Power Drive Holdings Property - Sale Lease-Back

Power Drive Holdings Property - Sale Lease-Back

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Industrial, Investment: 10,001+ sq. ft.

Location:
1409 North K Avenue
Sioux Falls, SD 57104

Sq. Feet: 15,760 sq. ft. (Two Buildings)
For Sale: $1,400,000.00
Status: Available
Listing Agent: Reggie Kuipers

1409 North K Avenue

Main Building:       8,760 sq. ft.
Storage Building:  7,000 sq. ft.
Lot Size:               175,805 sq. ft.
Main building built in 1969; storage in 2003.

Located along K Avenue with frontage on Delaware Street and Cherokee Street.  Main building has office area and shop space with three (3) overhead doors.  Storage building is not heated and has one 14’  overhead door.  2+ acres of fenced outdoor storage.  Rail access via BNSF Railway.  Power Drive Holdings will leaseback the property for 10-years.  Contact Broker for lease details.  Sale price represents a 7.91% cap rate.  Additional ground lease income from Krier & Blain and Pinnacle Propane.