Description

This property is improved with a five-building light industri complex that contains a total of 20,200 square feet. These buildings were constructed in 1990, 2016 and 2018 and are in average overall condition. As of the effective date of this appraisal, there are three tenants on short-term leases occupying 19,200 square feet, or approximately 95 percent of the rentable area of the buildings. One of these tenants’ leases only a small land pad to park their trucks. In addition, the site is encumbered by a perpetual easement that has granted Range Resources the right to construct a gas and oil well on approximately 20 acres of the site. The remainder of the site consists of approximately 97 acres of raw land (former golf course) that is zoned A-1, Agriculture. This portion of the site is considered to be excess land that has the potential to be developed into some type of low density agricultural or residential use.