Retail Office space, $19,200 annual carrying costs savings

Office for Sale
Catylist Listing ID: 30512255
Property Subtypes: Executive Suites, Medical, Mixed Use, Office Building, Other
Condo? Yes
Building Size (RSF): 8,000 SF
Sale Price: $199,900
Property Use Type: Vacant/Owner-User
Building Name: Belding Commons
Class of Space: Class A
Usable Size (USF): 8,000 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 9/1/2020

Overview / Comments

Unfinished office/retail commercial space. $199,900 for entire building or $69,900 for each 2000 sq ft unit. 8000 sq ft roughed-in with electrical and plumbing. Very nice looking building in a very desirable location. In the Belding Commons 2 of the 4 buildings are still available. If both remaining buildings are sold together the Developer Rights will be included. This means the buyer would not have to pay association fees and dues until units are occupied, a carrying cost savings of $19,200 per year. Once units are occupied, those fees and dues would kick in, which could transfer to occupant.. Other building divided into four 2000 sq ft areas. See listing for 1328 West State Rd for details. This is a rare opportunity with extremely low carrying costs. This opens the door for the small investor.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Ionia
Taxing Authority: City of Belding
Tax ID/APN: 34-401-300-000-002-01
Is Condo?: Yes
Zoning: COMMERCIAL 201, ZONING CODE B-2
Property Located Between: Entrance between large Belding Commons sign and the Subway sandwich shop at entrance
Property Visibility: Excellent
Highway Access: High traffic area on M-44, West side of Belding
Site Description: Modern business complex with very flexible zoning ranging from offices to a gym and/or sports facility, retail or food courts. Many possibilities. Another building currently occupied by health care professionals.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 8,000 SF
Year Built: 2006
Year Renovated: 2018
Roof Type: Arched
Construction/Siding: Block, Concrete, Wood Siding
Exterior Description: Front of buildings are inviting decorated with beautiful stonework. . Many windows with pleasant exterior views, and parking lot freshly sealed and lined. The commons is decorated with various trees and is well lit for those after dark appointments.
Parking Type: Surface
Parking Description: Parking Lot, freshly paved and striped.
Sprinklers: None
Heat Type: Natural Gas
Interior Description: Roughed in framing, electrical and plumbing
Zoning Description: Commercial 201. Zoned B-2
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Land Ownership: Privately owned
Legal Description: THE COMMONS AT BELDING CONDOMINIUM, ACCORDING TO THE MASTER DEED RECORDED IN LIBER 634, PAGE 3645, IONIA COUNTY RECORDS, AS AMENDED, AND DESIGNATED AS IONIA COUNTY CONDOMINIUM SUBDIVISION PLAN NO. 61, TOGETHER WITH RIGHTS IN THE GENERAL COMMON ELEMENTS AND THE LIMITED COMMON ELEMENTS AS SHOWN ON THE MASTER DEED AND AS DESCRIBED IN ACT 59 OF THE PUBLIC ACTS OF 1978, AS AMENDED.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,695 8,213 14,149
Median Age: 34.16 36.12 37.4
Households: 648 3,070 5,280
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