NNN Leased Industrial Investment Sale

Industrial for Sale
Catylist Listing ID: 30638580
Property Subtypes: Free-Standing, Light Industrial, Net Leased, Truck Terminal, Warehouse/Distribution
Building Size (RSF): 15,800 SF
Gross Building Area: See Agent
Gross Land Area: 7.06 SF
Sale Price: $2,175,000
Unit Price: $137.66 PSF
Ceiling: 18 ft. Clear
Docks/Doors: 1 Dock, 3 Doors
Office SF: 4,000 SF
Drive In Bays: 2 Bays
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: SameDay, Penske, Amazon
Sale Terms: Cash to Seller
Cap Rate: 8.2%
Average Occupancy Rate: 100
Last Updated: 9/23/2020

Overview / Comments

3800 & 3776 Three Mile Road property located in Walker, Michigan, represents an opportunity to own two industrial buildings, fully leased to Penske Trucking and MI Prime Logistics, an Amazon delivery partner. Each building offers a surplus of truck and trailer parking, an asset to both tenants and an amenity that is not easy to fi nd in the market. Both leases (four - six years remaining) are true NNN in nature, and offer a Landlord a care free investment opportunity into industrial distribution service facilities that will continue to be in demand as our supply chain and consumer habits evolve.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: 3 Mile Corridor
Taxing Authority: Walker
Tax ID/APN: 41-13-08-100-043 & 41-13-08-100-044
Highway Access: At Fruitridge and I-96
Site Description: 7 acres of paved and crushed concrete parking area.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Year Built: 1980
Year Renovated: 2015
Construction/Siding: Steel Frame
Parking Type: Surface
Parking Description: 7 acres of paved and crushed concrete surrounding the buildings.
Total Parking Spaces: 200
Overhead Cranes: Undisclosed
Heat Type: Natural Gas
Heat Source: Central
Lighting: Fluorescent
Zoning Description: Light Industrial
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,847 31,888 97,092
Median Age: 35.72 40.31 34.47
Households: 1,815 13,152 38,648


Photograph of Listing Agent

Michael Visser

Colliers International
CARWM Member
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