Manufacturing For Sale or Lease

Industrial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30367985
Property Subtypes: Industrial-Business Park, Manufacturing, Mixed Use, Light Industrial, Office Showroom
Status: Pending/Contingent
Building Size (RSF): 928,000 SF
Gross Land Area: 24 Acres
Sale Price: $13,800,000
Unit Price: $14.87 PSF
Ceiling: 21 ft.
Docks/Doors: 26 Docks, 5 Doors
Office SF: 26,000 SF
Drive In Bays: 5 Bays
Property Use Type: Net Leased Investment (NNN), Vacant/Owner-User
Building Name: Amstore (Previously known as Steelcase Chair Plant)
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 7/23/2019

Overview / Comments

Large manufacturing facility available for sale and lease. Many configurations available. This property is positioned on 24 acres within a great industrial complex. The building features:
- New roof in 2016 (rubber ballast),
- (4) primary substations with (2) primary services at each substation location. More than 2,400 amp service,
- Cambridge Engineered heating systems for manufacturing areas (installed in
2012),
- Bus bars in various areas on first and second floors,
- Airlines throughout,
- Motion-controlled T-8 lighting throughout,
- 26 dock doors in 4 separate areas,
- 50,000 SF area with 50' ceiling height (~42' clear),
- Floor thickness of: 8" on first floor, 7" on second floor.
- Column spacing : First floor - 40'x20', 2nd floor - 40x40',
- 3 Freight Elevators,
- Fiber Connection (AT&T).
Ideal users include: Stamping, Welding, Metal Fabrication, Powder Coating, Assembly and Fulfillment, and Warehousing.

Current owner is willing to master lease back +/- 100,000 SF and is open to relocation alternatives within the building.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $86,271 (Annual)

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: 36th/44th St Corridor
Taxing Authority: City of Grand Rapids
Tax ID/APN: 41-18-20-300-070 41-18-20-300-017
Zoning: INDUSTRIAL - SPECIAL DISTRICT - INDUSTRIAL TRANSPORTATION (SD-IT)
Property Located Between: 44th and 36th Street
Highway Access: Near M-6 and US 131 interchanges
Area Description: Manufacturing area within City of Grand Rapids and within 4 & 6 miles of US-131 & M-6, respectively.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 471,000 SF
Property Condition: Good
Year Built: 1974
Year Renovated: 2008
Roof Type: Other
Construction/Siding: Block, Metal/Glass
Parking Type: Surface
Column Spacing: 40' x 20' first floor, 40' x 40' second floor
Freight Elevators: 3
Overhead Cranes: 3
Sprinklers: Wet, Other
X-Phase: 3
Heat Type: Natural Gas
Heat Source: Other
Lighting: Other
Internet Access: Other
Interior Description: The floors are in great shape & not pitted. Heavy-duty built and in very good condition. Several conference rooms throughout the office areas.
Zoning Description: SD-IT Special District - Industrial Transportation
Water Service: Municipal
Sewer Type: Municipal
Legal Description: PPN # 41-18-20-300-070 Legal Description: 411820300070 PART OF SW 1/4 COM 1959.70 FT N 1D 29M 38S W ALONG N&S 1/4 LINE FROM S 1/4 COR TH S 88D 00M 56S W 858.27 FT TH N 1D 38M 47S W 732.99 FT TH S 88D 33M 47S E ALONG E&W 1/4 LINE 859.0 FT TH S 1D 29M 38S E ALONG N&S 1/4 LINE 681.72 FT TO BEG * SEC 20 T6N R11W 13.93 A. SPLIT ON 06/22/2006 FROM 41-18-20-300-043; SPLIT ON 01/18/2008 FROM 41-18-20-300-044; SPLIT ON 06/13/2008 FROM 41-18-20-300-050; SPLIT/COMBINED ON 02/24/2016 FROM 41-18-20-300-051, 41-18-20-300-066; SPLIT/COMBINED ON 10/25/2017 FROM 41-18-20-300-068; PPN # 41-18-20-300-017 Legal Description: 411820600017 PART OF SW 1/4 COM 2641.42 FT N 1D 29M 38S W ALONG N&S 1/4 LINE FROM S 1/4 COR TH N 88D 33M 47S W ALONG E&W 1/4 LINE 859.0 FT TH N 1D 38M 47S W 29.06 FT TH N 1D 11M 45S W 652.65 FT TH NLY 154.45 FT ALONG A 520 FT RAD CURVE TO LT /LONG CHORD BEARS N 9D 42M 16S W 153.88 FT/ TH NWLY 82.62 FT ALONG A 900 FT RAD CURVE TO LT /LONG CHORD BEARS N 20D 50M 36S W 82.59 FT/ TH NWLY 64.0 FT ALONG A 250 FT RAD CURVE TO LT /LONG CHORD BEARS N 30D 48M 26S W 63.83 F/ TH NWLY 61.03 FT ALONG A 540 FT RAD CURVE TO LT /LONG CHORD BEARS N 41D 22M 44S W 61.0 FT/ TH N 44D 37M 00S W 128.0 FT TH NWLY 102.72 FT ALONG A 100 FT RAD CURVE TO RT /LONG CHORD BEARS N 15D 11M 20S W 98.27 FT/ TO SWLY LINE OF CONRAIL RR R/W /50 FT WIDE/ TH S 43D 14M 14S E ALONG SD SWLY LINE 1633.16 FT TH S 1D 28M 24S E ALONG N&S 1/4 LINE 28.65 FT TO CEN OF SEC & BEG * SEC 20 T6N R11W 10.07 A. SPLIT ON 06/13/2008 FROM 41-18-20-600-004; SPLIT/COMBINED ON 02/24/2016 FROM 41-18-20-600-006, 41-18-20-600-005, 41-18-20-600-007; SPLIT/COMBINED ON 10/25/2017 FROM 41-18-20-600-012, 41-18-20-600-013; PROPERTY LOCATED IN THE CITY OF WYOMING AND ASSESSED BY THE CITY OF GRAND RAPIDS UNDER PA 425 OF 1984.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,085 125,454 261,365
Median Age: 35.8 33.64 33.44
Households: 5,521 47,135 98,652
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