For Sale
$2,000,000

377 Gateway DrChillicothe, OH 45601

Investment-grade, 100% occupied, strong lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This fee-simple industrial property, located at 377 Gateway Dr, Chillicothe, OH 45601, presents a compelling investment opportunity. The 12,555 square foot distribution center sits on a 5.02-acre lot and is currently 100% occupied by FedEx, a credit-rated tenant with a strong commitment to the location. Built in 1990, the single-building property features 24 loading docks. The property is offered at $2,000,000, representing a price per square foot of $159.30 and a 6.20% cap rate, based on a Net Net (NN) lease structure with a current NOI of $124,200. The lease includes a 10-year extension with an 8% rental increase. Further lease options are available (see offering memorandum). This offering provides a stable, long-term income stream with minimal landlord responsibilities, backed by an investment-grade tenant in a strategically located Ross County market. The property is priced below replacement cost, making it an attractive investment for discerning buyers. The offering memorandum contains further details regarding rent bumps and lease options.

Highlights

  • 10-Year lease extension with 8% annual rent increases.
  • Investment-grade tenant (FedEx) with a BBB/Stable S&P rating.
  • Strong Ross County market fundamentals.
  • Strategically located in Ross County.
  • Long-term lease provides stable income.
  • Priced below replacement cost.

Property Details for 377 Gateway Dr

Property type
Industrial properties, Distribution centers
Square Feet
12,555 SF
Year Built
1990
Buildings
1
Lot Size (sq. ft)
218,671 SF

Location Insight

City
Chillicothe
County
Ross
State
Ohio
Latitude
39.3610098
Longitude
-83.0003966
377 Gateway Dr, Chillicothe, Ohio

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377 Gateway Dr
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