Owner/User Opportunity - current occupancy covers all CAM plus more

Office for Sale
Catylist Listing ID: 30180025
Property Subtypes: Office Building
Building Size (RSF): 9,484 SF
Gross Land Area: 1.54 Acres
Sale Price: $750,000
Unit Price: $79.08 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/25/2019

Overview / Comments

Current owner has invested in all of the right areas to make this a fantastic building for the next owner! This building lays out perfectly for a single user or up to 2 or 3 tenants, all with private entrances and zoned mechanicals. The building is being sold with one tenant in place and the income generated from this tenant covers all of the buildings CAM + more. The remaining vacant space is perfect for an owner user looking to own their own building with additional space available if they need to expand, while an in place tenant today covers all CAM costs (plus more) for now. Wonderful highway access, and well over $100K recently spent on new roof, new EIFS exterior, and many mechanical replacements. A building this turn key and cost effective to operate are difficult to find.

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Submarket/Township: Alpine Corridor
Tax ID/APN: 41-10-31-154-016
Highway Access: Excellent highway access! Right (South) off the West River Drive Exit from US-31, first right is Division, second building on left hand side.
Total Number of Buildings: 1
Year Renovated: 2016
Roof Type: Hip
Parking Ratio: 5 (per 1000 SF)
Parking Description: 46 spaces - aorox. 5 spaces per 1,000 SF
Total Parking Spaces: 46
Heat Type: Natural Gas
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,486 49,579 145,643
Median Age: 32.66 37.95 36.3
Households: 3,412 20,263 57,713


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