Additional Details

Nearest MSA: Kingsport-Bristol
County: Washington
Tax ID/APN: 122A 15 & 142 A 9A
Tenancy: Single Tenant
Year Built: 1987
Construction/Siding: Brick, Metal Siding
Parking Type: Surface

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 8,839 29,381
Median Age: 44.09 42.21
Households: 3,700 12,596
The information presented herein is provided as is, without warranty of any kind. Neither Northeast Tennessee Association of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.