This is an excellent 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%.
- Price:
- $3,000,000
- Square Footage:
- 30,680
- Acreage:
- 18.50
- Listing ID #:
- 201805302
- Street Address:
- 1091 State Hwy 68
- City:
- Velarde
- State:
- New Mexico
- Postal Code:
- 87582
- County:
- Rio Arriba
- Community:
- 36-Velarde
- Listing Status:
- Active
- Construction Description:
- Frame, Steel Siding
- Flooring:
- Concrete Slab
- Miscellaneous Features:
- Auto Bay, Delivery Door, Fencing, Gas Water Heater, Inside Storage, Outside Space, Security Lighting, Security System, Shelving, Truck Door
- Square Footage Source:
- Appraiser
- Total Building Square Footage:
- 30680
- Type Of Roof:
- Metal - Propanel, Pitch
- Approximate Lot Size Range Source:
- Owner
- Existing Land Use:
- Manufacturing Of Flexible Liners For Wells And Ground Water Monitoring Systems.
- Lot Square Footage:
- 805860
- Days On Market:
- 508
- For Sale Or Lease?:
- For Sale
- Lease Type:
- Net
- Terms:
- Cash, Conventional, Exchange
- Price Per Square Foot:
- 97.78
- Tenant Pays:
- Electric, Garbage, Gas, Internet Service, Sewer, Water, Other - See Remarks
- Parking Description:
- Parking Area, Parking Lot
- Electricity:
- 3 Phase, Electric - 115v, Electric - 220v, Public
- Existing Water:
- Well - Existing, Well - Private
- Gas:
- Natural
- Sewage Type:
- Septic
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.
Your Payment
$1,400/mo
- Listing Provided By Tai Bixby Associates of Keller Williams
