Investment Sale

Industrial for Sale
Sale Pending
Catylist Listing ID: 30720336
Property Subtypes: Free-Standing, Manufacturing, Light Industrial, Warehouse/Distribution
Status: Pending
Building Size (RSF): 29,428 SF
Gross Building Area: See Agent
Gross Land Area: 3.20 Acres
Sale Price: $1,695,000
Unit Price: $57.60 PSF
Ceiling: 25 ft.
Docks/Doors: 8 Doors
Office SF: 5,800 SF
Drive In Bays: 8 Bays
Property Use Type: Net Leased Investment (NNN), Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/14/2021

Overview / Comments

This is an investment sale with a 5 year lease in place. - cap rate 6.2%/ Tenant is leasing back at $3.57SF
Two buildings - #1 - this building was built in 1991/1995 as a tool and die manufacturing facility. 23,668 SF pre-engineered steel construction with 5,800 SF of office, some of the office is upstairs which has passenger elevator access, 6 overhead doors, heavy power, high ceilings, crane ways, etc.
Building #2 is a clear span, cold storage facility. 5,760 SF wood frame constructed storage facility. 2 overhead doors, 16' ceilings, fluorescent lighting, 3 phase electric and is not heated.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Taxing Authority: Byron Township
Tax ID/APN: 41-21-23-127-004
Zoning: I-1
Highway Access: US -131
Airports: Gerald R Ford International
Tenancy: Single Tenant
Number of Stories: 2
Property Condition: Average
Year Built: 1990
Year Renovated: 1995
Construction/Siding: Block, Metal Siding
Parking Type: Surface
Eave Height: 25
Overhead Cranes: Undisclosed
Sprinklers: Wet
Amps: 800
Volts: 440
X-Phase: 3
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Lighting: Fluorescent
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,229 29,822 98,656
Median Age: 40.15 38.03 35.93
Households: 503 11,071 36,442


Photograph of Listing Agent

Chadwick J Versluis, SIOR

NAI Wisinski of West Michigan CARWM Member
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