INVESTMENT OPPORTUNITY - SPRINGFIELD, MI

Office for Sale
Catylist Listing ID: 30127270
Property Subtypes: Office Building
Building Size (RSF): 8,000 SF
Gross Land Area: 2.20 Acres
Sale Price: $599,000
Unit Price: $74.88 PSF
Ceiling: 12 ft.
Property Use Type: Investment
Class of Space: Class C
Sale Terms: Cash to Seller
Cap Rate: 11.0%
Average Occupancy Rate: 87
Last Updated: 7/21/2017

Overview / Comments

INVESTMENT OPPORTUNITY – Approx. 8,000 SF multi-tenanted office/retail building on 2.2-acre parcel in the City of Springfield. Constructed in 1997, and newly renovated in 2017, this highly visible building features 4 office/retail suites, prominent building signage, 55+/- parking spaces and multiple ingress/egress options. List price is based on in-place NOI equating to an 11% Cap Rate, and the property is currently 87% occupied by Meiji Corporation, Trillium Staffing and Edward Jones, with an additional 1,000 SF white-boxed suite available for lease. This site is well located on Dickman Road - between the Battle Creek Air National Guard Base and Fort Custer Industrial Park - and zoned B-3, General Business District, allowing for a variety of uses.

Additional Details

Nearest MSA: Battle Creek
County: Calhoun
Taxing Authority: Springfield, City of
Tax ID/APN: 135400507202
Zoning: B-3, GENERAL BUSINESS DISTRICT
Property Located Between: Fort Custer Dr. & 20th St.
Property Visibility: Excellent
Highway Access: Located on M-96.
Area Description: Located between the Battle Creek Air National Guard Base and Fort Custer Industrial Park.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1997
Year Renovated: 2017
Roof Type: Gable
Construction/Siding: Brick, Wood Frame, Wood Siding
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: B-3, General Business District
Water Service: Municipal
Sewer Type: Municipal, Storm
Legal Description: SPRINGFIELD CITY T2S R8W SECTION 5 COM ATS 1/4 CORNER, N 89*59'16" E 1322.40 FT TO C/L EVERGREEN RD, N 00*01'45" W 662.57 FT ALONG C/L, N 89*59'33" E 30 FT TO POB, N 00*01'45" W 1165.51 FT TO POB, N 00*01'45" W 35 FT, S 89*46'58" E 1 99.94 FT, N 61 *19'32" E 115.15 FT TO R/W OF DICKMAN RD, S 34*53'19" E 300.49 FT, S 55*06'41" W 277.46 FT, N34*53'19" W 384.74 FT, N 89*46'38" W 25.16 FT TO POB 2.20 AC+/-******** TIFAD SEV O ******** 12/9/2013 SPLIT 4.41 AC TO 13-54-005-071-00

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,646 24,086 67,208
Median Age: 36.68 36.68 38.27
Households: 659 9,821 27,322

Contact

Photograph of Listing Agent

Jodi K. Milks, CCIM

Bradley Company CARWM Member

Source

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