1609 Airport Rd

1609 Airport Rd offers a strategic position within Monroe’s established industrial corridor, delivering a clear logistical advantage for users operating across the greater Charlotte region. The property sits directly across from Charlotte-Monroe Executive Airport, a full-service general aviation facility and a designated reliever to Charlotte Douglas International Airport, supporting efficient corporate and cargo aviation access. The site also benefits from immediate connectivity to US-74 and the Monroe Expressway, providing seamless linkage to I-485, I-85, and I-77. This infrastructure supports efficient inbound logistics, streamlined outbound distribution, and convenient access for a regional workforce. Surrounded by established industrial users near Monroe Corporate Center, the property is positioned within a proven and active manufacturing hub. This location connects directly to the depth of the Charlotte MSA labor pool, along with Union County’s skilled manufacturing workforce, both of which are key drivers for long-term operational success. In addition, the area offers competitive operating costs, access to workforce training programs, and potential state and local incentives. These fundamentals continue to attract demand from light manufacturing, warehousing, and regional distribution users, reinforcing the property’s long-term viability and strategic value.Positioned as a stabilized, income-producing industrial investment, this 111,500 SF asset is offered at $9,220,000 ($82.60/SF), delivering a 7.40% cap rate with durable cash flow and built-in growth. The property is 100% leased across four suites, anchored by strong industrial users including 3M (Scott Technologies) occupying 16,000 SF, alongside Spiroflow, which leases the remaining 95,500 SF across three suites. This diversified rent roll provides stability while maintaining institutional-quality tenancy. Lease terms offer near- to mid-term security, with expirations extending through May 2028 and April 2029. Additional upside is embedded through structured rent escalations beginning in 2026, driving projected NOI to $682,275, with an additional $116,093 in reimbursements. Tenant options further enhance long-term flexibility, including a 3-year option for Scott Technologies and two 5-year renewal options across the Spiroflow spaces. From an ownership perspective, the asset is designed for ease and efficiency, with minimal landlord responsibilities and participation in the Brownfield Program, offering potential financial and regulatory advantages. A waived right of first offer is already in place, streamlining a future disposition, while a fair-market-value purchase option tied to Akona Process Solutions introduces an additional strategic consideration. This is a rare opportunity to acquire a fully leased industrial asset with strong tenancy, contractual income growth, and long-term optionality in a proven industrial corridor.