DOWNTOWN FLEX BUILDING - ADRIAN, MI

Industrial for Sale
Also listed as Office, Retail-Commercial
Catylist Listing ID: 30732775
Property Subtypes: Flex Space, Free-Standing, Light Industrial, Office Showroom, Warehouse/Distribution
Building Size (RSF): 19,421 SF
Gross Building Area: See Agent
Gross Land Area: 0.83 Acres
Sale Price: $425,000
Unit Price: $21.88 PSF
Ceiling: 16 ft.
Docks/Doors: 1 Dock
Property Use Type: Vacant/Owner-User
Building Name: The Daily Telegram
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 7/27/2021

Overview / Comments

AVAILABLE FOR SALE: Freestanding, approx. 19,421 SF office, warehouse and shop building on 0.83-acre parcel in Adrian’s historic downtown district. Constructed in 1935, building features approx. 12,041 SF office/shop space with reception area, multiple private offices, open workspace, kitchen/breakroom, men’s/women’s restroom and former production area (shut down November 2020) with plenty of natural light, 16’ column spacing, heavy power with exterior transformer and 9’x9’ loading dock. Site offers great visibility, 20 parking spaces and easy access from US-223 and M-52. Current home of the Daily Telegram, which will relocate upon sale of property.

Adjacent property, 155 & 205 N. Winter St., also available for separate purchase. Combined parcels, 133, 155 & 205 N. Winter St., also available for purchase.

Additional Details

Nearest MSA: Adrian
County: Lenawee
Submarket Type: Central Business District
Taxing Authority: Adrian, City of
Tax ID/APN: XA0-000-0068-00
Zoning: B-3, CENTRAL BUSINESS DISTRICT
Property Located Between: W. Maumee St. and W. Front St.
Highway Access: Easy access from US-223 and M-52
Area Description: Located in Adrian's historic downtown district.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1935
Roof Type: Flat
Construction/Siding: Block, Brick, Other
Parking Type: Surface
Total Parking Spaces: 20
Column Spacing: 16
Overhead Cranes: Undisclosed
Zoning Description: B-3, Central Business District
Water Service: Municipal
Sewer Type: Municipal
Legal Description: N 67 FT LOT 67 & N 8 FT LOTS 68, 69 & 70 AND S 15 FT LOT 71 ORIGINAL PLAT & LOTS 8,10,11 & E 167 FT LOT 9 BLK 2 ASSESSORS PLAT 11 OWNED &OCCUPIED AS ONE PARCEL.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,675 27,261 40,189
Median Age: 32.73 35.52 37.52
Households: 4,888 9,309 14,211

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