Industrial Sale-Leaseback

Industrial for Sale
Catylist Listing ID: 30348767
Property Subtypes: Manufacturing
Building Size (RSF): 30,774 SF
Gross Land Area: 18.50 - 39.90 Acres
Sale Price: $3,000,000
Unit Price: $97.48 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN)
Building Name: Flexible Liner Underground Technology Mfg. Facility
Sale Terms: Sale/Leaseback
Cap Rate: 8.0%
Average Occupancy Rate: 100
Last Updated: 9/20/2021

Overview / Comments

This is an investment offering at an 8% cap rate with a 5-year, absolute triple-net lease-back from Flexible Liner Underground Technologies (FLUTe), a manufacturer of patented environmental technologies. This offering is located in an Opportunity Zone as described in the 2017 Tax Cuts and Jobs Act with the potential for step up in basis, deferred capital gains or excluded capital gains subject to publication of final IRS rules. FLUTe is offering to sell their manufacturing facility and lease it back as part of a strategic move to free up capital for operations, expansion, and licensing of intellectual property. The main manufacturing building is 26,383sf sited near an office measuring 1,869sf, a conference/lounge building of 2,425sf and a residential trailer. The property is offered on 18.5 acres served by heavy 3-phase power, two wells, and natural gas. Additional land and water rights are available. The facility is on rural land on New Mexico State Highway 68 about 45 minutes north of Santa Fe and 1 hr and 45 minutes from Albuquerque, NM. The seller will reserve a ROFR and option to buy back the building for purchase price + 10%.

Additional Details

Nearest MSA: Espa
County: Rio Arriba
Taxing Authority: Rio Arriba County
Tax ID/APN: 1050130488069
Property Located Between: Alcalde and Velarde NM
Highway Access: NM State Highway 68 with turn-in, turn-out in both directions.
Site Description: Located in a rural area on the west side of NM 68 between Alcalde NM and Velarde NM in an Opportunity Zone associated with Census Tract 3 in Rio Arriba County (FIPS 35039000300). Turn lane access available from both directions on NM 68. About 45 minutes north of Santa Fe, NM.
Tenancy: Single Tenant
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Good
Year Renovated: 2013
Roof Type: Gable
Construction/Siding: Steel Frame
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Ceiling Units
Lighting: Fluorescent, High Pressure Sodium
Internet Access: Satellite
Zoning Description: Rural zoning
Water Service: Well
Sewer Type: Septic
Easements: Ingress/Egress
Land Ownership: Fee simple

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 1,341 7,264
Median Age: 35.15 36.84
Households: 489 2,711


Photograph of Listing Agent

Tai Bixby

NAI SunVista CARNM CIE Member
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