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Office Warehouse

YRC Freight | US Truck & Trailer

1415 S Olive St, South Bend, IN 46619

Listing Price: $5,686,000

Cap Rate
6.10%
Gross SF
65,280
Price/Gross SF
$87.10
Lot Size
11.00 acres
Year Built
1962
Rentable SF
65,280

Investment Overview

Marcus & Millichap (“MM”) has been authorized to exclusively present for sale, 1415 & 1311 S. Olive Street, South Bend, IN (the “Property”). The Property consists of two (2) free-standing single-tenant industrial assets, on one parcel, each of which are leased to individual tenants: (1) a 40,980 square-foot freight terminal leased to YRC Inc. (2) a 24,300 square-foot small bay warehouse leased to US Truck & Trailer, Inc. Both tenants operate under net lease structures through 2024 and directly benefit from their neighboring position. The property is located on a site that is functionally best-in-class for fast-paced logistics users. Measuring approximately 11.0 acres, the site is fully paved, fenced securely, has access to rail, and provides ample room for drop trailer parking. Situated two (2) miles northeast from U.S. Route 31 & U.S. Route 20, and within close-proximity to Interstates 80/90, transportation providers can reach nearly 80% of the country’s population within a one (1) day drive from the property. At the current list price of $5,686,000 the investment generates a Year 1 NOI of $346,956, which equates to a 6.10% Year 1 Cap Rate.

Investment Highlights

  • YRC Has a 25-Year Operating History at Subject Property
  • Below Market Rent Presents Significant Upside Upon Renewal
  • YRC Lease is Backed by a Corporate Parent Guaranty (YRC Inc.)
  • US Truck & Trailer Recently Signed a 3-Year Extension with Increases
  • On-Site Truck Repair is Rare & YRC is Direct Client for US Truck
  • Strong Synergy Between Tenants

Exclusively Listed By

Office Warehouse

YRC Freight | US Truck & Trailer

Listing Price: $5,686,000

Cap Rate
6.10%
Gross SF
65,280
Price/Gross SF
$87.10
Lot Size
11.00 acres
Year Built
1962
Rentable SF
65,280

Investment Highlights

  • YRC Has a 25-Year Operating History at Subject Property
  • Below Market Rent Presents Significant Upside Upon Renewal
  • YRC Lease is Backed by a Corporate Parent Guaranty (YRC Inc.)
  • US Truck & Trailer Recently Signed a 3-Year Extension with Increases
  • On-Site Truck Repair is Rare & YRC is Direct Client for US Truck
  • Strong Synergy Between Tenants

Investment Overview

Marcus & Millichap (“MM”) has been authorized to exclusively present for sale, 1415 & 1311 S. Olive Street, South Bend, IN (the “Property”). The Property consists of two (2) free-standing single-tenant industrial assets, on one parcel, each of which are leased to individual tenants: (1) a 40,980 square-foot freight terminal leased to YRC Inc. (2) a 24,300 square-foot small bay warehouse leased to US Truck & Trailer, Inc. Both tenants operate under net lease structures through 2024 and directly benefit from their neighboring position. The property is located on a site that is functionally best-in-class for fast-paced logistics users. Measuring approximately 11.0 acres, the site is fully paved, fenced securely, has access to rail, and provides ample room for drop trailer parking. Situated two (2) miles northeast from U.S. Route 31 & U.S. Route 20, and within close-proximity to Interstates 80/90, transportation providers can reach nearly 80% of the country’s population within a one (1) day drive from the property. At the current list price of $5,686,000 the investment generates a Year 1 NOI of $346,956, which equates to a 6.10% Year 1 Cap Rate.

Exclusively Listed By

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