PostcardMania Sale-Leaseback

Industrial for Sale
Catylist Listing ID: 30214429
Property Subtypes: Light Industrial, Net Leased
Building Size (RSF): 52,495 SF
Gross Land Area: 3.64 Acres
Sale Price: $6,200,000
Unit Price: $118.11 PSF
Docks/Doors: 2 Doors
Office SF: 32,231 SF
Drive In Bays: 2 Bays
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: PostcardMania Headquarters
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: 7.22%
Average Occupancy Rate: 100
Last Updated: 8/15/2018

Overview / Comments

Sale-leaseback offering comprising the 52,495 square foot three building corporate headquarters of PostcardMania in Clearwater, Florida. PostcardMania is a marketing and direct mail company with $50 million in annual revenue and over 200 full-time staff. The company employs a Silicon Valley culture and offers a wide range of business marketing products such as direct mail - including postcards, brochures, letters, business cards, and business marketing services such as web site design, custom logos ,email marketing and web marketing. They have over 79,000 clients nationwide.

The three building complex fronts on both Sunnydale Boulevard and Calumet Street and totals 3.64 aggregate acres MOL. The northern, original printing facility totals 21,719 square feet and provides 4,880 square feet of office, the southern production facility totals 6,625 square feet and maintains 3,200 square feet of office. The middle structure, which is the newest of the three buildings, comprises 24,151 square feet of two level, Silicon Valley inspired office along with a 57,586 square foot, two level parking garage.

The complex is fully air-conditioned, the two production facilities maintain very heavy power and the two northern buildings are sprinklered. The 3.64 acre site provides a total of 125 parking spaces, 98 of which are housed in the two level parking garage.

The 52,495 square foot complex is offered for sale at $6,200,000 which equates to a 7.22% capitalization rate. At the sale, a new ten year lease will be executed.

* SALE-LEASEBACK OF ESTABLISHED 20 YEAR OLD COMPANY
* 10 YEAR, NNN LEASE TO BEGIN UPON CLOSING
* 7.22% CAPITALIZATION RATE
* $50 MILLION ANNUAL REVENUE
* EXCELLENT 1031 EXCHANGE PROPERTY

Financials

Finance Data Year 2018
Net Operating Income $447,570 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pinellas
Tax ID/APN: 01-29-15-16489-000-0022 & 01-29-15-16488-000-0100
Zoning: IRT-CITY CLEARWATER, FL
Property Located Between: Belcher Road and Hercules, Clearwater, FL
Site Description: 2145 Sunnydale Boulevard and 2144 Calumet Street
Area Description: Clearwater Industrial Park
Tenancy: Single Tenant
Total Number of Buildings: 3
Number of Stories: 2
Property Condition: Good
Year Built: 1980
Year Renovated: 2009
Roof Type: Flat
Construction/Siding: Concrete
Parking Ratio: 2.4 (per 1000 SF)
Parking Type: Structure, Roof Top, Surface
Parking Description: The two original buildings provide surface parking and the newer, corporate office structure provides a two level parking garage.
Total Parking Spaces: 125
Passenger Elevators: 1
Sprinklers: Wet
Amps: 2,000
X-Phase: 3
Air Conditioning: Package Unit
Zoning Description: IRT-City of Clearwater (Industrial, Research & Technology)
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,392 137,650 250,186
Median Age: 50.11 45.07 46.77
Households: 7,536 62,951 115,284

Contact

Photograph of Listing Agent

Deron Thomas, CCIM, SIOR

Industrial Realty Solutions CE-FL Member
Photograph of Listing Agent

Tyler Thomas

Industrial Realty Solutions
CE-FL Member
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