INDUSTRIAL INVESTMENT PROPERTY

Industrial for Sale
Sale Pending
Catylist Listing ID: 30711884
Property Subtypes: Free-Standing, Industrial-Business Park, Manufacturing, Light Industrial, Office Showroom, Warehouse/Distribution
Status: Pending
Building Size (RSF): 66,250 SF
Gross Building Area: See Agent
Gross Land Area: 5.35 Acres
Sale Price: $1,550,000
Unit Price: $23.40 PSF
Ceiling: 24 ft. / 16 ft. Clear
Docks/Doors: 5 Doors
Drive In Bays: 10 Bays
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: 8.9%
Average Occupancy Rate: 92
Last Updated: 5/12/2021

Overview / Comments

RARE MULTI-TENANTED INDUSTRIAL INVESTMENT PROPERTY: 66,250 SF industrial building on 5.35-acre parcel in the Coldwater South Industrial Park. Currently 92% occupied with flexible leases, an in-place NOI of $137,500 and cap rate of 8.9%, this multi-tenanted facility offers a variety of opportunities, including as owner-occupied, with short-term leases that allow flexibility and immediate income. Property offers heating and A/C throughout the original 41,250 SF facility with 16’ clear ceiling height and 20-24’ ceiling height in the 25,000 SF 2005 addition. All with heavy power. Several interior and exterior overhead doors/truck wells located throughout, ample on-site parking with multiple ingress/egress options. Many long-term tenants include DWV Mechanical, C&M Manufacturing, Biz Aid, Infinisource, Sterling Technologies and Groholski Manufacturing Solutions.

Additional Details

Nearest MSA: Coldwater
County: Branch
Taxing Authority: Coldwater, City of
Tax ID/APN: 304-000-000-577-00
Zoning: D2, HEAVY INDUSTRIAL DISTRICT
Property Located Between: Jay St. & S. Clay St.
Highway Access: 2.5 miles SW of I-69 & 1 mile SW of US-12
Area Description: Located in Coldwater South Industrial Park
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1969
Year Renovated: 1995
Construction/Siding: Block, Brick, Metal Siding, Steel Frame
Parking Type: Surface
Parking Description: Ample parking
Overhead Cranes: Undisclosed
Sprinklers: Wet
Amps: 12,002,000
Volts: 480
X-Phase: 3
Heat Type: Natural Gas
Zoning Description: D2, Heavy Industrial District
Water Service: Municipal
Sewer Type: Municipal
Legal Description: COM AT S 1/4 COR SEC 21 TH N ALG CEN LI OF SD SEC 1845.7 FT TO S LI OF INDUSTRIAL AVE TH WLY ALG S LI OF INDUSTRIAL AVE 100 FT TO BEG TH WLY 330 FT ALG S LI OF INDUSTRIAL AVE TH S 461.3 FT ALG LI PAR WI CEN LI OF SD SEC TH E 330 FT TO PT 100 FT W OF CEN LI OF SD SEC TH N 453.5 FT TO S LI OF INDUSTRIAL AVE & POB ALSO WLY 205 FT IN WIDTH OF PAR DESC AS COM AT PT ON W LI OF CLAY ST 1479.4 FT N & 33 FT W OF SW COR OF SE 1/4 OF SE 1/4 OF SEC 21 TH W 580 FT TH N 368.3 FT TO S LI OF INDUSTRIAL AVE TH W ALG S LI OF INDUSTRIAL AVE 812.3 FT TH S 453.5 FT TH N 88DEG 36MIN 47SEC E 1392.71 FT TO W LI OF CLAY ST TH N 51.5 FT ON W LI OF CLAY ST TO POB

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,366 15,980 20,019
Median Age: 32.85 37.66 39.41
Households: 923 5,179 6,868

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