Sq.ft
MLS NUMBER
415695
LISTING DATE:
0 Days Ago
LOT SIZE
2 Acres
AREA:
Bozeman City Limits
PRICE
$9,500,000
GARAGE
SUBDIVISION:
N/A
LEVEL / STORIES:
N/A
TYPE
N/A
STATUS:
Active
YEAR BUILT:
1958
516 E Tamarack is 2.54 acres of NEHMU-zoned land inside Bozeman city limits, blocks from downtown and the Cannery District, improved with a 33,981 SF industrial building. At closing, Lattice Materials, an affiliate of the seller, leases it back at a triple-net rate of $17.00/SF for two years, plus a one-year option. Year one of the lease would yield $577,677, with 3% increases. The going-in cap rate is 6.08% at the $9,500,000 ask. Tenancy disclosure: This is a sale-leaseback. The tenant is related to the seller, and the lease begins at closing rather than continuing from a prior term. The two-year term, the $17.00 per square foot starting rent, and the 3% annual increases are proposed terms that will be documented in the purchase agreement. There is no executed lease.
Listing courtesy of: EndState Commercial
(Data provided by Gallatin-BigSky-BSC data)