Ellison Bakery

Industrial for Sale
Catylist Listing ID: 30403076
Property Subtypes: Food Processing, Free-Standing
Building Size (RSF): 105,698 SF
Gross Building Area: See Agent
Sale Price: $5,796,342
Unit Price: $54.84 PSF
Ceiling: 18 ft. / 35 ft. Clear
Property Use Type: Investment
Building Name: Ellison Bakery
Sale Terms: Other
Cap Rate: 7.75%
Last Updated: 8/12/2019

Overview / Comments

The subject property is 105,698 square feet and will be leased for fifteen years to Ellison Bakery. Ellison is a Fort Waynebased food business specializing in dessert products. Based on proposed financing of 75% LTV, 4.75% interest rate, and a 25-year amortization, the prospective investor would achieve a 10.24% levered return in the first year of ownership. The property is situated in the Airport Corridor, Fort Wayne’s strongest industrial submarket. In addition to the location’s unrivaled proximity to the airport, the site enjoys immediate access to several major transportation thoroughfares. The absolute net nature of the lease implies the tenant’s responsibility for all expenses pertaining to the building including maintenance & repairs and major capital improvements.

Additional Details

Nearest MSA: Indianapolis-Carmel-Anderson
County: Marion
Tax ID/APN: 02-17-05-477-004.000-080
Property Located Between: W. of Airport Drive
Year Built: 1965
Year Renovated: 2007
Parking Description: Ample Parking
Sprinklers: None

View FullscreenMap

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 16,530 81,140
Median Age: 40.96 35.14
Households: 7,389 31,849
© Copyright 2001-2019 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Property Information Exchange (CPIX) nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.