SOLID INVESTMENT OPPORTUNITY! The land and buildings of the Pelindaba Lavender business are being sold with the option of a continually renewable NNN 10-year leaseback to Pelindaba. NNN Lease of the $3M commercial property would be adjusted every 5 years based on CPI at 8% ($240,000/year). Conservative estimated commercial land value and building replacement costs: Land value: 19 acres (3 parcels) = $1.M; Improvements: 15,000 sf manufacturing/office building x $300/sf = $4.5M, 1500 sf store facility x $250/sf = $375K, and 430 sf cottage x $350/sf = $150K… For an estimated total value of $6M, with future tenant improvements adding further value. Plus the seller’s 6800 sf (approx) custom home and outbuildings on 3.9 acres valued at $2.45M.
