1220 VALLEY ST

EXECUTIVE OVERVIEW

The industrial/flex warehouse is ±18,300 square feet in size and resides on a ±1.25- acre lot, positioned near major thoroughfares, including N Powers Boulevard and E Platte Avenue. The property was constructed from reinforced concrete in 1972, and benefits from I-2 CAD-O zoning, making it suitable for a wide range of industrial uses. Notable features include 4 grade-level doors, 1 dock-high door, 14-foot clear height, ample parking (2.23/1,000 SF ratio) and 600 amps / 120/208v / 3-phase power (to be verified by an electrician). The building comprises roughly 10,800 square feet of warehouse space and ±7,500 square feet of office, for a property mix of 60% industrial and 40% office. The property benefits from added security with a side fenced lot and has undergone capital improvements that include a fully renovated upstairs office and a new roof in 2018. The property is fully leased to two tenants with a weighted average lease term (WALT) of 5.5 years, providing a stable cash flowing investment. The primary tenant, Foster Electric Corp, occupies approximately 14,000 square feet (76.5% of the GLA) under a NNN lease that extends through July 31, 2031. Their current rental rate is $13,750 per month ($11.79/sf), with a 15% rent increase scheduled for August 1, 2026, followed by continued annual 3% escalations through the remainder of the term. The second tenant, Matt’s Radiator Sales & Service, leases approximately 4,300 square feet (23.5% of the GLA) under a Modified Gross lease that runs through June 30, 2027. This tenant currently pays $2,750 per month ($7.67/sf), with annual rent increases of $100 per month through the lease term. Additionally, they are responsible for gas and electric utility costs.