3001 & 2957 Madison Ave SE

Industrial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30236836
Property Subtypes: Free-Standing, Manufacturing, Light Industrial, Warehouse/Distribution
Status: Pending/Contingent
Building Size (RSF): 11,832 SF
Gross Land Area: 0.78 Acres
Sale Price: $650,000
Unit Price: $54.94 PSF
Ceiling: 20 ft. / 12 ft. Clear
Docks/Doors: 1 Dock, 1 Door
Office SF: 2,000 SF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/14/2018

Overview / Comments

Hard to find, well maintained industrial building available for purchase. Building had a new Weather Shield roof on the majority of it in 2009 with a warranty through 2030. Ceiling heights vary - 12' on both sides and 20' in the center. It also has heavy power and two buss bars—each one is 80' long. The warehouse area has radiant heat, new LED lighting, one dock, one drive-in door, and a craneway with a 5 ton crane and there is also a 2 ton crane. The office area has all new windows.

The rental house provides annual NOI of +/- $15,000 from the three units and 20 additional parking spaces.


Finance Data Year 2018
Real Estate Taxes - Annual($) $6,658 (Annual)
Assessed Value - Total($) $166,900 (Annual)

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Taxing Authority: City of Wyoming
Tax ID/APN: 41-18-18-126-010 and 41-18-18-126-011
Property Located Between: 28th Street and 32nd St and Division Ave and Eastern Ave
Highway Access: 1.37 Miles to US-131
Airports: Gerald R Ford International Airport
Tenancy: Single Tenant
Total Number of Buildings: 2
Property Condition: Average
Year Built: 1956
Year Renovated: 2010
Roof Type: Flat
Construction/Siding: Block, Brick
Parking Type: Surface
Parking Description: On-site
Total Parking Spaces: 36
Overhead Cranes: 2
Amps: 400
Heat Source: Radiant
Air Conditioning: Engineered System
Lighting: Other
Lot Frontage: 215.4
Lot Depth: 141.3
Water Service: Municipal
Sewer Type: Municipal

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