For Sale
$1,895,000

824 Mary Helen DrChipley, FL 32428

33,983 SF Warehouse, 12.92 Acres

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 33,983-square-foot warehouse situated on a spacious 12.92-acre lot in Chipley, Florida's industrial park. The property boasts a 32,000-square-foot warehouse featuring a 25-foot ceiling height, two ground-level roll-up doors, one loading dock with a four-foot truck well, concrete load-stressed floors, metal roofing, and a complete fire suppression system. A 1,983-square-foot office space, constructed in 2007, complements the warehouse. Currently leased to WestPointe Home, a division of Ichan Industries, the lease offers below-market rates with approximately two years remaining and no tenant options. The property benefits from 220/240V, 3-phase power, and city water/sewer. Strategically located three miles from Interstate 10, this warehouse enjoys excellent access to Tallahassee, Pensacola, Montgomery, and Panama City metropolitan areas. Adjacent vacant land offers potential for future expansion. The warehouse was built in 2005, and the current Net Operating Income (NOI) yields a 7.61% capitalization rate. This presents a compelling investment opportunity with strong potential for future returns.

Highlights

  • 33,983-square-foot warehouse on a 12.92-acre lot in Chipley, FL industrial park.
  • 32,000-square-foot warehouse with 25-foot ceilings, two ground-level roll-up doors, one loading dock, concrete floors, metal roof, and fire suppression system.
  • 1,983-square-foot office space (built 2007).
  • Currently leased below market rate to WestPointe Home (Ichan Industries) with ~2 years remaining, no tenant options.
  • Features 220/240V, 3-phase power, city water/sewer, and excellent I-10 access (3 miles).
  • Adjacent vacant land for expansion. Built in 2005, current NOI yields a 7.61% cap rate.

Property Details for 824 Mary Helen Dr

Property type
Warehouses, Industrial properties
Square Feet
33,983 SF
Year Built
2005
Stories
1

Location Insight

City
Chipley
County
Washington
State
Florida
Latitude
30.767134
Longitude
-85.521874
824 Mary Helen Dr, Chipley, Florida

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824 Mary Helen Dr
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