This property should provide for an annualized 8.64 – 10.61% unlevered annualized internal rate of return (IRR) or higher, barring a worse than normal recession or unexpected economic shock during the next ten years.
After the current tenant vacated, we took an old and unkept building and did a thorough cleanse, including new paint and lighting. We enclosed the SE portion of the building to add square footage, complete with overhead door with direct access to the yard.