The investment property, located in Elkhart, Indiana, is the headquarters of Niblock Machinery, Inc., a machine tool dealer of new and used metalworking equipment. This 3.18 acre property houses Niblock’s 23,000 SF showroom where all their new and rebuilt machines can be inspected under power, as well as an extensive rebuilding facility with an overhead crane system capable of moving up to 25 tons. They represent over 75 manufacturers of metal fabrication equipment, each with a wide range of products and they have a large selection of used machines that have been inspected and reconditioned in Niblock’s own rebuilding facility.
Niblock Machinery is signing a 10 year triple net lease and the tenant will be responsible for all maintenance, repairs, and expenses for the facility including the roof and structure.
Investment Highlights: Price $885,000
10 year NNN lease with Niblock Machinery, Inc.
Tenant is responsible for all maintenance to the property including roof and structure, real estate taxes and insurance.
9.5% Cap Rate
Property Description: 3.18 acre site with 3 buildings totaling 35,200 SF.
The main building is approximately 21,600 SF; built in 1968 and is concrete block and steel structure with a flat roof.
The other 2 buildings are 3,750 SF and 9,850 SF.
Located in Elkhart County, Elkhart, Indiana – tax parcel 20-02-20-327-005.000-027.
Zoning is M-1 Manufacturing
Area Description: Elkhart, Indiana is approximately 15 miles east of South Bend, Indiana, 110 miles east of Chicago, 150 miles north of Indianapolis. Elkhart’s primary industries are manufacturing and it has been known as the “RV Capital of the World” for decades.
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