2 INDUSTRIAL CONDO UNITS NW - STANDALE AREA

Industrial for Sale
Catylist Listing ID: 30619122
Property Subtypes: Industrial-Business Park, Manufacturing, Mixed Use, Light Industrial, Office Showroom, Self Storage, Warehouse/Distribution
Building Size (RSF): 3,000 SF
Gross Building Area: 21,000 SF
Gross Land Area: 3,000 SF
Sale Price: $300,000
Unit Price: $100 PSF
Ceiling: 16 ft.
Docks/Doors: 2 Doors
Office SF: 750 SF
Drive In Bays: 2 Bays
Property Use Type: Vacant/Owner-User, Business
Usable Size (USF): 3,000 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/28/2020

Overview / Comments

Newer 2 (Side by Side) Industrial Condo Units totaling 3,000 SF (1,500 SF per Unit). End Unit (Suite # 7) has a very nice finished open office with approx 750 SF and windows on the front and side of the unit. Mezzanine for Storage above the Office. Two 14' Overhead Doors for Storage/Warehouse/Equipment/Vehicles/Etc. Perfect setup for contractor or small machine shop.

These 2 Condo Units are part of the Lake Michigan Commerce Park which has a total of 2 Buildings, 45,000 SF and 23 Condo Units. Businesses are mostly comprised of smaller professional contractors. All units are individually owned except for 2 with 1 Unit having an option to purchase. Entire complex shows pride of ownership and is well maintained. Annual Association Dues are about $1,400 for the 2 units combined ($700 Annually per Unit) and covers grass, snow plowing, insurance, roof, structure, water/sewer. Taxes and Utilities covered by owner.

Owner is Leasing out Office Space only of approximately 750 SF on a month to month basis at $800 per month. Tenant would stay or leave depending on Buyer situation. RE Taxes for both Units Combined are about $2,800 for the year ($1,400 per Unit).

Located along the M-45 Corridor near the Standale Business District with several national retail stores and restaurants including Meijer. No City Income Taxes in this Tallmadge Township of Ottawa County.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Tax ID/APN: 70-10-24-397-(006 and 007)
Zoning: I-1 LIGHT INDUSTRIAL
Property Located Between: 3rd Ave and Sessions Drive
Highway Access: M-45, M-11, I-96 and I-196
Airports: Gerald R Ford International Airport & Muskegon Airport
Area Description: A mix of retail and industrial businesses including Tallmadge Industrial Park along with new homes being built on Sessions Drive next to this Lake Michigan Commerce Park.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,000 SF
Property Condition: Excellent
Year Built: 2013
Roof Type: Hip
Construction/Siding: Brick/Vinyl Siding
Exterior Description: Parking Immediately in Front of these Condo Units
Parking Type: Surface
Parking Description: Designated Parking. These 2 Units have a total of 6 (or more).
Eave Height: 18
Overhead Cranes: Undisclosed
Sprinklers: None
Amps: 110
Heat Type: Natural Gas
Heat Source: Central, Ceiling Units
Air Conditioning: Package Unit
Lighting: Fluorescent
Internet Access: Cable
Interior Description: Professional Office with approx 750 SF and Shop/Warehouse Area with approx 2,250 SF
Zoning Description: I-1 Light Industrial
Lot Frontage: 30
Lot Depth: 50
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress, Utilities
Easements Description: Part of Common Elements Shared by All Owners
Land Ownership: Condo Ownership with an Association
Legal Description: UNIT 6 and 7 BLDG A, LAKE MICHIGAN COMMERCE PARK AS RECORDED IN OTTAWA COUNTY REGISTER OF DEEDS LIBER 5696 PAGES 856-899 CONDO SUB PLAN NO. 542 SEC 24 T7N R13W

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,398 25,697 93,049
Median Age: 34.06 37.17 36.75
Households: 1,249 10,049 36,246

Contact

Photograph of Listing Agent

Arnold Grover

Grover Real Estate, Inc.
CARWM Member
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