Investment Sale

Industrial for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30720224
Property Subtypes: Free-Standing, Light Industrial, Truck Terminal, Warehouse/Distribution, General
Building Size (RSF): 13,420 SF
Gross Land Area: 2.38 Acres
Sale Price: $1,200,000
Unit Price: $89.42 PSF
Ceiling: 22 ft.
Docks/Doors: 10 Doors
Office SF: 1,500 SF
Drive In Bays: 5 Bays
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Building Name: PENSKE TRUCK
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/3/2021

Overview / Comments

Current tenant lease runs through November 2022 with two 2 year options to renew. They have been in the building for 15 years.
Building has a fenced in lot and is near the bus line.
Ten - 10' x 14' overhead doors, 5 on each of two sides of the building - drive through capabilities.
Trench drains, far west bay contains a truck wash area.
There is mezzanine space above the office with additional built out office space and storage space - not included in SF size.
Corner lot.

Financials

Finance Data Year 2002
Real Estate Taxes - Annual($) $331,900 (Annual)

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: S 131 Corridor
Taxing Authority: City of Grand Rapids
Tax ID/APN: 41-18-06-153-007
Zoning: LIGHT INDUSTRIAL
Property Located Between: Division and Jefferson
Highway Access: US-131
Airports: Gerald R Ford International
Site Description: DNA
Area Description: DIRECTIONS: US131 E ALONG BURTON 2 JEFFERSON N ON JEFFERSON 2 PROP. ON L/S OF ROAD
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 13,420 SF
Property Condition: Average
Year Built: 1980
Construction/Siding: Concrete
Parking Type: Surface
Total Parking Spaces: 100
Overhead Cranes: Undisclosed
Amps: 30
Volts: 480
X-Phase: 3
Heat Type: Natural Gas
Heat Source: Central
Lighting: Fluorescent
Lot Frontage: 336
Lot Depth: 303
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,774 156,842 314,483
Median Age: 25.58 31.47 33.51
Households: 7,293 58,261 120,203

Contact

Photograph of Listing Agent

David Smies, CCIM, SIOR

NAI Wisinski of West Michigan CARWM Member
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